Credit card limits

[Ihavenojob]

seem to be pretty pointless if you can go past them. Usually take a CC out with me in case I run out of cash, it has a limit, which I thought would be good if I lost it, ie, no one could go mad with it if they found it. Just checked my bank account and I've gone way over my CC limit. How is that possible?

 

[carmanmemoranda]

have you asked you cc provider?

 

[Murdochcat]

Are you sure the cc provider hasn’t increased your credit limit?

 

[Ihavenojob]

Are you sure the cc provider hasn’t increased your credit limit?

It hasn't been increased. I paid it off pretty smart, then a few days later they sent me a letter saying I had exceeded my limit.

 

[Murdochcat]

Me thinks their computer system has an error in it

If you’re below the limit I would ignore the letter

 

[Ihavenojob]

Me thinks their computer system has an error in it

If you’re below the limit I would ignore the letter

I am below the limit as I paid it off, the letter was probably auto generated between me going over and me paying it (only over for about 2 days). My main query was whether limits can regularly be broken? Possibly a couple of purchases made in quick succession baffled their computer ? I wonder what would have happened if I tried another purchase ? No biggie really, just curious.

 

[accelerator]

I don't think the CC limit is usually a hard limit, i.e. it wouldn't necessarily reject a payment if you are going over the limit; after all, credit card companies make money by getting people into more debt.

The best thing to do would be to only pay by credit card when it's vital, e.g. getting the additional protection when shopping online.

 

[johnny2007]

Some purchases don't go through immediately and if you look at the online banking or app, some very recent ones will show as pending.
Maybe those don't count towards the credit limit and then when they go through you can go over the limit.

 

[Mottie]

I always thought that as soon as it was pending, it was counted against your limit precisely to stop you going over the limit.

 

[Notch7]

I had a credit card which I used up to the limit each month (paid off full amount every month) and they kept increasing the limit, it got upto around £10k and got them to cut down to £3k.

Sneaky fekkers

 

[Murdochcat]

I didn’t think that CC companies are allowed to increase your limit these days with out the customer actually asking

 

[motorbiking]

When I get close, I usually just transfer some money over to pull it down again. CC are handy for the points and cash back. Probably handy if you don' have a mortgage etc.. just to maintain a credit rating.

 

[Harry Bloomfield]

They have a limit, but it is not a hard limit. If you pay a bill a bit over the limit, they will honour it. My limit is £2,500, but was higher when I used to make more use of it, since when they decreased it, so it must depend on what you normally make use of it for. My card is paid off, in full, each month automatically from a debit account.

 

[SPLINE]

The normalisation of debt has ruined this country and its people.

 

[Ihavenojob]

The main reason I use the cc is because I thought the limit meant it stopped at that figure, so if I lost it or had it stolen, no more than the limit could be spent. I normally pay by cash, but sometimes I might not have enough.