Pending Transactions??

oceanscape

I need some help with my Amazon MasterCard.

It shows the following on the online banking....


CURRENT BALANCE: £596.13
VALUE OF PENDING TRANSACTIONS: £652.28 CR
AVAILABLE CREDIT: £703.87


Does the value of pending transactions affect my available credit or not? My credit limit is only £1300 so it does not seem to be affecting it according the online banking, since it says I still have £703.87 available. I know that one of those "pending transactions" is for a hotel booking which I have now cancelled (so the money will not be claimed). The online banking lists my "available credit" as £703.87 but is this correct? Or will my card be decline if I attempted to spend that much, because of the pending transactions?

Thank you

Geenie

I always add anything pending to the amount I have spent, as it can go through at any time, sometimes hours later. And refunds can take awhile to be paid back, depending on the company and how long they hold on to the money, so I wouldn't assume this to have gone until you see it showing. So you are near your card limit until your next payment.

oceanscape

So it's wrong when it says my "available credit" is £703? For example, if I went into a shop and tried to buy something for £703, my card would be declined?

HeadInSand_2

Available credit is available credit, so it's unlikely the card will be rejected. The point Geenie is making is that you might spend £100 on the card which all goes through ok, then at midnight tonight the pending transaction clocks over putting you nearly £50 over limit (jeopardising any deals you may have plus incurring fees and marks on your credit file) - even though you've cancelled the transaction, it may take until, say, Tuesday for the refund to show on your card. Just be cautious, easy to get burnt.

missbargain

Can I also ask something about pending transactions, please?

When I pay my credit card statement, I usually pay in full the amount due to be paid by a certain date. But, will the pending transactions accumulate interest until my next due payment?
What I am asking, should I pay both pending transactions and amount due at the same time, in order to avoid interest? Or am I safe just to pay the "due amount" and to leave pending amount to go onto my next statement.

Thank you, this confuses me a bit.

Moggles_2

missbargain wrote: »

When I pay my credit card statement, I usually pay in full the amount due to be paid by a certain date, but will the pending transactions accumulate interest until my next due payment?

No. You need only settle the statemented balance to avoid interest

missbargain

Thank you very much! This has been confusing me, now I am clear. Cheers!

tuggy12

oceanscape wrote: »

VALUE OF PENDING TRANSACTIONS: £652.28 CR

Does the CR not mean there are transactions to be credited to your account, rather than debited?