Large single transaction - do they block it?

Firsttimebuyer_4

Hi,

I've just put a deposit down on a new car and will pay the rest and pick it up next week.

I am going to put it on my credit card as i am waiting for some money to come in to my account.

Is there a "block" on how large a transaction can be? My credit limit is £4k and i need to pay £3.5k for the car when i pick it up.

I don't want to get to the dealer and find the transaction will be denied. I know there are cash withdrawel limits but wondered if there is a similar thing with purchases?

It's a Co-op card..if that makes a difference.

Call_Centre_Monkey

Give them a call before you do the transaction, and that may decrease the odds of a security block being put on your account. Even then, the retailer may still be required to phone their authorision centre at the time to get the transaction to go through.

DesG

As long as you are within your available limit you shouldn't have any problems.


Anti-fraud measures may flag such a transaction, but I would assume they would refer it rather than block it.

Just make sure you have the number for co-op customer services with you in case of problems.

Cheers, Des.

Redbedhead

I did this and the credit card company just called to confirm I had made the transaction.

Bossyboots

DesG wrote:

As long as you are within your available limit you shouldn't have any problems.


Anti-fraud measures may flag such a transaction, but I would assume they would refer it rather than block it.

Just make sure you have the number for co-op customer services with you in case of problems.

Cheers, Des.

Sorry, but this is too risky. My credit card is blocked as soon as I make an unusual transaction either by location, internet or value. Until I telephone and answer some security questions my card is unusable.

I now always telephone the card provider to inform them I am going on holiday or that I am making an unusual purchase.

Petmidget

I would get a new card provider, I have never had a transaction queried no matter how large or where purchased. Where I go and what I choose to spend money on is my business.

Fair enough they might ask for phone verification, but to block the card just because I happen to be in Rome for eg and I hadnt informed them is intrusive and bad customer service.

Bossyboots

Petmidget wrote:

I would get a new card provider, I have never had a transaction queried no matter how large or where purchased. Where I go and what I choose to spend money on is my business.

Fair enough they might ask for phone verification, but to block the card just because I happen to be in Rome for eg and I hadnt informed them is intrusive and bad customer service.

I don't agree. I would rather they did this than allow my card to be used fraudulently. They are pro active in telephoning me immediately, so I don't even have to worry about that.

This is far less hassle to me than clearing up the mess if my card was ever to be cloned.

My boss has the same system with his card provider and they were hot on chasing him after a £2,000 transaction was put through his account against his usual spending pattern. The card was blocked and they rang him. It wasn't his transaction and the ones attempted subsequently failed because of the stop on the card.

Petmidget

Yes but its hassle for you. If your card is cloned who's cares? You are not liable for the transaction. I have had 2 experiences of cloning in 12 years of card carrying, both took about 5 mins to sort out.

Whereas if my provider blocked my card everytime I spend money on the net, use it abroad, or someone miles from where I live, or for large amounts, i would be on the phone to them about once a month at least.

Call_Centre_Monkey

I would definately rather have the security system than not have it. And depending on the situation, you may be liable for the transaction, Permidget - so I'm afraid your agrument has just lost a lot of credit

Petmidget

If your card is cloned you are not liable, if its stolen and you have reported it, your not liable. The chances are you will only find out about cloning when your statement arrives or if you get refused because the cloner has maxed out the card.

In these circumstances in my experience, the bank has frozen the account, transferred my card to a fresh account while the dodgy transactions are identified. Then if necessary issued a fesh card.

I am all for customer verification by phone for unusual transactions but default freezing the account for them is just daft.

JasonW_2

Does the dealer know you are paying this way? Normally there is a 2-3% fee and will need to be paid by you.