over limit fee

Bunny_Chunks

Hi
I have a Tesco Credit Card, near to its max.
At the end of the month, tesco apply their interest to my account, which takes me over my credit limit and then charge me £12 for going over credit limit.

Is this allowed. Should i be paying over limit charges cause of their interest taking me over my limit?

Many Thanks
Bunny
:mad:

YorkshireBoy

Bunny_Chunks wrote: »

Is this allowed. Should i be paying over limit charges cause of their interest taking me over my limit?

Yes, and yes.

You're told what the estimated interest will be on the preceding statement, based on you making the minimum payment on the due date and, crucially, not spending further on the card.

It follows, therefore, that if you continue to spend, the interest charged to the account at statement date will exceed the estimated figure previously advised.

Superheavy

If it was just once then you might be able to get away with it with a little bit of pleading and apologising, or even getting a bit arsey, but if its every month, then I doubt they'd look to refund such regular fees.

Unfortunately, as Yorkshire Boy said it is allowed.

Gromitt

The interest is added to the card as a transaction, and by the terms and conditions of your account, if the interest causes you to exceed your credit limit, they are within their rights to charge you £12 for doing so.

alfred64

Pay some off now to stop your going overlimit when the interest hits.

Melissa22_Mum

Yep Barclaycard have been doing it to me for over a year. It's a merry dance. I sorted it out with a payment plan, paid in branch one day as it was the only day I could afford, then they started charging me again. Been over by 50quid for ages now. I've written a million times but doesn't make a difference.

opinions4u

This sort of post furstrates me so much.

If you don't want nasty fees, don't operate so near to the credit limit.

It's a maximum, not a mandatory sum for borrowing.

Bunny_Chunks

Thank you everyone for your help.
If opinions4u would like to pay my bills and help me and my family eat for the next month and buy xmas presents and basicaly live, then i am sure no additional posts would be posted to create frustration.

I thought this was a help forum, nit a "state the obvious" forum....my mistake.

Thanks

opinions4u

Bunny_Chunks wrote: »

If opinions4u would like to pay my bills and help me and my family eat for the next month and buy xmas presents and basicaly live, then i am sure no additional posts would be posted to create frustration.

Buy cheaper Christmas presents then. That's what I've done when I've been a bit short in December.

I thought this was a help forum, nit a "state the obvious" forum....my mistake.

If you operate well below your credit limit, you don't get over limit fees. If that advice is unhelpful I apologise. If it's stating the obvious, why have you put yourself in this position?

_Andy_

O4U - how dare you not give the OP the reply they wanted. Shame on you.

Gromitt

A couple of years ago I couldn't afford any christmas presents either, but rather than just put them on a credit card and complain to the bank when they sent me a bill, I didn't buy any. Tough times is tough times. If you only spend what you can afford, you don't get into debt. If you don't get into debt, you don't get loads of charges and fees.

Talking about frustration, we even had the electric turned off as the card meter ran out and we didn't have the funds to top it up. Could have asked for an overdraft to pay for it but didn't want the credit (and would probably have been rejected anyway, being unemployed at the time). Luckily that was only for a day - a Sunday.