Wrong card used, help please.

bluemeadow

Hi I was hoping someone might be able to help me, I used the wrong credit card today to buy something from argos which is exempt from to 30 day money back guarantee the thing is I used the wrong credit card and am now over my limit and will be charged £12 every day I am over, so I want to know if I go into Argos tomorrow will they be able to refund the money and put it straight on anothercard even though it is exempt? Thanks in advance for any help.

Better_Off_1983

Out of interest what item was it.

Even if Argos can do the refund, it could take up to three days for the card to be refunded.

I have never heard of this request before, I am quietly assuming that they will do it because you will not be returning the item, just swapping the cards.

CLAPTON

which card do you have that charges 12 per day?
how much are you over

bluemeadow

It was an ipod, went about 100 over my limit, is a barclaycard.

sharpy2010

How on earth did they authorise a payment £100 over and above your limit?

I know theres the argument that says you should keep an eye on your balance (although in this instance the OP simply made a mistake), but authorising a transaction that will take you £100 over your limit seems outrageous to me.

DavidDebt

I believe it's common practice for Cardholder Present transactions to be authorised by the card issuer even though this takes a person over his/her limit. I would imagine even more so if the transaction value was below that retailers floor limit for online auth.

Once a transaction has been "authorised" then the card issuer is required to honour this regardless of impact on credit limit being exceeded.

Hope this helps.

Better_Off_1983

Maybe the transaction went through because of the merchant's floor limit... I work for a credit card company and I have seen it happen many times.

Also, you need to bear in mind the merchant interest whenever the statement is made up as well... you will be suprised the amount of people who have a £5k limit for example, spend £5k and forget about the interest every month

dalesrider

sharpy2010 wrote: »

How on earth did they authorise a payment £100 over and above your limit?
.

People need to remember that in these days of the ability to pay funds straight back into the account. limits are becoming far easier to go over.
They have never been a solid wall.

Doubt that Argos would refund then redebit. But you could ask.

Best bet is to get that overlimit refunded back to the card now. If you don't have £100 to spare somewhere, why are you spending so much on a i-pad?

Even if it means getting some cash out on the other card. It could be cheaper tham the fee's on B/C.

I doub't that a I-Pad would be under Argos's floor limit.

richardmk

Swapping to another card may sound straight forward - but it presents a risk to the retailer if they refund first, and then charge as the second card may be declined...
Would it be cheaper to find the funds by cash advance from another card and then make a faster payment to barclaycard ?

Janie4Now

Phone up Barclaycard and beg them to up your credit limit for a month. Apologise profusely and they may even waive the charges provided you've been good in the past with them.

If all else fails, get a cash advance from that other credit card (if you haven't got any cash spare elsewhere) and pay that into your Barclaycard account pronto!

warwicktiger

I think you will find that if they are prepared to do a refund they will only refund to the account used for the purchase.