overlimit in credit card

samkam

I had a credit card which has a limit and have been using for shopping with out keeping in mind about the balance. when I checked my statement, I was charged £12 for exceeding the limit by £3.00. this is my new credit card, have been using for few months now.

Can credit cards go over limit? I am not aware of any credit card that allows going over limit and being charged. I am not happy with that, what can i do to avoid in future? is there anyway i can avoid that charge.

Many thanks
samkam

[Deleted User]

Just about all cards can go over limit.

The way to avoid the charge is to monitor your spending and not go overlimit. If you find this difficult, you could make interim monthly payments.

Fruit_and_Nut_Case

samkam wrote: »

I had a credit card which has a limit and have been using for shopping with out keeping in mind about the balance. when I checked my statement, I was charged £12 for exceeding the limit by £3.00. this is my new credit card, have been using for few months now.

Can credit cards go over limit? I am not aware of any credit card that allows going over limit and being charged. I am not happy with that, what can i do to avoid in future? is there anyway i can avoid that charge.

Many thanks
samkam

Most credit cards will let you go slightly over the limit, partly to save the user the embarrassment of having their card declined and partly because the issuer will make money off the user.

To avoid that in the future, dont go over the limit.

Call them up and apologise. Grovel if you must. They may refund the charge if this is your first infraction.

JakeGreen

samkam wrote: »

Can credit cards go over limit? I am not aware of any credit card that allows going over limit and being charged. I am not happy with that, what can i do to avoid in future? is there anyway i can avoid that charge.

Pretty much all cards will let you go over the limit.

It's up to you to monitor your spending.

If you clear the balance each month and you're approaching your limit regularly you should look at increasing your credit limit as it doesn't fulfil your needs.

Failing that, apply for more credit and spread it over more cards.

If you can't afford to clear the balance and you are running near your limit, then you should really stop using the credit card and try to reduce your spending so that you can reduce your debt and the amount of interest you are paying each month.

_Andy_

samkam wrote: »

I had a credit card which has a limit and have been using for shopping with out keeping in mind about the balance. when I checked my statement, I was charged £12 for exceeding the limit by £3.00. this is my new credit card, have been using for few months now.

Can credit cards go over limit? I am not aware of any credit card that allows going over limit and being charged. I am not happy with that, what can i do to avoid in future? is there anyway i can avoid that charge.

Many thanks
samkam

Yes they can go over the limit. You know this is the case as it's just happened to you.

What can you do to avoid it? Don't go over your limit.

Hardly rocket science is it

Herbalus

It may not be rocket science, but it does happen. A miscalculated 'estimate' of the exchange rate while abroad put me over today by a few pounds. Not a great idea I know to estimate the exchange rate, but I called the company, spoke to a lovely chap, and said the FP I just sent would cover it so the charge would be refunded if applied. He did warn that this goodwill gesture only happens once every 12 months though.

That's quite generous I feel - I almost think I don't deserve a refund as it clearly was my mistake!

jonesMUFCforever

Herbalus wrote: »

It may not be rocket science, but it does happen. A miscalculated 'estimate' of the exchange rate while abroad put me over today by a few pounds. Not a great idea I know to estimate the exchange rate, but I called the company, spoke to a lovely chap, and said the FP I just sent would cover it so the charge would be refunded if applied. He did warn that this goodwill gesture only happens once every 12 months though.

That's quite generous I feel - I almost think I don't deserve a refund as it clearly was my mistake!

IMO You should never exceed 95% of your limit in case of things like you describe. Always always leave room to manoeuvre.