Credit Daily Limits

plymouth_janner_boy

Hi all,

I havent posted in a long time and am in a worse state than I was when I joined. (i am a pleb)

However, I'm trying to claw back some of whatever I can even though I know It's my mess and I have a responsiblity to pay it all back (short version of story = gambling on credit cards)

Are there daily limits for withdrawing money on credit cards? in the height of my gambling addiction (19 days gamble free now - not much of an achievement for most but massive for me) I used to get sooo annoyed when I couldnt withdraw more than £400 a day to gamble with (warning sirens should have woke me up then!) but my Post office card let me withdraw £2000 a day.

I'm shamefully suggesting they are in 'the wrong' for letting me use that money and asking if its an avenue worth persuing... desperate measures for desperate times.

dalesrider

Yes there are daily limits.
It will be diffrent for cash or purchases.
Most card providers will keep their limits secret, but its fair to say if you are planning on spending a large amount, not in person. To give them a call.
As it requires a marker to be placed on the card, which will be for a short period. As it in effect removes a security limit.

What you may have hit before is a security check.

JakeGreen

I'm afraid to say you won't get a penny back from the credit card companies for cash withdrawals as you withdrew the money and spent it.

The daily withdrawal limits might be written on the back of your statement. I'm surprised that you had a £2k daily limit on one of your cards!

To put this into perspective, how much do you owe and what are/were you gambling on?!

chattychappy

I was surprised by the £2K cash limit too. I think my cards have generally been limited to £300 to £500.

I'm not aware of any grounds for challenging the CCs over the withdrawals. I don't know much about gambling - I would have thought your best bet would be if any of the organisations you gambled with broke any of their own codes of conduct (if such things exist).

Best of luck for a gambling free future.

sharpy2010

plymouth_janner_boy wrote: »

I'm shamefully suggesting they are in 'the wrong' for letting me use that money and asking if its an avenue worth persuing... desperate measures for desperate times.

If anyone is in the wrong, it is you for gambling the money (although I think you already know this).

Unfortunately the options are either to pay it back, or to risk having a bad credit file for a very long time :-(

In your situation (and I meant this with the greatest of respect), perhaps having a bad credit rating wouldn't be such a bad thing.

dalesrider

chattychappy wrote: »

I was surprised by the £2K cash limit too. I think my cards have generally been limited to £300 to £500.

.

While gambling are classed as cash transactions for interest purposes.
They do not come under your daily atm limit.

chattychappy

dalesrider wrote: »

While gambling are classed as cash transactions for interest purposes.
They do not come under your daily atm limit.

Ah yes. I read the OP's "withdraw" as meaning ATM type withdrawals. But I suppose the OP just paid directly on his card for the gambling. Can never think of spending on a CC as "withdrawing" when really it is borrowing....

The OP referred to the Post Office card. I've certainly spent more than £2K in one go in an airline office on my PO card.

plymouth_janner_boy

Thanks for the replies, it was a desperate long shot but discussing it has helped put the niggling query in my head to bed. Looking back at the other times my 'withdrawals' were refused on other cards it was the security side that stopped the purchase rather than a limit as such.

I was gambling on a live blackjack site.I've since banned myself from it.

I am paying it all back and have worked out it will take me until around 2017 (not just gambling debt, some living beyond my means debt too - moving house, furniture, florida holidays, car).

Thanks for help guys.

sharpy2010

All the best, good luck!