Credit Card 'over limit' charge

ajhaeh

Hi,

If you are not already aware, then it may be worth your while to check your 'charges' if you have recently exceeded your credit card limit. At the end of May I overstepped the mark on my cc limit with Tesco Visa. I was working away and by the time I had realised it took me a few days to get the payment off to Tesco. That cleared in the first week of June yet I have just been reading my statements and I was charged the fee of £12 for exceeding the limit in May - and also £12 for June. In my opinion they are having two bites of the cherry, as I only exceeded the limit once.

I called Tesco and after getting through all the automated services spoke to a human being and after some 'negotiation' the charge was refunded... although reluctantly. 'From our records you were over the limit in May & also June'.... Yes but I only exceeded it once!

I also queried that 5 days ago, I made an electonic payment to the card, and although the money was taken from my bank account the next day, I am still waiting for it to appear on my cc statement.

'It takes 4-5 working days for an electronic payment to clear'..

Why? Probably because its sat in Tesco's bank account making them interest rather than clearing my account and losing them income from my interest charges.

For your info and one's to watch...

keeperbear

I agree with your frustration, but you should expect payments to take up to four working days to arrive with the credit card company. It is better to play safe.

youknowwho

When you go over your limit, it needs to be under it again before the statement is printed for the next month otherwise you are still over your limit. They can charge £12 evry month you are over, its just unluvky that you were over your limit at the end of one billing month and the start of a new one, easily within 4-5 days.

adon30

I had the same thing with Tesco.

Went overdrawn by £5 in the previous statement period (put to much petrol in.... at Tesco store!!). As this was my third time (I have got the last two back) of going slightly overdrawn I accepted I would be charged. Fair enough extra £12 to pay. So a total of £17 overdrawn.

During the last period I paid of the balance in full not exceeding my credit limit again during that period. At month end I was £500 under my credit limit. Yet on my last statement I had a £12 fee for exceeding credit limit!!!

I had to phone Tesco and get them to try and explain why there was this charge. Which they could not. They then said in this instance they would refund it. A little bizzare as I hadn't gone overdrawn. This I explained to the person on the phone but they seemed unable to grasp the concept.

Still waiting for the refund on the card....