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Overlimit fun (not)
Bonzai_2
Posts: 1 Newbie
in Credit cards
Hello all. This is what happened to me when I went over my limit on my Tesco bank credit card last month.
I got a letter informing me that I was £xxx.yy over my credit limit and that I was to bring the account back under the limit immediately. Which is what I did: I made 2 payments on the same day from my bank account, and then I took advantage of a 0% balance transfer on my other card to remove a couple of thousand from the offending credit card. And I thought that was that.
This morning I went into my bank account to do something else, and I noticed that £xxx.yy had been taken from the account by Tesco under my direct debit. "That's funny" I thought: "the very same amount by which I went overlimit". :mad: So I rang Tesco.
Eventually I made the man on the other end see that the overlimit amount was exactly the same as the direct debit amount. Then I asked him what would have been the amount of the direct debit had I not paid the £xxx.yy as requested as soon as I knew about it. "Exactly the same" he said. So then I told him that I had obviously wasted my money doing what they had asked me to do and bringing my account back under limit and I wanted that money back. I told him I intended to use that card to transfer the money from the card to my bank account, and he told me not to do that. There is an Incorrect Payment Refund available to me. So I asked him to process that: I gave him the details of the bank account where I wanted the payment to go, and he told me it would take 2 - 3 working days.
Result! :beer: I'm not really celebrating until I see that money in my bank account though.
But I'm posting this here for your comment. From my experience here, the next time I receive a letter asking me to bring my account back under the limit, I'm going to ignore it. And I'm also going to try and pay that account off as soon as I can.
Chris
I got a letter informing me that I was £xxx.yy over my credit limit and that I was to bring the account back under the limit immediately. Which is what I did: I made 2 payments on the same day from my bank account, and then I took advantage of a 0% balance transfer on my other card to remove a couple of thousand from the offending credit card. And I thought that was that.
This morning I went into my bank account to do something else, and I noticed that £xxx.yy had been taken from the account by Tesco under my direct debit. "That's funny" I thought: "the very same amount by which I went overlimit". :mad: So I rang Tesco.
Eventually I made the man on the other end see that the overlimit amount was exactly the same as the direct debit amount. Then I asked him what would have been the amount of the direct debit had I not paid the £xxx.yy as requested as soon as I knew about it. "Exactly the same" he said. So then I told him that I had obviously wasted my money doing what they had asked me to do and bringing my account back under limit and I wanted that money back. I told him I intended to use that card to transfer the money from the card to my bank account, and he told me not to do that. There is an Incorrect Payment Refund available to me. So I asked him to process that: I gave him the details of the bank account where I wanted the payment to go, and he told me it would take 2 - 3 working days.
Result! :beer: I'm not really celebrating until I see that money in my bank account though.
But I'm posting this here for your comment. From my experience here, the next time I receive a letter asking me to bring my account back under the limit, I'm going to ignore it. And I'm also going to try and pay that account off as soon as I can.
Chris
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Comments
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While I sympathise to some extent with your plight, the fact remains that you abused the card by going over limit in the first place. It is the latter action which has caused all your problems.But I'm posting this here for your comment.
If you are regularly going over limit (or skirting close to it), then I suggest you post your SOA over on the "Debt Free Wannabe" board.I'm also going to try and pay that account off as soon as I can.0 -
I had this with a BT card - I clearly transferred after the DD was generated so I had the cash taken from my account on 2 cards even though I had done the BT ending up with both in credit - not a major issue as I just carried on spending as normal until they were down to zero buy was a lesson for me
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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