Credit Card cashpoint withdrawal over limit


If you withdraw money from a cash machine using your credit card and you went over your credit limit amount on the card would the credit card get refused or would it go over and give you the money?


  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    Combo Breaker First Post
    Depends on the card, the bank and the computer. The computer should say no....but it depends... you may have outstanding transactions that have not yet posted to the account so you could go shopping first spending up to the limit then immediately go to a cash point and withdraw that same money and the computer might just say yes. I don't recommend you try that on purpose. If you do find you accidentally go over limit get the over limit part paid off ASAP. If you clear it before the statement is produced you might find it has no effect on your credit report.
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • avfc82
    avfc82 Posts: 83 Forumite
    Thanks for the reply.
  • aleph_0
    aleph_0 Posts: 539 Forumite
    First Post First Anniversary Combo Breaker
    As HappyMJ says, it depends. The credit limit is a tool for the credit card company, not for you. So a company can choose to let you go over the limit if you put transactions through that go over it (which is an implicit request from you to go over your limit). It's also possible that some transactions have occurred offline and haven't been reported to the card company yet - so the credit card company doesn't know that you are going over your limit.

    If you're posting because you think this might help with debt situation, I suggest it might be worth you visiting the DFW board
  • [Deleted User]
    Halifax/Bank of Scotland cards let you go over your limit by about 20% of your limit before they decline transactions but Barclaycard don't let you go over at all.
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