Going over credit limit and making payment on same day.

brutus6

I made a purchase earlier today and went over my credit limit today by approx. £9, due to a miscalculation of when my last payment would be made (by only two days I might add).

Anyway I contacted my credit card company and made a one off payment today of £10.

Do you think I will get charged an over the limit fee and if so, is it possible to challenge it with the credit card?

I am hoping that credit card accounts get reconciled at the end of the day, so any payment made will offset the purchase, even if the payment to my card was made about an hour after the purchase and so mean technically I wasn't over my account. Hope that makes sense.

I tried finding an answer on-line, but couldn't find any info.

Thanks in advance all.

shortcrust

No one can say for sure whether they'll charge the fee. Just wait and see. If they do you can probably get it refunded if it's the first time. There's no basis for 'challenging' it but I've always had charges refunded by asking nicely. "Oh how silly of me, as you can see I'm usually so careful..." etc.

YorkshireBoy

Chances are your purchase made today won't be posted to your account until Tuesday.

However, as you've made a debit card payment today (have you?) the chances are that won't clear until Monday night/Tuesday.

You'd have been better making an FP from your bank account to minimise the risk.

brutus6

Payment was made today on my debit card... my normal direct debit payment is due to go in on Monday anyway.

Fingers crossed with all the various payments and the purchase that the account will have enough credit limit for when the account is reconciled.

If not, I'll have to play ignorant and ask for them to wave the £12 charge. Shouldn't be hard to play that, as I honestly didn't do it on purpose.

Thanks guys, I'll keep you posted on what happens.

YorkshireBoy

The DD will cover it, and will hit before the debit card payment clears.


Just out of interest, do you have online access to the credit card account? What does it say is your "available to spend" figure?

chattychappy

shortcrust wrote: »

No one can say for sure whether they'll charge the fee. Just wait and see. If they do you can probably get it refunded if it's the first time. There's no basis for 'challenging' it but I've always had charges refunded by asking nicely. "Oh how silly of me, as you can see I'm usually so careful..." etc.

I agree. Except there is indeed a potential basis. Penalties must be a reasonable reflection of the cost of a breach. £12 has become a defacto standard since some years ago the OFT decided that anything more would be presumed to be unenforceable. They pointed out that what was reasonable would depend on the circumstances - and that no particular figure would be automatically OK. Despite this, the CCs all settled on £12 for a multitude of naughty behaviour. (Prior to this, some CCs were charging £25/£30 for a late payment etc.)

So I would ask nicely. But should they refuse, then I would challenge them to show how they have incurred £12 of costs dealing with this incident. (Any phone calls to you? Any letters generated?)