CREDITCARD Limit

aspiration_2

Credit card limits are there to charge a penalty fare if one goes over it.

Is there a credit card that will simply cut off at the limit when one goes over it? I am worried about internet safety.

PeacefulWaters

aspiration wrote: »

Credit card limits are there to charge a penalty fare if one goes over it.

Is there a credit card that will simply cut off at the limit when one goes over it? I am worried about internet safety.

Credit card limits are not a target to hit or exceed.

Stay within the limit and you'll be fine.

grumbler

aspiration wrote: »

Is there a credit card that will simply cut off at the limit when one goes over it?

All providers can decline transaction(s), but you can never rely on this.

I am worried about internet safety.

What sort of 'safety' and why 'internet'?

mcpitman

aspiration wrote: »

Credit card limits are there to charge a penalty fare if one goes over it.QUOTE]

Incorrect, CC Limits are there to restrict the amount of credit exposure you have.

chattychappy

aspiration wrote: »

Credit card limits are there to charge a penalty fare if one goes over it.

Nonsense..

grumbler

mcpitman wrote: »

Incorrect, CC Limits are there to restrict the amount of credit exposure you have.

chattychappy wrote: »

Nonsense..

Not quite true.
If the limit is in place only to restrict spending, CC providers can easily decline online transactions getting the card over the limit, but most providers usually don't do this and prefer to charge the fee.

lynz68

It is your personal responsibility to ensure you are never anywhere near the credit limit of your credit card.

Unfortunately when you make a purchase on your credit card it doesn't come off your credit card straight away and can take a few days so it is possible to make several purchases on your credit card before the company are aware. This happens both in shops and the Internet.

As has already been said a credit limit is not a target to aim for otherwise I would be out spending that £42000 I have available to me but I take responsibility for my spending and have barely used a tenth of that all on 0%.

Personal responsibility .... Look it up

aspiration_2

grumbler wrote: »

Not quite true.
If the limit is in place only to restrict spending, CC providers can easily decline online transactions getting the card over the limit, but most providers usually don't do this and prefer to charge the fee.

Hi grumbler, Thank you for understanding the 'irony' part of my post. It appears to have gone over the head of some.

I think the CC providers can easily stop going over the limit and cut off but have chosen not to.

I am always within my limit. With so many retailers storing CC details I am worried that some employee might pass on the details to clone the card and make a large over the limit purchase.

grumbler

They aren't allowed to store CVVs. Also, there are Verfied By Visa and Mastercard SecureCode in place. Merchants not using them are fully responsible for all fraudulent transactions.

If you mean physical cloning, the chips are impossible to clone apparently.

PeacefulWaters

aspiration wrote: »

Hi grumbler, Thank you for understanding the 'irony' part of my post. It appears to have gone over the head of some.

I think the CC providers can easily stop going over the limit and cut off but have chosen not to.

Perhaps the don't like dealing with complaints about customers being embarrassed when the card is declined.

By the way, some over limit transactions are blocked. Some aren't. An automated judgement call is made.

I am always within my limit. With so many retailers storing CC details I am worried that some employee might pass on the details to clone the card and make a large over the limit purchase.

The fraud liability sits with the retailer.

grumbler

PeacefulWaters wrote: »

Perhaps the don't like dealing with complaints about customers being embarrassed when the card is declined.

I don't see anything to complain about.

By the way, some over limit transactions are blocked. Some aren't. An automated judgement call is made.

Yes, but all automation is pre-programmed by humans.