What happens if you go over the transfer limit (but not the credit limit)?

edinburgher

I made a BT to a Halifax card today and by transferring the 'amount available to transfer', I have managed to go past the 90/95% (would need to check my spreadsheet) allowed for transfers.

1) Is this a major issue? I.e. can they demand repayment
2) Are the figures that show the amount available to transfer unreliable? This is the 2nd transfer I've made to the card, so while there are a couple of transactions to settle, I wouldn't have imagined that it was particularly difficult to calculate!

I remain well within the credit limit.

molerat

Many cards have a strange idea of what the 95% figure is based on so I wouldn't worry. It stated that amount was available to transfer and they allowed it. Just did a check and Halifax will only allow me to BT to 94.4%. Tesco allow 95% of the available credit so I managed 99% with multiple transfers.

edinburgher

Thanks for that molerat, I agree that the calculations used for some cards make no sense. I've found some to be perfectly straightforward (Barclaycard), but others a bit odd. I will cease being worried and will get on with my stoozing

Ben8282

edinburgher wrote: »

I made a BT to a Halifax card today and by transferring the 'amount available to transfer', I have managed to go past the 90/95% (would need to check my spreadsheet) allowed for transfers.

1) Is this a major issue? I.e. can they demand repayment
2) Are the figures that show the amount available to transfer unreliable? This is the 2nd transfer I've made to the card, so while there are a couple of transactions to settle, I wouldn't have imagined that it was particularly difficult to calculate!

I remain well within the credit limit.

I don't believe this should be a problem so long as they have allowed it to go through. Just be absolutely sure you do not to exceed your credit limit (balance transfer fee etc)..

dontgetcaught

My wife did two BT with Nationwide

Both when though ok.

But with fees put the account just less than £100

We got a letter, transferred the cash and all seem ok

Chrysalis

I would be surprised if they suddenly demanded repayment, its mostly computer controlled, so if they approve the transfer then thats that its approved, just honour your repayments and should be fine.