£12 over limit fee for going 73p over for 2 days

kaMelo

With all due respect you need to look in the mirror and take some responsibility, a credit limit is a limit not target to aim for. You know all the charges they will apply and still continue to spend up to and over the limit whilst blaming the bank for allowing you to do so.

I would suggest maybe a post on the debt free wanabee forum to try and get your spending down to a level where you don't need to borrow money on such a regular basis.

moneymoner

kaMelo said:

With all due respect you need to look in the mirror and take some responsibility, a credit limit is a limit not target to aim for. You know all the charges they will apply and still continue to spend up to and over the limit whilst blaming the bank for allowing you to do so.

I would suggest maybe a post on the debt free wanabee forum to try and get your spending down to a level where you don't need to borrow money on such a regular basis.

I agree with mostly what you said, but my issue is not being in debt or using a credit close to it's limit.

But I'm specifically talking about the subject posted in this conversation. I do not use a credit card for extra income, I use a card just to obtain access to online services, security deposits and purchases where cash is not accepted. I'm not in debt but I totally disagree with charge imposed on this person who started the conversation.

I would suggest that he/she contact his CC provider and dispute the fee or contact the FOS and explain that the card was mis-sold to them and the credit limit was increased without their knowledge.

moneymoner

The £12 over limit charge would put this card far more over the limit than the negible amount of a few pence.

To me, I see the bank or cc provide being irresponsible with their charges more than what sounds like an  oversight by the poster.

Nebulous2

moneymoner said:

kaMelo said:

With all due respect you need to look in the mirror and take some responsibility, a credit limit is a limit not target to aim for. You know all the charges they will apply and still continue to spend up to and over the limit whilst blaming the bank for allowing you to do so.

I would suggest maybe a post on the debt free wanabee forum to try and get your spending down to a level where you don't need to borrow money on such a regular basis.

I agree with mostly what you said, but my issue is not being in debt or using a credit close to it's limit.

But I'm specifically talking about the subject posted in this conversation. I do not use a credit card for extra income, I use a card just to obtain access to online services, security deposits and purchases where cash is not accepted. I'm not in debt but I totally disagree with charge imposed on this person who started the conversation.

I would suggest that he/she contact his CC provider and dispute the fee or contact the FOS and explain that the card was mis-sold to them and the credit limit was increased without their knowledge.

To clarify then, are you saying this doesn't affect you, your issue is on behalf of somebody else? 

It's difficult to relate to people in that position, when I'm not in it myself, but having to watch every penny and then losing £12 must be a miserable place to be. 

A credit card company will often waive a first fee, If you phone and ask nicely. 

They aren't going to change their policies for a small number of people, especially when a change would annoy more people than it pleased. Declining a payment would cause real problems for many people. 

Some banks used to give a free hundred pound overdraft as a buffer. 

You or the other person could effectively set their own buffer, £100 below the card limit. Then you wouldn't need to worry about a small payment putting you over the real limit. 

moneymoner

Nebulous2 said:

To clarify then, are you saying this doesn't affect you, your issue is on behalf of somebody else? 

It's difficult to relate to people in that position, when I'm not in it myself, but having to watch every penny and then losing £12 must be a miserable place to be. 

A credit card company will often waive a first fee, If you phone and ask nicely. 

They aren't going to change their policies for a small number of people, especially when a change would annoy more people than it pleased. Declining a payment would cause real problems for many people. 

Some banks used to give a free hundred pound overdraft as a buffer. 

You or the other person could effectively set their own buffer, £100 below the card limit. Then you wouldn't need to worry about a small payment putting you over the real limit. 

No, I'm reply to the person who started the conversation and talking about the subject title.

I then went on to point out that the credit limit is variable and not a limit as it is represented or understood by me

when I applied for a credit card.

Sure, set a limit of £0 and keep the card in a drawer, but this does not help the person who started this conversation.

born_again

moneymoner said:

The point I make is that, although I don't really disagree with electronic payment methods entirely, I do disagree with the exploits the cc's use in order to charge extortionate fee's as in subject of this conversation.

Like I said previously, I also have many micro-payments and debits registered with my card but dates are never on the exact day or taken when expected. Checking my account blanace every day is a much longer process than many may think, esp if you do not use mobile banking or are have a disability.

Many here seem to think that banks and cc's are right in the fee's and charges that they endorse but seems this was not right before the whole cahrging and fee system was reviewed.

Charges have been approved by the regulator as being fair. If you do not like the charges, then make sure you stay within your limits. It is that simple.

Perhaps you need to sit in a banks call center & listen to the other side when a transaction is declined for lack of funds.... YES it does happen. People get really upset when that happens. 
Look at the posts where peoples card are declined while out shopping and how they feel it is personal.

You are forgetting that now you have until the end of the day to bring your account back within it's limits. 

The public get what the public wants.

moneymoner

born_again said:

Charges have been approved by the regulator as being fair. If you do not like the charges, then make sure you stay within your limits. It is that simple.

Perhaps you need to sit in a banks call center & listen to the other side when a transaction is declined for lack of funds.... YES it does happen. People get really upset when that happens. 
Look at the posts where peoples card are declined while out shopping and how they feel it is personal.

You are forgetting that now you have until the end of the day to bring your account back within it's limits. 

The public get what the public wants.

Agree totally that you cant please all of the people all of the time, I too have had transactions declined when more than the funds were available, frustrating and embarrassing. But I cannot impose a fee or charge on my bank or CC provider for these kind of faults.

Thrugelmir

moneymoner said:

Is it just as impractical to display a notice before making a payment that a transaction would incur a £12 fee, as many cash dispensers do, as it is to simly check a balance and decline a transaction ?

The terms and conditions of the account will clearly state the charges levied in given circumstances. Onus is the account holder to read and comprehend them when opening the account. Using the card will determine that the account holder agrees to and accept these terms. 

Elmer_BeFuddled

Never go over 40% of card limit is my motto. I have one card I will run over into the next month (£14K limit), the others get paid off immediately as and when I get my statement.

moneymoner

Thrugelmir said:

The terms and conditions of the account will clearly state the charges levied in given circumstances. Onus is the account holder to read and comprehend them when opening the account. Using the card will determine that the account holder agrees to and accept these terms. 

Thanks but that's obvious advice, but if you don't agree with them you will not be offered the card on your terms. Having some form of credit/debit card is a necessity today as there is not much you can pay for with cash/cheques considering the covid situation also.