barclaycard- over credit charge

smithja

from that list you went over your limit by £6.99 on 21 May, with the transaction for £9.99, you balance on that day was £1506.99 and your credit limit is £1500.

I calculated this from having a debit balance of £697 at the start date, taking away a debit of £700 on 15 May, adding a credit of £700 on 20 May, then taking away a debit of £700 followed by £9.99 both on 21 May.

After that you remained within your limit, but that one day was enough to trigger the charge.

somnerd13

leeegglestone wrote: »

Previous statement £697
20th may - 700CR
27th 800CR
2nd june 700CR
5th June 1000CR
9th June 700CR

15th May 700
21 May 800
21 May 9.99
28th May 700
30th May 90
4th June 700
9th Over Credit Limit Charge 12
9th June Purchase 2% Cashback 50 CR

Unfortunately with Barclaycard, you can make repayments to your card whenever you like but they won't be calculated towards the final balance until the 'due' date.

For example:

Limit: £1000 Balance: £0

£500 spend
£250 spend
£750 credit
£300 spend

After this your balance would be £300 and at no time was your balance more than £1000. However, Barclaycard wouldn't calculate the credit until it's due date, therefore your balance was actually £1050 in their eyes! :mad: I found this out the hard way and nearly ending up losing a promotional rate on a balance transfer. Thankfully they have waived this "rule" in this instance for me. I still have yet to find any mention of this "rule" anywhere, though.

P.S. You make it a little confusing when you say you went "over your credit limit". What you mean is that your balance went "into credit".

methusala_2

exactly right somnerd and good example explanation. I too got caught in same trap when doing a BT to Barclaycard and like you they dealt with it by " Chrystalising " a technical standard balance at 6.9% after lots of phone calls and pleading. Thats why I guessed that Leeeg had exceeded his limit at some point prior to his statement date.

johnmoney05

leeegglestone wrote: »

Previous statement £697
20th may - 700CR
27th 800CR
2nd june 700CR
5th June 1000CR
9th June 700CR

15th May 700
21 May 800
21 May 9.99
28th May 700
30th May 90
4th June 700
9th Over Credit Limit Charge 12
9th June Purchase 2% Cashback 50 CR

I am not sure it is right credit not count untill due date. Because otherwise Leeegglestone should have been charged more than once of £12. BUT Leeegglestone was certainly over his credit limit.

Previous statement £697
15th May 700
20th may - 700CR
21 May 800
21 May 9.99

Balance on 21 May was £1506.99 which was over the limit of £6.99 as Smithja's post already pointed it out.

leeegglestone

yea thats right somnerd.
i went into credit, i find it ridiculous that i get a charge for that.ud think they would be pleased, as they would have more money in their system, or maybe thats the point, theyd rather i go into debt and payment interest.

either way, they have stung me just as if id gone into debt. grr

johnmoney05

leeegglestone wrote: »

yea thats right somnerd.
i went into credit, i find it ridiculous that i get a charge for that.ud think they would be pleased, as they would have more money in their system, or maybe thats the point, theyd rather i go into debt and payment interest.

either way, they have stung me just as if id gone into debt. grr

Sorry to hear your story. You didn't seem to understand that you didn't get charged because you went into credit. You got charged because you went over your limit. You did get into credit, but that was after you went over your limit.

izools

Do you clear the balance in full every month?

If so, set up a direct debit to take the full amount.

This way you will be sure that no interest or charges are incurred.

I take it that the reason you make interim payments during the month is because you spend more than your credit limit each month?

If you keep the spending under the limit and keep the DD setup, three to six months after account opening you should recieve an increase in limit.

However, the danger of running the account the way you are at present is not only that of charges if a credit to the account reaches it a day or two after the debit leave, it will also reduce the "internal credit score" on Barclaycard's systems and put off your eligibility for a limit increase for quite some time!