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When you charge more than your current credit limit
What else can I help you with?
Can you overdraw on a credit card?
Yes, but the card issuing bank would charge you over limit fee and other additional fees if you exceed your credit limit
Why was a widow's charge card credit limit decreased when she paid off her deceased husband's charge card?
It is unlikely that the limit was lowered because of the pay off. Many card issuers are pulling limits back regardless of payment history or credit history. My suggestion would be to contact the card company and ask for an explanation of the reduction.
If you voluntarily decrease a credit limit on a credit card does this look bad on your credit score?
i can only give you my opn **IT WOULD LOOK LIKE FOR SOME REASON like your credit card company lowered your limit do not do it. JUDE KAGABINES LEXINGTON SC
Do prepaid cards play an important role in establishing someone's credit history?
No... simply because they're pre-paid. You 'charge' the card with cash - and use that instead of 'real' money. You cannot overdraw on a pre-paid card. To establish your credit history - you would have to be approved for a credit card (some companies will give cards to 1st time users). Once you get the card - use it sensibly. Don't 'max it out' to its limit. Pay off as much as you can each month, and don't ask for an increase in the credit limit. This establishes you as a sensible user - which often results in the company offering an increase in your credit limit.
What kind of fees would a credit card processing service charge?
Fees are typically based on a percentage of the credit card sale. This can range from 1-3% based on the company.
Do credit cards with low credit lines hurt credit scores?
No, the score model recognizes the balance on the account in proportion to the credit limit as a percentage. For example, if you have a balance of $10,000 with a $ 50,000 credit-limit your proportion of balances to credit limit would be 20%. Vote on our video at www.wowifixedmycredit.com
How much is a two percent purchase on a credit card?
It will depend on how much your credit limit is. For example, if your credit card limit is $500, a two percent purchase on your credit card would be $10.00
How can you obtain a better credit score without much work?
BY PAYING YOUR BILLS ONTIME, KEEPING THE BALANCE UNDER 40% OF THE CREDIT LIMIT. The lower the debt to credit limit ratio, the better. I would try to stay under 25% of your credit limit.
If a credit card company lowers your limit how does it effect your credit score?
yes it does fight it and do not allow them to lower it advise them that if that happens you would consider closing and find a new bank. ***JUDE KAGABINES LEXINGTON SC
How would you find the available credit limit for cardholder?
Listed besides card on credit report
Can you transact below the floor limit with a card that has a transaction limit of 0.00?
The only way to accomplish this would be to pay the CC company without owing them anything. Your statement would then show a credit. You would get a far better return putting money into a savings account instead.
Can you use your credit card for foreign currencies and is there any extra charge to this?
You can use your credit card to charge items that are priced in different currencies. Most consumers who travel overseas do this. The exchange rate is factored, according to the contractual terms on your account, and your billing statement then shows the charge in U.S. Dollars. Whether or not there is an additional charge would depend upon the fine print in your contract. Contact your credit card company for the specifics.
