I f I have a credit limit of $15000 on my Visa and my balance is $14,800, could I still charge $1400 on my card. I mean would the charge be declined or would it be approved or go through and my card would be maxed? I am aware of the stupidity of this question, I just really have an emergency!
2007-04-09 05:47:26 · 9 answers · asked by lipglossaddiction 3 in Business & Finance ➔ Personal Finance
Unlikely, but it might go through. Then you would really be screwed. Being over your limit would almost certainly trigger all the penalty clauses for this Visa account and for all your other credit card accounts. Your interest rates could be raised to 25% or more, depending on each card's specific terms. Plus you would owe an extra fee for being over your limit. You really don't want to try this, believe me.
Call your credit card company. Immediately ask to be transferred to the "retention department." That will get you to a representative who has higher authority to help retain good customers. Ask that rep if they will raise your limit.
Good luck!
2007-04-09 06:07:26 · answer #1 · answered by Anonymous · 2⤊ 0⤋
You are only going to be able to charge the $200 you have left. Also if you called for an extension or increase in your limit, they probably will say NO because you have already maxed out your card... that's what credit counselors will determine by the amount you already have on the card. Credit card companies usually only want you to charge up to half the amount they give you for a credit limit in order to increase or give you a lower interest rate (unless you charge large amounts and can pay them off within 60-90 days). So if its a real emergency you might need to look at another way of getting money... Sorry!!
2007-04-09 13:14:59 · answer #2 · answered by crib2go 2 · 0⤊ 0⤋
Chances are that the transaction will be declined. There is a chance depending on your overall credit history, your standing with the credit card company and the situation, there is a SLIGHT possiblity that you could get approved for a temporary line increase. In some cases, a good faith payment may be required to bring the down the balance considerably. I hope that the emergency is worth enough in the interest that you've racked up with a balance that high...
2007-04-09 15:30:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You Will get declined. You might want to call your credit card company and see if you can get your credit extended to a larger amount. They will do this for people who are good customers, paying on time and such.
Good Luck!
2007-04-09 12:55:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Would you be willing to share what the "emergency" is? Also, would you be willing to tell us what the other $14,800 of "emergencies" were? I'm not trying to belittle you--Just trying to put your "emergencies" in perspective. Be careful with your credit, it's your most valuable financial asset.
2007-04-09 12:58:12 · answer #5 · answered by raringvt 3 · 2⤊ 0⤋
no it would be declined im afraid you have only 200 left on your card, you would have to contact your bank and ask to up your credit
2007-04-09 12:53:27 · answer #6 · answered by cookie 3 · 0⤊ 0⤋
Carrying that much balance on a Visa is not financially smart.
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2007-04-09 12:53:26 · answer #7 · answered by SWH 6 · 0⤊ 0⤋
It will decline, you can pretty much gaurentee
2007-04-09 12:54:58 · answer #8 · answered by Joey W 3 · 0⤊ 0⤋
It will be declined.
2007-04-09 12:55:38 · answer #9 · answered by Kit Kat 6 · 0⤊ 0⤋