Will i be able to make complete a transaction that exceeds my Credit Card limit?

Question

i got a credit card with a limit of $500. its new so i havent used it yet. i can pay off the bills and wat not but i wanna know if i pay a ps3, an extra controller and rainbow six vegas, will i be able to buy all that or will the company let me pay only up to $500. all that comes to $652.66. can i pay all that on the card, or will they only let me pay $500 with the card and then i gotta pay $152.66 in cash?

Answer 1

When you make the purchase, tell the cashier that you want to use your credit card for the first $500, and then you'll pay cash for the rest. I was a cashier in a department store for a long, long time - a lot of people pay this way, especially around the holidays.

Most likely, your card will be denied if you try to use it for the entire amount. Sometimes you might get away with going just a bit over your credit limit, but that's not something you want to make a habit of. If you exceed your credit limit, your credit card company will automatically add an overlimit fee to your account. This will be anywhere between $35 and $50. You will be charged the fee every month that your balance exceeds the limit.

Answer 2

Charging the full purchase amount on the credit card, if accepted, will cause you go over your limit which will hike your interest rate and cause you to have an overlimit fee charged to your account until the balance is brought down to $500 or less. Being over the limit also affects your credit rating negatively...the score goes down. Keep in mind that some credit card companies will report over-the-limit conditions to the credit bureaus which will have a negative impact on making major purchases in the future because you'll be hit with a higher interest rate.
My suggestion...Save up the cash for the Playstation and save the $500 credit card for emergencies.

Answer 3

Consider what you are doing to yourself and how out of control you already are and have not even made the purchase yet.

Unless you can completely pay a TOY off when you get the bill do not make the purchase or the next few questions we see from you will concern your lousy credit rating and not being able to get money for more TOYS.

Get a job at a fast food place and save all the money then go buy what you want.

Answer 4

No. The bank will generally let you only go to the $500 limit. Sometimes some banks may allow $10 or so over, but not $150. It should be rejected as "insufficient funds" if you try to put the full amount on. If by some rare occurence, it does allow it - keep in mind the bank will be phoning you within 48 hours requesting the overlimit amount be paid back immediately.

Answer 5

I know that paypal has a limit on the amount of money you can transfer to a bank account each month. I was able to suspend this limit for my account but I do not remember how I did it. I probably had to confirm a bank account. Paypal may also have a similar limit for transactions.

Answer 6

you know i have a card and the limit was 500$ and somehow i managed to go over the freakin limit!!!!! i think i bought something online that didnt post right away oopsies

Answer 7

Such an arrangement will have to be negotiated between you and the people you owe money to. The rule of thumb is , you can NEVER exceed your credit limit. It will be denied instantly.

Answer 8

$152.66 cash.

If you exceed your limit, even if they accept the charge, they will charge you a penalty and can increase your interest rate.
Re-Read the fine print.

Answer 9

In most cases no, but many companies may let it through so that they can charge you fees.