Credit card over limit

[samratQ]

Suppose I have a limit of 200000 & I want to buy a stuff @220000. If I overpay my credit card with 20000. Than can I use that money to buy my stuff.?

 

[hitirfan]

Suppose I have a limit of 200000 & I want to buy a stuff @220000. If I overpay my credit card with 20000. Than can I use that money to buy my stuff.?

You may be penalized for that. Talk to Customer Care, some have option of using over limit... There is such option in HDFC Cards

 

[Skylar]

Suppose I have a limit of 200000 & I want to buy a stuff @220000. If I overpay my credit card with 20000. Than can I use that money to buy my stuff.?

You have to make a single payment of 220k?
If you can divide that into parts and pay
like spend 50K pay the bill for that 50k and then spend the remaining


Using overlimit will be chargeable.

 

[samratQ]

You have to make a single payment of 220k?
If you can divide that into parts and pay
like spend 50K pay the bill for that 50k and then spend the remaining


Using overlimit will be chargeable.

But after making payment in full only I can get the discount offer.

 

[samratQ]

You may be penalized for that. Talk to Customer Care, some have option of using over limit... There is such option in HDFC Cards

You may be penalized for that. Talk to Customer Care, some have option of using over limit... There is such option in HDFC CardsView attachment 1160

Yes, their is a charge for over limit. Will it effect my credit score? If I pay the whole amount just after using the cc.?

 

[hitirfan]

I guess it won't effect your score, you should talk to Customer Care regarding over limit

 

[Skylar]

But after making payment in full only I can get the discount offer.

Enabling the Overlimit option is the only choice, but keep in mind that there will be charges associated with using it. It’s advisable to compare the discount you receive with the overlimit fee. If your discount outweighs the fee, then enabling Overlimit would be the better option.

 

[amitvicky]

Enabling the Overlimit option is the only choice, but keep in mind that there will be charges associated with using it. It’s advisable to compare the discount you receive with the overlimit fee. If your discount outweighs the fee, then enabling Overlimit would be the better option.

Correct .. completely agree with Skylar...