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credit card limit

  • 09-03-2010 2:14pm
    #1
    Jax Teller
    Closed Accounts Posts: 8,763 ✭✭✭


    ive got credit card but its limit is 500 euro , and i need to have a bigger one its not possible to get limit upped , say for example i pay 500 on to the credit card would this mean i can spend up to 1000 ?


Comments

  • #2
    nimbinsurfer
    Registered Users, Registered Users 2 Posts: 82 ✭✭nimbinsurfer


    Ya if you put in €500 into your credit card then you're balance will be €1,000


  • #3
    cynder
    Registered Users, Registered Users 2 Posts: 4,128 ✭✭✭cynder


    yep.

    also the longer you have the card the credit will increase. after 3 years you could have a max of 2000 credit.


  • #4
    Formal shorts
    Registered Users, Registered Users 2 Posts: 197 ✭✭Formal shorts


    Only two problems Keyser. You wont be covered for any credit balance you have on your card (for example if your card got stolen and you had a credit balance of €500, you would not be able to claim it back if the card was used fraudulently). Also, depending on your credit card provider, you may not be able to process a single transaction for more than your limit.

    This means if you wanted to say book flights for 1000, you would still only be able to make a transaction for maximum 500 and then a second transaction for 500. If you call the customer service number on your statement/back of card they will be able to tell you if this is the case.


  • #5
    Jax Teller
    Closed Accounts Posts: 8,763 ✭✭✭Jax Teller


    cool thanks for replies , it would be only a once off like


  • #6
    MonkeyTennis
    Registered Users, Registered Users 2 Posts: 3,098 ✭✭✭MonkeyTennis


    ^^^ famous last words;)

    I got the bank to reduce my credit limit from 5000 to 500. Best move EVER


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  • #7
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    grindelwald wrote: »
    yep.

    also the longer you have the card the credit will increase. after 3 years you could have a max of 2000 credit.

    They're not allowed to automatically increase your limit now. You have to apply for it yourself. I think this is part of the CPC Regulations, not 100% sure.


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