Overlimit fee

Dan133269

Hello all,

Just checked my online banking and my credit card has been charged 8 euro for an "overlimit fee" with 2 euro interest on top of that. This is within the last week. I had paid my credit card fee in total a few weeks ago. It is possible I went over my credit card limit but I can't understand how this is possible, surely if I have reached my limit the card should not allow me to perform more transactions? Is it my responsibility or the banks?

And as for the interest, is it possible to be charged interest 2 weeks after you have paid the credit card in full?

Any replies appreciated.

cookie1977

the card will allow you to go over your limit and this is what I imagine happened. The interest may have been accrued on the over charge, you'd need to call the bank and see. Sometimes if you explain it to them they'll let you off and refund you. It's happened to me before.

Dan133269

Thanks for reply. So how much over the limit do credit cards usually allow? If my bank account says x amount available, but I actually have x plus y, why doesn't it say that? Just seems strange to me.

cookie1977

I'm not sure but it's usually in the T&C's of a card that there are charges for going over the limit. for example aib click visa T&C's state:

http://www.aib.ie/personal/credit-cards/CLICK-Credit-Card-Terms-and-Conditions
Credit Limit

4. You must:

sign your Card as soon as you receive it using a ball point pen;
keep your PIN secret and keep your Card secure;
only use your Card (a) within the Credit Limit,

6. We will set a Credit Limit on the Account. We may, subject to applicable law or regulation, vary the Credit Limit from time to time. We will notify you of any such variation. If your Card is used for a transaction which would bring the outstanding debit balance ("Outstanding Balance") in excess of the Credit Limit, we reserve the right to authorise or decline such transactions. If we authorise a Transaction in excess of the Credit Limit currently applying to the Account, this will not affect the Credit Limit and subsequent transactions bringing the Outstanding Balance in excess of the Credit Limit or where the Credit Limit has been exceeded may be declined.

51. Separate charges may be incurred and debited to the Account and will be advised to you from time to time. These can be in respect of late payments, returned payments, copy Statements or copy vouchers or operating in excess of your Credit Limit.

Each card is different. Contact them be polite, explain it was a complete accident and you've never done it before. They may refund.

Dan133269

Thanks for reply cookie, much appreciated. Will comb through the terms and conditions if I can find them.

Dan133269

I contacted them and they agreed to waive the fee for me seeing as it was my first time. Thanks for advice Cookie

cookie1977

No problem. You're usually allowed one error