Should the credit cards companies have a system to stop people from going over their limits?
I remember back in the good ole days that when you had a credit card for say $2,000.00 and you tried to buy something for $2,001.00 it would deny you the purchase. Now that they are practicly able to get a way with charging you them EXPENSIVE over the limit fees, that they have conviniently removed any system that would stop people from goin over, and also it sure seems strange that they know you're making a purchase the moment you use the card and even the amount but yet when you call and check you're available amount of credit, it is totaly decieving and gives you the impression that you have more available credit than you realy do.
Answers:
Yes they should. Granted it is the consumers responsibility to know that limit it would be nice if it were denied. You go over and you get slammed with fees and your rate skyrockets.
It's become very annoying.
thats how they get their fees
the banks make a reasonable decision about overlimit charges based on what their reseach tells them about their ability to collect those $30 fees.
so ya, they let fairly good risks do it.
after the 2nd month or so, they'll stop letting you do it, especially if your payment didn't come in.
***
the system that approves specific charges and the one at the bank are not the same computers. they only talk to each other [coordinate] in the middle of the night.
therefore, if you charge something today the approvals computer knows you did, but the bank's computer [the one that issues the bills and assesses the overlimit fees] won't know until tomorrow.
oh
...and ruin their opportunity to rake you over the coals? Killer instinct- go get one.
there is a way...COMMON SENSE
credit cards companies do not care when you go over the
limits because they are going to get they money down the
road.
When you go over your limit, they just up your limit! Unless you are a bad credit risk; even that won't stop them at times. The credit card companies like to have you in debt to them, more interest for them. Know your limit, keep track of what you charge & add the interest fee to your balance after using the card each time. Otherwise you will find yourself so deep in debt that you will have a heck of a time getting out & it will cost you in other ways by lowering your credit rating score. I have made a habit of not charging more than I can pay in full each month, no fee to pay. Sure it keeps me from impulse buying, but that is a good thing. There are times when you must use the card for emergencies & you can't control the cost but if you haven't run up your card you should be able to take care of it in as few months as possible.
Shouldn't the credit card holder have a system for not going over their limit? Why would someone even attempt to purchase an item that costs $2,001.00 if their limit is only $2,000. People need to accept responsibility for their own actions instead of blaming it on anyone and everyone else.
Um, I think it should be your responsibility. You need to know how much money you have. It's not their job to keep track of your accounts.
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