Does anyone else have this problem with VISA?

[madawgz]

its not really a big problem but its making me go over what limits were set

i started with a 500$ limit on my visa...

and the first time it let me go over to 525$

then the second time it was around 540$ ... and everytime i paid my visa the limits go up just a little bit

is this normal?

now its letting me do 600$....

[seeric]

it will let you do amounts over but you'd better read your TOS. if you go over they move you to the higher APR and shit.

on some.

[madawgz]

alright thanks

[KrisKross]

You're given a buffer... a certain amount you can go over your limit by. It's a percentage and it'll go up and down based on your credit rating, your limit and your behavious score with the bank.

Watch out though, because some banks charge overlimit fees on a monthly basis.

[madawgz]

interresting, well i have never missed my payment to visa, and i reload my visa like 4 times a month lol

[Tom_PM]

Yep, and they might ding your credit report too with a "potentially negative item" of "over limit".

I went over once because they mailed my damn bill to the wrong address and before i got the next months statement, there was a late fee, an over limit credit hit and a rise in APR. I hate all CC's. I had to call and bitch at someone at the India based call center which is always a lot of fun! lol

So I paid it in full 2 days after it arrived, and next month got another one saying I had a balance due of $1.48. I swear, anyone who calls selling adult site access on the internet a 'racket' is just not up to speed on rackets!

[Peaches]

They usually "let" you go over the limit and then charge you an overlimit fee.

[KrisKross]

Yep, and they might ding your credit report too with a "potentially negative item" of "over limit".

I went over once because they mailed my damn bill to the wrong address and before i got the next months statement, there was a late fee, an over limit credit hit and a rise in APR. I hate all CC's. I had to call and bitch at someone at the India based call center which is always a lot of fun! lol

So I paid it in full 2 days after it arrived, and next month got another one saying I had a balance due of $1.48. I swear, anyone who calls selling adult site access on the internet a 'racket' is just not up to speed on rackets!

Residual interest. It's the interest on your balance from the date of your last statement until the date you made your payment. Since they can't predict when you're going to pay, the remaining interest has to carry over to the next statement.