Charging a card just above the credit limit question

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I called but didnít receive a definitive answer but was told if it goes through there would be no penalties or over-the-credit-limit fees. I have a Barclaycard with a revolving credit limit of $10,000.00. My question is if I charge less than a dollar over $10,000.00, will it go through ($10,000.99 for example)?†

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Since it's a small amount, prepay the card the difference to be sure there aren't issues.

Of have the merchant split the charge.

It will most likely NOT, and will trigger an account review on you. Don't do it.

YMMV by bank. It could go thru (most likely), but trigger over limit fee which you may be able to get courtesy fee reversal. Also depends on other card activity that month.

Why not just tell Barclays what you want to do/buy and ask for a credit line increase?

SinbadS said:   I called but didnít receive a definitive answer but was told if it goes through there would be no penalties or over-the-credit-limit fees. I have a Barclaycard with a revolving credit limit of $10,000.00. My question is if I charge less than a dollar over $10,000.00, will it go through ($10,000.99 for example)?†
Is this a signature card?† If so, no one, including the card company CSRs, will know the answer until you actually try - it'll either be approved or declined.† Of course, there's a decent chance it'll be declined as a suspicious transaction regardless.† You'd be better off getting your CL increased, paying a few dollars in cash to lower the charge amount, or splitting the purchase into 2 transactions.†

But if the full amount is approved, I would make a payment prior to your statement cycling, so you do not have a statement balance higher than your CL.

"No preset spending limit" is a feature of World+ MasterCards and Signature+ Visa cards. If you have that type of card, you can charge over the limit with no problems (if the card issuer chooses to authorize the transaction.)

You can only revolve your credit limit every month, so your minimum payment will be whatever the normal minimum payment is plus the entire amount above your CL.

The (temporary) effects this will have on your credit score notwithstanding, yes, you can likely do this.

JW10 said:   YMMV by bank. It could go thru (most likely), but trigger over limit fee which you may be able to get courtesy fee reversal. Also depends on other card activity that month.
††
With the CARD act, over-limit fees have basically disappeared. They're still allowed, but consumers have to explicitly opt-in to them. Most banks responded by just dropping them entirely.

JW10 said:   YMMV by bank. It could go thru (most likely), but trigger over limit fee which you may be able to get courtesy fee reversal. Also depends on other card activity that month.
††
Whoa, timewarp. That's not the case anymore.

You will get a ding on your credit report. Learned the hard way when we charged through a very large expense.

ArmchairArchitect said:   You will get a ding on your credit report. Learned the hard way when we charged through a very large expense.
††
High available credit utilization ratios do have a negative impact, but it is only temporary. The negative impact disappears as soon as a new statement with a lower utilization is reported. You can also avoid it entirely by paying the balance down before the statement closes.



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