CSP 2X Credit Limit charging ability

[ryanbush]

I've read multiple places that becase the CSP is a Visa Siggy you can charge 2x the credit limit as long as it is PIF the balance above the credit line, is this still correct?

Has anyone here actually used this feature?

I understand it would kill the utilization and I won't plan on going above the credit line just wanted to verify

[Creditaddict]

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@ryanbush wrote:

I've read multiple places that becase the CSP is a Visa Siggy you can charge 2x the credit limit as long as it is PIF the balance above the credit line, is this still correct?

Has anyone here actually used this feature?

I understand it would kill the utilization and I won't plan on going above the credit line just wanted to verify

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I'm not sure about a full 2x, it's a little like Amex but not even close at the same time!  They have an internal guideline of what you can charge over current limit (not sure if you can call and ask) but yes you would have to pay the full amount over the credit line plus the normal payment.

My experience has only been with Nordstrom Signature and a Chase Southwest and both of these experiences dated around the 2006 nordstrom and 2008 chase.

I was able to go over credit line by about $1k and then my payment was the $1k plus the $300ish normal payment and I paid just over the minimum... fast forward a couple months and I was not able to charge ANYTHING above CL.  They don't want to see you take a high limit card and go above that and then only show the ability to pay a little bit on the debt before going over... now reverse that and someone PIF or paying like 50% on the balance within CL plus the overage and you might find a little higher charging ability over current CL.... I have never really liked the idea of Signature... If I'm qualified to charge $15k but my limit is $10k... Why don't you just make my limit $15k!!!!

[jsucool76]

The 2x credit limit is by no means guaranteed. The only cards chase guarantees aover limit spending for a certain amount is on the JPM select and palladium which are 2x and 3x your limit respectively.

[navigatethis12]

I have a World Mastercard with Chase, which is supposed to have the same ability, and it would not let me charge even $1 over the limit.

[ryanbush]

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@jsucool76 wrote:
The 2x credit limit is by no means guaranteed. The only cards chase guarantees aover limit spending for a certain amount is on the JPM select and palladium which are 2x and 3x your limit respectively.

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ok thanks, for some reason I had in my head that the CSP also have the 2x limit

Like I mentioned before I don't plan on going over the limit, just wanted to know what my spending power was!

[Cdnewmanpac]

I had a chase sw visa signature with 5 k limit and an $8700 tuition bill. called ahead, they authorized, went through no problem. just fyi.

[CreditScholar]

When in doubt it's usually best to call in ahead of time. I put a 30k charge through last month and paid it within 24 hours with no issues. I just called ahead to make sure it would go through. If I didn't call, I'm skeptical as to whether or not it would have been approved.

[ryanbush]

Wow, that's a huge charge....  thanks for the advise on calling, I just didn't know if there was a standard policy like on the palladium or select card

[Jake0215]

I was just approved for a u.s. bank travel rewards visa sig. When I logged onto my account for the first time the available credit field had a "-" in it. I didn't know what this was since all of my other signature/world cards had the flex limit but still show credit limit on the account page. I received an email back basically saying that my credit limit was 12k but I was allowed to charge an additional 12k over that but it would be due when statement cut. So in my case the 2x credit limit was quite literal.

[CreditScholar]

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@ryanbush wrote:

Wow, that's a huge charge....  thanks for the advise on calling, I just didn't know if there was a standard policy like on the palladium or select card

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That's insurance for you. It seems to vary from lender to lender with regards to Visa Signature products, but the safe bet is always to call in. The JPM cards are in their own category with clearly published rules about it, but I think they're the only ones that I've seen like that.