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I never had this problem since I had a high credit line, even though there was one time I came very close due to an international flight. But what if I had had a tiny credit line and needed to make a big purchase on the card? Since your deposit is the collateral for the credit card, technically you can't charge more than the amount of the deposit, correct?
I wonder how banks deal with this. Any personal experiences or thougjts?
My vote would be no. I don't think it would go through.
@HiLine wrote:I never had this problem since I had a high credit line, even though there was one time I came very close due to an international flight. But what if I had had a tiny credit line and needed to make a big purchase on the card? Since your deposit is the collateral for the credit card, technically you can't charge more than the amount of the deposit, correct?
I wonder how banks deal with this. Any personal experiences or thougjts?
I went over once, long ago. And then I no longer had a secured credit card.