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Member
Missallison
Posts: 9
Registered: ‎06-19-2009
0

Chase Sapphire

I upgraded one of my cards to a the new Sapphire. What I don't understand is this:

 

No Pre-set Spending Limit*

With no pre-set spending limit, you have the purchasing power to get what you need, whenever you need it. Plus, if you prefer to pay off purchases over time, you may carry a balance up to your credit access line.

 

This would be my first card with "no pre-set spending limit", yet when I look at my account, since it already updated my CC as the new account, I have a limit.  My question would be then what exactly does no pre-set spending limit mean? 

 

Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008
0

Re: Chase Sapphire

"No pre-set spending limit" means that you can buy more than your access line without getting charged an overlimit fee. Some companies want you to ask before you do that, others just get nervous when you get near double your access limit. You are not allowed to revolve anything that exceeds your access line and must pay it back.
Member
Missallison
Posts: 9
Registered: ‎06-19-2009
0

Re: Chase Sapphire

Basically it is "impossible" to go over your CL? Okay, good to know. Not that I would ever get near my CL. My CL is more than a make a year, strange huh?

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