imcu cc

[juggalo9er]

just recieved my indiana members cu cc which and the paperwork it came with says the standard congrats and all that but it says i can exceed my cl but the total ammount due over my credit line will be due along with the minimum payment with the next statement....never seen or heard of  this before and am confused! i always thought if you exceeded limit the cards transactions would be denied can someone explain this?

[gdale6]

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@juggalo9er wrote:

just recieved my indiana members cu cc which and the paperwork it came with says the standard congrats and all that but it says i can exceed my cl but the total ammount due over my credit line will be due along with the minimum payment with the next statement....never seen or heard of  this before and am confused! i always thought if you exceeded limit the cards transactions would be denied can someone explain this?

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Sounds like its a visa siggy or world mc which is a flexible spending card, you can exceed the soft limit but the amount that you do is due the next month in addition to the minimum payment that is calculated.

[wHiTeSoL]

Sounds like how signature visa or world master cards work. You have a set CL, they have the option (might not always get approved) to allow you to go over that, but the portion over your CL will need to be paid in full this month. 

Example

5K CL

Purchase - 6k Tickets

Payment - 1k due at the end of the cycle, other 5k you can revolve with interest if you'd like. (besides the minimum payment due for the 5k)

[juggalo9er]

ty both and it shocks me how much love this cu gave me....i would never exceed the limit or even use close to 20% of it lol