charging over the limit with citi?

[Anonymous]

i asked the chat rep and they said that there's no fee if I choose to charge over the limit. Will the amount I charge over the limit be due immediately, before the statement due date, on the statement due date, or something else? And are there any repercussions for charging over the limit with citi? thanks for reading.

[Anonymous]

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@Anonymous wrote:

i asked the chat rep and they said that there's no fee if I choose to charge over the limit. Will the amount I charge over the limit be due immediately, before the statement due date, on the statement due date, or something else? And are there any repercussions for charging over the limit with citi? thanks for reading.

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Welcome to MyFICO

There will be no fee and the amount that you go over the limit will be due when it appears on you rnext statement. You will need to pay that amount plus at least the minimum payment due.  There won't be any repercussions as long as you pay that amount or more.

[UpperNwGuy]

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@Anonymous wrote:

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@Anonymous wrote:

i asked the chat rep and they said that there's no fee if I choose to charge over the limit. Will the amount I charge over the limit be due immediately, before the statement due date, on the statement due date, or something else? And are there any repercussions for charging over the limit with citi? thanks for reading.

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Welcome to MyFICO

There will be no fee and the amount that you go over the limit will be due when it appears on you rnext statement. You will need to pay that amount plus at least the minimum payment due.  There won't be any repercussions as long as you pay that amount or more.

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Hmm.... Are you saying that with reference only to Citi, or also to other lenders?  Back in my bad old days of abusing credit, I had transactions denied at the register because they would have caused my balance to go over the limit.

[Anonymous]

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@UpperNwGuy wrote:

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@Anonymous wrote:

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@Anonymous wrote:

i asked the chat rep and they said that there's no fee if I choose to charge over the limit. Will the amount I charge over the limit be due immediately, before the statement due date, on the statement due date, or something else? And are there any repercussions for charging over the limit with citi? thanks for reading.

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Welcome to MyFICO

There will be no fee and the amount that you go over the limit will be due when it appears on you rnext statement. You will need to pay that amount plus at least the minimum payment due.  There won't be any repercussions as long as you pay that amount or more.

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Hmm.... Are you saying that with reference only to Citi, or also to other lenders?  Back in my bad old days of abusing credit, I had transactions denied at the register because they would have caused my balance to go over the limit.

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Well I should have been clearer in my first post but it all depends on the card. I assume that if the OP had talked to a CSR it was about a card that woul allow you to go over the limit.  Visa Signature and World/World Elite MasterCards are NPSL (no pre set spending limit) so you can go over the limit. there certainly are still credit cards that will not allow you to go over the limit (and some potentially could charge a few if you agree ahead of time but these are rare).  There are many cards out there that are issued by the major banks that allow you to go over the limit so it's not a rare feature.

[Anonymous]

UpperNwGuy, likely squarebasketball has a Citi Card with a "revolving limit" option that allows spending over the limit. Note, I have one and the truth it is really a flexible spending limit and it happens to be a World Elite MasterCard. Now that said, I have a Citi Double Cash World Elite MasterCard but that Card does not have the revolving limit and Citi says I can not spend over the limit (truth I have not tried it to see if they really will let me go over). With the ever changing credit card world what I just wrote may already be out of date but that's what I found for my cards. Other credit cards may have the option like US Bank FlexPerks Travel Rewards Visa Signature has the revolving limit and it will allow spending over the limit as long after the statement cuts I pay the required minimum plus all dollar amounts over the limit (it too is a flexible spending limit). In my search, I find it is up to each lender and what cards they offer such an option if they offer such an option. Back in August of 2015 First National Bank of Omaha removed their flexible spending limit options from their cards (said it was due to security risks). So, a person needs to check out if the option is on their card(s). My guess is that once Visa and MasterCard changed their requirements some banks stopped offering the option.

[Anonymous]

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@Anonymous wrote:
UpperNwGuy, likely squarebasketball has a Citi Card with a "Revolving Limit" option that allows spending over the limit. Note, I have one and the truth it is really a flexible spending limit and it happens to be a World Elite MasterCard. Now that said, I have a Citi Double Cash World Elite MasterCard but that Card does not have the revolving limit and Citi says I can not spend over the limit (truth I have not tried it to see if they really will let me go over. With the ever changing credit card world what I just wrote may already be out of date but that's what I found for my cards. Other credit cards may have the option like US Bank FlexPerks Travel Rewards Visa Signature has the Revolving Limit and it will allow spending over the limit as long as after statement cut sI pay the required minimum plus all dollar amounts over the limit (it to is a flexible spending limit). In my search I find it is up to each lender and what cards they offer such an option.

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That's very surprising.  May have been an uninformed CSR.  Maybe I'm wrong but I was under the impression that all WEMC cards would allow you to go over the limit.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
UpperNwGuy, likely squarebasketball has a Citi Card with a "Revolving Limit" option that allows spending over the limit. Note, I have one and the truth it is really a flexible spending limit and it happens to be a World Elite MasterCard. Now that said, I have a Citi Double Cash World Elite MasterCard but that Card does not have the revolving limit and Citi says I can not spend over the limit (truth I have not tried it to see if they really will let me go over. With the ever changing credit card world what I just wrote may already be out of date but that's what I found for my cards. Other credit cards may have the option like US Bank FlexPerks Travel Rewards Visa Signature has the Revolving Limit and it will allow spending over the limit as long as after statement cut sI pay the required minimum plus all dollar amounts over the limit (it to is a flexible spending limit). In my search I find it is up to each lender and what cards they offer such an option.

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That's very surprising.  May have been an uninformed CSR.  Maybe I'm wrong but I was under the impression that all WEMC cards would allow you to go over the limit.

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Up until mid-year in 2015 Visa and MasterCard had the basic requirement that Signature Visa's and World and World Elite MasterCards would offer a revolving/flexible spending limit (there were of course exceptions). However, the card issuers wanted to offer cards with those higher tier designation without having to make sure the card holder qualified (generally $5,000 CLI). To allow for more flexibility and card issuers being able to offer higher tier cards the requirement was removed. Citi went down to $1,000 or lower Cap1 to $300 (GM Card) on some of their higher tier cards without the revolve option. For a very long time (the old days if you will) what you said was true. As you review posts on this forum and on other forums you have seen very low credit limits with higher tier card offerings such as the Citi Double Cash. I used to follow Citi and they were playing with the exception to the rule back before 2015. I received a Citi Forward Visa Signature and Citi did NOT include the revolving option (my CL was $7,400 at the time) back to 2012. Just one example. First National Bank of Omaha I believe is the first lender that blanket went in and removed the revolve option (had a FNBO Vision Visa Signature at the time) and another person on this forum had the FNBO Amex and his was removed at the same time as mine (I felt picked on until I read it here on this forum where I called FNBO and they explained with all the potential ways to lose money the bank eliminated the ability to steal some one's card ID and then run it up to the max and kick in the over limit option).

[Anonymous]

wow! Thanks so much everyone! did not expect so many responses. I'm sorry I didn't clarify in my post. It is a citi card I'm asking about that only has $3K credit line on it and it's not the world elite or anything special like that. Just a plan aadvantage card. thanks again!

[Anonymous]

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@Anonymous wrote:

wow! Thanks so much everyone! did not expect so many responses. I'm sorry I didn't clarify in my post. It is a citi card I'm asking about that only has $3K credit line on it and it's not the world elite or anything special like that. Just a plan aadvantage card. thanks again!

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Citi Bank issues so many cards that they can basically get Visa and MasterCard to give them flexibility on how they issue cards. WIth that said, you may have a card that allows over the limit spending. Simple way to check is to log in on your Citi website and look at your card, if it says "Available Revolving Credit Limit" by the credit limit you can spend over the limit and if it only says "Available Credit Limit" it is a hard credit limit.

[Meanmchine]

The price you pay for going over your limit and letting the statement cut will be a significant drop in your FICO scores. This should rebound when the next statement reflects you are under your limit.