Are companies allowed to put a limit on what you can charge on a visa?

Question

When your shopping some retailer have signs that say you MUST purchase a mim of 5.00. Is this practice allowed by VISA?

Answer 1

Absolutely. I don't know of one company that doesn't give you a limit. be careful not to go over, it's a big fine.

Answer 2

other than that,, most limit you to $75 at the gas pump,, to keep people that might steal your card form filling up everyone elses car for cash.

Answer 3

Yes, it's called a credit limit.

You can call the company and try to change it (higher or lower).

Answer 4

Yes. When you receive your visa it should be accompanied by a letter that tells you what your limit is and this is the total amount you are allowed to charge.  If you have a bank card visa the bank will allow you to only purchase so much per day regardless of the amount of money in your account.  Each bank has a different "spending limit" so you should call you institution and find out what your daily allowable is.

Answer 5

Yes, the card company itself will put a limit on your spending and so will most stores.  You can't use it for totals over a certain amount at some stores, I know for sure, just to avoid scams.

Answer 6

The bank that you get the visa from can put a limit on it.

The place where you intend to use it to pay for goods and services may also want to have limits.  They pay fees to accept the card and they also have a risk that you may eventually do a chargeback.

A car dealership will accept your card for services.  They will rarely let you use the card to, say, actually pay for the car.  People have charged their car before in a stupid attempt to get enough airline miles to go to Hawaii.  (It would be more cost effective all the way around to negotiate a lower cash price.)

On eBay, the risk of the chargeback is understandable.  The I won't accept credit cards if it goes over $200 is cheesy.  The extra profit when a bidding war happens will cover the fees.

Most places have an policy to only accept credit if you spend at least $5.  This is technically against card policy, but given the fees they pay, I have no problem with it.

Answer 7

Yes, its called a credit limit.  Your credit card company can limit how much you can charge on your credit card.  You can ask them to raise the limit (but they don't have to) or lower it.