Credit card limit problem for buying something on internet...?

Question

what would be the consequence of making a credit card expenditure on the internet,which is higher than the assigned crdit limit of my card,say I'm entitled to spend 40000units of money and I end up making a payment of 50000units to buy something on the internet what would happen??

Answer 1

It's either going to be declined or if they let you go over the limit you will have to pay the additional amount and the over the limit amount immediately.  Not a good idea either way.

Answer 2

Call your credit card company and explain the situation - they may raise your credit limit, if your credit payments have been on-time in the past.  That's why it's so important to pay on-time and never be late with your payment.

The credit card company likes it when you pay monthly: that's how they make their money.  As long as you make your payments on time, and you have no other negative credit reports, they will extend credit to you.

The call to them must be made as soon as you find out that the bill will be higher than expected, don't wait until you've already gone over the credit limit.  Or, be prepared to pay down the over-limit immediately to within the credit limit.  Or, tell the person you're purchasing the product from that they can't raise the charge on your credit card like that (tell them you'd like to pay them some other way; perhaps they would be willing to take payments or postpone payment for the extra 10,000?)

Answer 3

It should be declined...if it isn't you'll get a friendly fine from your credit card company....be careful...you don't want to s***w up your credit!

Answer 4

Generally you'll get a big charge for going over your credit limit.