Query about overlimit charges on Credit Card

[Rashya]

Do credit card issuing banks charge overlimit fee if the amount which has exceeded above the limit is paid immediately after the transaction.

I used Rs.302 above my credit limit and paid back immediately, will I be charged a overlimit fee? My card is Yes First preferred

Does it depend upon relationship with the bank?

 

[Rashya]

Do credit card issuing banks charge overlimit fee if the amount which has exceeded above the limit is paid immediately after the transaction.

I used Rs.302 above my credit limit and paid back immediately, will I be charged a overlimit fee? My card is Yes First preferred

Does it depend upon relationship with the bank?

@TechnoFino @Subhankar

 

[TechnoFinoTechnoFino is verified member.]

Do credit card issuing banks charge overlimit fee if the amount which has exceeded above the limit is paid immediately after the transaction.

I used Rs.302 above my credit limit and paid back immediately, will I be charged a overlimit fee? My card is Yes First preferred

Does it depend upon relationship with the bank?

Most probably, they will charge you overlimit fees according to their MITC

 

[SubhankarSubhankar is verified member.]

Do credit card issuing banks charge overlimit fee if the amount which has exceeded above the limit is paid immediately after the transaction.

I used Rs.302 above my credit limit and paid back immediately, will I be charged a overlimit fee? My card is Yes First preferred

Does it depend upon relationship with the bank?

As told by Technofino already, you may get charged. But paying the amount on the same day, may help in this matter. It's not recommended actually.

 

[Rashya]

As told by Technofino already, you may get charged. But paying the amount on the same day, may help in this matter. It's not recommended actually.

Yeah I had paid the overlimit amount as well as excess amount of Rs.5k immediately on the same day. Will I be charged overlimit fee?

 

[Rashya]

Luckily I haven’t been charged any overlimit fee, maybe because I paid the amount immediately on same day

@TechnoFino @Subhankar

 

[Dr. Drake]

Yeah I had paid the overlimit amount as well as excess amount of Rs.5k immediately on the same day. Will I be charged overlimit fee?

I had an accidentally similar situation with Citi, having 12k over my limit, paid on the same day with no additional fees.

 

[gurubhai]

Can I prepay 10K in my card of 50K limit and shop for 60K worth of item with any over limit charges?
Asking wrt Axis bank.

 

[Rashya]

Can I prepay 10K in my card of 50K limit and shop for 60K worth of item with any over limit charges?
Asking wrt Axis bank.

If your limit is 50k then you can only set the maximum usage limit upto 50k, in such case the payment wouldn’t go through. In case you have used 48k limit out of the 50k total limit and if you want to make a payment for purchase of Rs.3000, payment will be successful and you would have used above your credit limit.