Have you gone over your credit card limit and been charged?
It’s reasonable for there to be a limit on your credit card. Apart from limiting the maximum amount available to you, it gives protection against the fraudulent use of a lost or stolen card.
Sometimes, banks can authorise you to go over your agreed limit. What does this authorisation depend on? It will be determined by their commercial or risk policy, on a case-by-case basis.
So, if they authorise a new limit, you should know that they can charge you a fee for providing this service. However, be aware that in order to do so, the following conditions must be met:
- The fee and the applicable terms and conditions must be clearly stated in the agreement.
- It can only be charged if the limit was exceeded in the corresponding payment period.
- The fee can be charged only once when you exceed your limit, even if you continue to be over the limit for successive payment periods.
- The fee cannot be debited once the card has been cancelled since there is no limit after cancellation.
Finally, you should not confuse going over your credit limit from time to time with increasing or decreasing the limit as from a specific point in time. These cases constitute a modification of the contractual terms which should be undertaken according to the provisions and requirements of transparency and consumer protection law.
To find out more, take a look at our 2020 Complaints Report (in Spanisch)Abre en ventana nueva