Over limit fee

[jingles]

Just wondering if anyone knows how citibank work their over limit fee?

I know that american express will only charge you a fee if your balance exceeds your credit limit when the statement is issued.

Is citibank the same or do they work differently?

 

[Fantic125]

I'm a Citibank user, and got 116 results when you search their .au website. Maybe one of those may help. Of course, you could always ask Citibank?

 

[JohnK]

I believe it is if your balance is over the credit limit at least by a certain amount at the end of the billing cycle.

You also need to be careful with missed payments fees when going overseas. I was charged $35 once for missing a payment but it was not my fault as they altered the end of the billing cycle the previous month (once off) and it meant that I had 2 payments in the one month and none in the next. A call to CItibank soon fixed the issue.

 

[StevePER]

Coincidentally I have the terms and conditions in front of me...

Overlimit Amount The amount by which your Account balance exceeds your Credit Limit, Overlimit Amounts are shown on your statement and are payable from the date you exceeded the Credit Limit.

 

[one9]

Just wondering if anyone knows how citibank work their over limit fee?

I know that american express will only charge you a fee if your balance exceeds your credit limit when the statement is issued.

Is citibank the same or do they work differently?

Hi, yes Citibank work in the same way. I used to regularly exceed my citibank credit limit for short periods sometimes and never got charged an overlimit fee. it would allow transactions over the credit limit by around $5k. after about $5k, future transactions would be declined. later on they increased my credit limit, and now I don't exceed the limit. Online banking is set to automatically not allow you access to the rewards pages as soon you exceed your limit, but access automatically comes back again once you are under your limit.

 

[auriga]

Hi, yes Citibank work in the same way. I used to regularly exceed my citibank credit limit for short periods sometimes and never got charged an overlimit fee. it would allow transactions over the credit limit by around $5k. after about $5k, future transactions would be declined. later on they increased my credit limit, and now I don't exceed the limit. Online banking is set to automatically not allow you access to the rewards pages as soon you exceed your limit, but access automatically comes back again once you are under your limit.

They let you get over the limit by $5K??? Seems awfully generous to me.

 

[jingles]

Coincidentally I have the terms and conditions in front of me...

Yea i had a read of them however thats what my American express TaC's say however in practice i am only charged for exceeding the limit if i am over once the statement is issued. (Not that i will ever let it happen!)

It seems citibank might be the same, thanks for the replies!