Curious - credit card daily limits.

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Forums › Finance and wealth management › Curious - credit card daily limits.

rayonline

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#288292 18-Jun-2021 16:20

Just a thought. Credit card have limits per day. Is not unheard of that people cannot pay with their credit cards? A family of airfares going overseas could be over $10,000. Some of the exotic camera lenses also or even if one is overseas if they bought some jewelry?

Cheers.

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#2730749 18-Jun-2021 16:23

They are changeable, if you think yours is too low call your bank and change it...

lucky015

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#2730750 18-Jun-2021 16:23

For most banks you just need to call them and they'll lift the limit to either a number you set or remove the restriction completely for a period of time (within your credit limit). Some banks will use additional verification factors for transactions over certain values like a text with an additional auth code or even in some cases a phone call to you to confirm.

michaelmurfy

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#2730751 18-Jun-2021 16:24

Credit cards often don't have daily limits - I've spent $12,000 in one transaction on my credit card before.

Debit cards do however at normally $2000 per day.

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rayonline

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#2730753 18-Jun-2021 16:26

Some banks online say they can change it temporally to $20k. Could it go higher than that?

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#2730767 18-Jun-2021 16:31

Dude call your bank and ask them these questions!

freitasm

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#2730769 18-Jun-2021 16:35

I bought a car with a credit card. Never got hit with daily limits. But as above, ask your card issuer if there are limits and if they can be temporarily lifted.

michaelmurfy

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#2730775 18-Jun-2021 16:43

rayonline:

Some banks online say they can change it temporally to $20k. Could it go higher than that?

Are you perhaps mistaking this with the actual credit card limit? I know the bank I work for don't have daily limits on credit cards, only the actual card limit.

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Linux

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#2730779 18-Jun-2021 16:46

The daily limit in theory should be the actual credit card limit

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#2730780 18-Jun-2021 16:49

Cash withdrawals from ATM will attract pre-set daily limits. Usually you can double up on that limit by visiting the competing ATM system within a short time of your first withdrawal. Card limits as in actual credit card transactions aren't really a thing - after all,that's what the banks actually want you to do with your credit card - use it, spend up, owe them.

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rayonline

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#2730786 18-Jun-2021 16:56

michaelmurfy:

rayonline:

Some banks online say they can change it temporally to $20k. Could it go higher than that?

Are you perhaps mistaking this with the actual credit card limit? I know the bank I work for don't have daily limits on credit cards, only the actual card limit.

The Westpac is set higher at $20k but it says a limit to protect from fraud.

https://www.westpac.co.nz/about-us/legal-information-privacy/daily-transaction-limits/