Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
Awesome
4786 posts

Uber Geek
+1 received by user: 1059

Trusted
Subscriber

  Reply # 265870 21-Oct-2009 23:08
Send private message

Ah right. I have a charge card, where as I guess others who I have spoken to have the credit card version.




Twitter: ajobbins


BDFL - Memuneh
59999 posts

Uber Geek
+1 received by user: 11098

Administrator
Trusted
Geekzone
Lifetime subscriber

 
 
 
 


Try Wrike: fast, easy, and efficient project collaboration software
3280 posts

Uber Geek
+1 received by user: 208

Trusted

  Reply # 265946 22-Oct-2009 08:38
Send private message

Why not just increase the limit on your regular credit card? I have a Visa with a limit so high I will only hit it if I buy a new car or something.

2484 posts

Uber Geek
+1 received by user: 535
Inactive user


  Reply # 265987 22-Oct-2009 10:20
Send private message

bazzer: Why not just increase the limit on your regular credit card? I have a Visa with a limit so high I will only hit it if I buy a new car or something.


Not everyone will be granted such a large credit card limit, some of us with sub-million dollar salaries are somewhat limited to the credit limit the banks will allow.

3280 posts

Uber Geek
+1 received by user: 208

Trusted

  Reply # 265991 22-Oct-2009 10:36
Send private message

Yet the bank will lend you $500K+ for a house? Or give you a revolving credit mortgage facility? I don't earn $1,000,000, so maybe I just have a good realtionship with my bank? Or maybe I got "lucky", I'd say a high credit limit is a dubious "honour" ;)

220 posts

Master Geek
+1 received by user: 80


  Reply # 265992 22-Oct-2009 10:43
Send private message

the difference is a credit card is an unsecured facility so if you don't pay, all the bank is entitled to is the money you owe them. They can't sell your house to settle a credit card debt for instance.

1442 posts

Uber Geek
+1 received by user: 174


  Reply # 265998 22-Oct-2009 11:06
Send private message

Yeah, high credit card limits are awesome until you spend it all. I prefer to keep my limit low to stop me spending every last penny. My main credit card only has a $1000 limit on it.

Ive been burnt before and lesson learned!

3280 posts

Uber Geek
+1 received by user: 208

Trusted

  Reply # 266028 22-Oct-2009 12:03
Send private message

The lesson you learned was "Dont get a high limit on my credit card"? I thought it might've been "Learn some self control"!

1751 posts

Uber Geek
+1 received by user: 301

Subscriber

  Reply # 266032 22-Oct-2009 12:08
Send private message

Pre-auths and completions on credit cards are a fairly simple affair.

A Pre-authorisation is taken for the value of goods or services (i.e. when checking into a hotel) and at the time of checkout or payment, the authorisation is completed. THis charges the card for the amount due and clears the pre-auth immediately.

The instances where this doesn't happen:
Offline - if the terminal can't connect to the network for whatever reason, there'll be a simple purchase transaction made and the completion does not occur.
Overseas - sometimes in an overseas environment, the pre-auth will not drop off immediately and can take any number of days to drop off - usually a week.
Card not present transaction - in many cases a CNP transaction will not immediately release the fuds, more due to processing error (human error0 than systematic failure
Alternate payment method - if you pay via EFTPOS or alternative means (i.e. cash, other card etc) the transaction cannot be "completed". Therefore you wait for the auth to drop off - either that or kick up a stink and get the merchant to fax a note to the issuing bank or their cards processor to jhave the auth removed.

I work in the industry so have a little knowledge.




Handsome Dan Has Spoken.

1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Amazon launches the International Shopping Experience in the Amazon Shopping App
Posted 19-Apr-2018 08:38


Spark New Zealand and TVNZ to bring coverage of Rugby World Cup 2019
Posted 16-Apr-2018 06:55


How Google can seize Microsoft Office crown
Posted 14-Apr-2018 11:08


How back office transformation drives IRD efficiency
Posted 12-Apr-2018 21:15


iPod laws in a smartphone world: will we ever get copyright right?
Posted 12-Apr-2018 21:13


Lightbox service using big data and analytics to learn more about customers
Posted 9-Apr-2018 12:11


111 mobile caller location extended to iOS
Posted 6-Apr-2018 13:50


Huawei announces the HUAWEI P20 series
Posted 29-Mar-2018 11:41


Symantec Internet Security Threat Report shows increased endpoint technology risks
Posted 26-Mar-2018 18:29


Spark switches on long-range IoT network across New Zealand
Posted 26-Mar-2018 18:22


Stuff Pix enters streaming video market
Posted 21-Mar-2018 09:18


Windows no longer Microsoft’s main focus
Posted 13-Mar-2018 07:47


Why phone makers are obsessed with cameras
Posted 11-Mar-2018 12:25


New Zealand Adopts International Open Data Charter
Posted 3-Mar-2018 12:48


Shipments tumble as NZ phone upgrades slow
Posted 2-Mar-2018 11:48



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.