Craig

1. When you receive a new credit card you credit limit is usually listed right on the card enclosure. Maybe you missed it.

2. Most credit cards charge a fee for going over the limit but they will also refuse to authorize further charges.

3. Live and learn. We've all goofed up at some point in our lives. >-

4. Any long time Capital One customers out there?

JackOneill

I have a Capital One. I have a set limit. When I've tried going over that limit (unbeknownest by me at the time), the charge was declined. So no fee.

I guess it is possible that if pending charges go through at the same time, then you'd go over your limit.

I am also sure that ALL credit card companies have hefty over limit fees.

I am also sure that most, if not all, credit card companies could care less if you close your account.

TopMan

This is rather odd since my understanding is that to redeem FF miles you simply multiply the cost of the ticket by 80 and the resulting number is the number of FF miles it takes. Never had any trouble with the so-called "limit" so I suggest you call the FF program and ask specifically.

FainaAgain

K-9, it's an unfortunate experience! Thank you for warning us. I'm sure people who are using Cap1 for some time have different plans or promotions.

Just when I thought of getting another credit card your warning came in... and warning about AmEx... Oh, well...

k_999_9

OK, this is getting tiresome, but in the interests of educating others:

1. You're "sure" that "all" credit cards have hefty over-limit fees? Well, glory be! My Platinum Visa from Bank of America ($20K limit) has no over-limit fees. They just decline the to authorize.
2. This wasn't a case of pending charges going through. They let one charge go through, and then authorized another days later.
3. Again (groan), if you have a Cap. One card that doesn't charge such fees, great. I'm just explaining what they pulled with this particular offer.
4. "All" credit card companies "couldn't care less" if I canceled my account? You may want to check with the folks @ Bank of America Visa. When I encountered a similar situation with them, they immediately upped my limit with no fees or charges. And you know what else? If I encounter a company that "couldn't care less" about having me for a customer, I do my best to make sure they get their wish.

TedTurner

My AmEx card definitely has no fees for large charges. There's no limit of any type.
And they do 'care' if you try to cancel.

AmEx does have a variety of card types, and there are some types with limits and balance carriage allowances.

Patrick

Ted, I think you missed the point about the limit on the Am Ex cards. My client's had "NO LIMIT" either -- supposedly. You go out tommorrow and charge a $2 million plane and the next day charge a $1 million condo on your card and then come back and let us know if you still say it has NO LIMIT! OK?

jewelhawg

I've found that if I call the credit card company just before I travel...and give them the dates and destination(s), then there's not a problem. They know it's me charging outside of the state or country.

No Capital One here!

John

TOPMAN
You are correct. I just went through this for an upcoming trip to Eastern Europe and had no hassle with their ff miles.

So, what is the consensus? What is the best cc for ff miles?

Dick

I don't think that there is a "best" cc for miles.

It depends on individual spending and flying habits.

What is "best" for me, may not make sense for you.

Craig

There was a recent debate on the airline board about which card is the "best" for miles. One to take a close look at is the Amex/Starwood Preferred card. $30 annual fee waived the first year. For each dollar spent, one point is credited to your Starwood Preferred account. You can transfer points to almost any airline ff program (read the fine print though - they are not all 1 for 1 - United for example is 2 points = 1 ff mile). If you transfer 20,000 points at once, they will add a bonus 5,000 points to your ff account.

earlxx

k9999, I feel bad for you but your responsibilty is to read, ask and ask again before you buy anything and in this case you purchased a credit card from Capital One. I bet you did lots of reserch before you bought your beachside condo in Florida. The same rule applies to credit cards and any other goods. Become educated consumer. I hope you learn your lesson

antlori

k-9, thanks for the warning. None of my other credit cards charge an over limit fee so I would never have thought to check. And I don't believe for one minute that most credit card companies don't care if they lose customers. It is a cut-throat business and they want all the market share they can get. There are so many different offers out there right now, trying to grab a piece of our shopping dollars that I guess they'll stoop to anything to lure us into their web! Most times the fine print is so small you have to use a magnifying glass just to read it.

Giovanna

Thanks for the explanation. I suspected it was a matter of going over your limit and being fined for it, no doubt explained in the "fine print." Sorry you feel you were taken, but it would seem you entered into an agreement without knowing the rules. Based on that alone, I think it's unfair of you to warn people not to use Capital One. We certainly did not have a $1,000 limit when we first got our cards. Live and learn I guess.

Patty

It seems to me what the OP is trying to say is that Capital One imposed a TEMPORARY "introductory" credit limit of $1000 unbeknownst to the OP due to the fact that he/she is a new cardholder. And that his/her actual credit limit is $15,000 (see the 7th post down). I've never heard of a credit card which imposes 2 limits (one actual and one temporary) and would never even think to ask such a question nor look for this information in the fine print. Does anyone here really read the 32 pages of terms and conditions that come with your card?

As far as Amex charge card "limits", I was told by a customer service rep that it's based on your past spending and that they allow you to charge 2 times your highest previous balance in a single statement period without question. If you know that you'll exceed that amount, then you should call Amex to have the charge(s)preauthorized. I use my Amex charge card regularly as my primary card and don't recall any declines even while traveling. I never bother to tell them that I'm going out of the country. Amex credit cards on the other hand do have stated limits.

easytraveler

Well, I HAD all kinds of charge cards - Macy's, JCPenney's, Shell Oil, Union Oil, Amex, Visa, Mastercard, Discovery - just to name a few.

I also had to travel a lot - 50-80% of the time, and I'd prepay some of my cards. E.g., I'd make two payments instead of one and send in two separate checks indicating which payment was for which month, since I couldn't always count on being at home when the statement arrived. Guess what? The card companies would post the payments to the month paid, regardless of what I said. So, I would come up "delinquent" for the second month!

This situation drove me nuts. The card companies always claimed it was my fault. I had to spend a good portion of my time while at home writing letters, going to the bank, etc.

So, I came up with these solutions (which is not for everyone): -

1) I got rid of a lot of the cards. All the department store, gas, other cards were scissored and eliminated. I kept three cards: Amex, Visa (Bank of America), and Mastercard (with Cap One, although when I started it, it wasn't with Cap One. What gives with this? Do they sell card accounts from bank to bank?) I pay cash for most of my needs. Good old cash for gas, etc. Guess what? It works and few problems, if any arise!

2) When going on a trip, I PREPAY my Visa and Mastercard, anywhere from $500 to $1000 OVER what I owe them, depending on the trip. The Amex does not need to be prepaid, I am very careful not to go over a certain limit that I set myself, despite the fact that it's a "No Limit" card. When abroad, I use my ATM as much as possible, knowing that there's money in the bank to back up my withdrawals.

In other words, I eliminate the occasions when the bank can stick its sticky fingers into my pocket.

Nevertheless, guess what? Even with such precautions as using credit cards sparingly and as prepaying, a recent problem arose with the Cap One card. They were NOT sending the statements, so I was charged not just a delinquent charge, but also an "over the limit" charge. The amount going over the limit increased month by month. I kept calling and calling and still no statements came to tell me where, e.g., in one month, over $1000 had been charged, when I had not used the card that much. I wrote and wrote and nobody responded, meanwhile, the charges kept being added to the balance month after month.

This situation has been going on since January 2004. The "charges" to date have far exceeded the initial balance due in January of $249! By March my balance due was close to $1500, with no way for me to verify what charges had been made. My January payment of $249 was not posted until May! Since I don't use the card much I had never bothered to increase the limit past $1200; but, at this stage, my "balance" was over my limit!

Well, today, I finally got to talk with someone who went into their computer and found out that, indeed, the statements had NOT been sent since January!! The past due fees were eliminated but they can't send me copies of my past statements because the computer wouldn't let them generate copies- groan!

I have, meanwhile, paid off whatever balance they say I owe them, just to keep the fees from being added to my account. BUT I have no idea what the charges were which drove the account past the limit. Of course, I have also stopped using the card altogether.

Have you ever wondered how come the best and grandest buildings in your downtown were owned by banks and insurance companies? Well, wonder no more!

Morale of the story: Don't use credit cards or use them sparingly. The finance companies have found a gold mine in "fees".

TedTurner

Patrick, I don't know what your 'client's' situation was, but I do know that there is no limit on my card. A theoretical limit is based on the card holder's spending habits and known assets. While I haven't ever purchased a house on a credit card, I have a friend who purchased a $1.2 million piece of medical equipment on his AmEx card without any fees. And if you check the Centurion Card (Black Card) particulars you'll find that high dollar purchases are not just welcomed, but expected. Centurion Card holders are expected to charge a minimum of $75,000 per year or they aren't invited to receive it in the first place.
If AmEx cherged fees and limited upper end spending for their best clients they'd be shooting themselves in the foot.

Patrick

Ted, what part of spending over $50,000 on the card during the first couple of weeks it was issued and having the company decline a charge until they could talk to him do you not understand? It sounds pretty simple to me. They insisted there was no limit, but put a hold on it when he charged that much in a matter of days and they got "scared". Or are you just calling me or my clients liars? I really can't make it any clearer, and I'm sorry that the concept still seems to be over your head!

Christina

I think there are some facts probably missing from this information. What k9999 says is just wrong because I have a Capital One card and have charged over $1000 and never once paid a penny for that. I also have my original information from them, as well as the first statement, and I never had any temporary $1000 limit, even the first month. I suspect k9999 probably had bad credit or something, and that was the problem as to special limits.

I like the card fine and have never had any unusual charges. I always am given credit limits much higher than I have ever used in my life because I have good credit. They have always given me good customer service, and I like it because there are no foreign currency transaction fees and you can get cash back on all purchases (of one percent). It also has a very minimal yearly fee ($19) in comparison to most mileage cards. I only use it for cash refunds, and don't depend on credit cards for airplane tickets and don't really care about those rules very much, but I didn't think the mileage requirement was double that of other airlines, if you did care to use that (did someone say that? I'm getting confused on all these points). It's a different type of program that depends on ticket dollar caps, but I don't think they are double those of airline cards (eg, I don't think it takes 120K miles to get a RT Europe Ticket).

IN any case, since you've scared people into thinking there is a $1000 monthly limit on these cards, that is just not so.

bmillersc

This is exactly why I don't use credit cards (only a debit card with the VISA logo). Cash is king, baby!

Why deal with all these headaches? Have you folks ever noticed the banks are the ones with the tallest buildings? Do they look like they are in trouble and need your $50 fees? WAKE UP!!!