Credit Cards

Which cc charges unexpected fees like overlimit fees? Canadian tire, capital one etc thx

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  • Aug 7th, 2021 10:15 am
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Feb 23, 2004
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Which cc charges unexpected fees like overlimit fees? Canadian tire, capital one etc thx

Which cc charges unexpected fees like overlimit fees? Canadian tire, capital one etc thx
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Deal Fanatic
Jan 19, 2017
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kocoman wrote: Which cc charges unexpected fees like overlimit fees? Canadian tire, capital one etc thx
Most fees are listed. So they are not unexpected. Most CCs don’t Allow over limit usages(i.e. you will bé declined if you try to charge more t’han the remaining crèdit available on your acct.
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Jan 16, 2007
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Indeed. Now whether people actually read the disclosure document which covers the fees, that's... a different question.
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Dec 6, 2017
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Unexpected? Read the fine print...it's all there.
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May 24, 2019
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ml88888888 wrote: Most CCs don’t Allow over limit usages(i.e. you will bé declined if you try to charge more t’han the remaining crèdit available on your acct.
I think it's the opposite honestly: most cards allow you to go over your limit, and even by a lot, at least for all big banks (TD does, Scotia does and by a lot too, NBC is the one that allows the most in my experience, even 50% over limit still approves, BMO does, Rogers just by a little at least for me, Amex does and you can even check to see if a transaction over your limit will still go through with the app etc).
The only exception is if you live in Quebec, then they can't charge you a fee so no reason to allow you to go over limit.
Deal Addict
May 16, 2017
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sharinganic wrote: Define "unexpected" lol
lol - no kidding.

In this case, I'd suggest "unexpected" is associated with willful ignorance.

Actual question - will a FI charge me the fees they list in their disclosure statement and/or cardholder agreement even if I don't read those documents?
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Jan 19, 2017
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Andreit wrote: I think it's the opposite honestly: most cards allow you to go over your limit, and even by a lot, at least for all big banks (TD does, Scotia does and by a lot too, NBC is the one that allows the most in my experience, even 50% over limit still approves, BMO does, Rogers just by a little at least for me, Amex does and you can even check to see if a transaction over your limit will still go through with the app etc).
The only exception is if you live in Quebec, then they can't charge you a fee so no reason to allow you to go over limit.
If that IS true, what is the point of have a limit then? It is like you can drive over the speed limit. Actually, you can drive over the spped limit if you are not caught. Otherwise big ticket.
Last edited by ml88888888 on Aug 4th, 2021 4:11 pm, edited 2 times in total.
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Aug 1, 2008
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ml88888888 wrote: If that IS true, what is the point of have a limit then? It is like you can drive over the speed limit.
This. I expect my CC to refuse any transaction that would go over my credit limit.
I feel the need... the need for speed.
Member
May 24, 2019
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Toronto
ml88888888 wrote: If that IS true, what is the point of have a limit then? It is like you can drive over the speed limit.
The point is they can charge you a fee for it, and also you cannot carry a balance over the limit (so if your balance is 500 dollars over the limit your minimum payment is going to be 500 dollars). I tested personally with all the banks mentioned above, some charge you a fee the moment you are over the limit, other charge you a fee if you are over the limit on the day the statement is issued, but going over is totally something that they would allow you to do.
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Jan 4, 2011
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Andreit wrote: I think it's the opposite honestly: most cards allow you to go over your limit, and even by a lot, at least for all big banks (TD does, Scotia does and by a lot too, NBC is the one that allows the most in my experience, even 50% over limit still approves, BMO does, Rogers just by a little at least for me, Amex does and you can even check to see if a transaction over your limit will still go through with the app etc).
The only exception is if you live in Quebec, then they can't charge you a fee so no reason to allow you to go over limit.
Andreit wrote: The point is they can charge you a fee for it, and also you cannot carry a balance over the limit (so if your balance is 500 dollars over the limit your minimum payment is going to be 500 dollars). I tested personally with all the banks mentioned above, some charge you a fee the moment you are over the limit, other charge you a fee if you are over the limit on the day the statement is issued, but going over is totally something that they would allow you to do.
Indeed. It's clearly stated in the cardholder agreement.
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Nov 8, 2017
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I'm trying to figure out going over limit. How do you do that?
Wouldn't you know where you're at with your spend?
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Jul 30, 2018
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Andreit wrote: I think it's the opposite honestly: most cards allow you to go over your limit, and even by a lot, at least for all big banks (TD does, Scotia does and by a lot too, NBC is the one that allows the most in my experience, even 50% over limit still approves, BMO does, Rogers just by a little at least for me, Amex does and you can even check to see if a transaction over your limit will still go through with the app etc).
The only exception is if you live in Quebec, then they can't charge you a fee so no reason to allow you to go over limit.
This is funny, I think its pretty YMMV. I used to have a card with Scotiabank, puny 500$ limit, I remember them allowing me to charge almost 800$ on the card on one occurrence. Happened once and only once and never allowed to happen again, was weird. RBC, who I have been banking with for as long as I can remember, would consistently allow me to go over the limit and by a lot like you mentioned. Back in the day when I wasn't super responsible with checking spending etc. I recall being up to 4200$ on a 3000$ limit card.
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Dec 5, 2006
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cyberbruce wrote: This is funny, I think its pretty YMMV. I used to have a card with Scotiabank, puny 500$ limit, I remember them allowing me to charge almost 800$ on the card on one occurrence. Happened once and only once and never allowed to happen again, was weird. RBC, who I have been banking with for as long as I can remember, would consistently allow me to go over the limit and by a lot like you mentioned. Back in the day when I wasn't super responsible with checking spending etc. I recall being up to 4200$ on a 3000$ limit card.
Overlimit is situation based. For example, your bureau score is low, they might decline your purchase, but once scores bounce back, they could approve your purchase

500 vs 3000 indicates scotiabank and RBC thought your risk and revenue profiles differently, which is why one approved you once and another approved you consistently
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Jul 30, 2018
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smartie wrote: Overlimit is situation based. For example, your bureau score is low, they might decline your purchase, but once scores bounce back, they could approve your purchase

500 vs 3000 indicates scotiabank and RBC thought your risk and revenue profiles differently, which is why one approved you once and another approved you consistently
It would seem Scotia has always seen me as risky for whatever reason. I've never had any luck with them.
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