Credit Tips: Bank of America World Credit Card With no Pre-Set Limit

Posted On: December 22, 2006

Author: AJ
Posted: Fri Dec 22, 2006 6:51 am
Post subject: Bank Of America World Card No Pre Set Limit

This was a former MBMA Card 5.9 fixed across the board. Although it shows up as 22.5 k, they won’t tell me how much I can go over my limit, just that I won’t get an overlimit fee. I don’t plan to spend that much, the balance is 3,990 . I just wanna know. Should I attempt to buy a 2 cars or what?

Author: hdporter
Posted: Fri Dec 22, 2006 7:09 am
Post subject: Bank of America World Credit Card With no Pre-Set Limit

I’d suggest calling them any time you plan to take the card overlimit by more than $1K. Odds are that, unless you’re currently near maxed out, that you’re not talking about a spur of the moment expenditure and that you have a rough idea of the amount.

This will clear the way to ensure that an authorization speeds through and give you peace of mind that there won’t be any problem. Bear in mind that any overlimit must be paid in full once billed.

Author: QikPass
Posted: Fri Dec 22, 2006 8:41 am
Post subject:

Note that ANy Amount over your specified limit HAS to be Paid in Full on your next statement cycle. Just make sure you have the money to cover it, or at least are able to balance transfer it. Also, so car dealerships have a cap on how much of a credit card payment they will accept. From the ones i’ve dealt with here in NY its usually $5000.

Still a pretty decent way to earn some rewards points if you ask me.

Good Luck.

Author: Ira
Posted: Fri Dec 22, 2006 9:43 am
Post subject:

Quote:
car dealerships have a cap on how much of a credit card payment they will accept.

It depends on how you approach it. I bought my current car using 100% low interest balance transfer checks. As long as you stay within your credit limits this works out just fine.