Credit Card With No Pre-Set Limit

Guest: AJ
Credit Expert (100+ Posts)
Post subject: Credit Card With No Pre-Set Limit
Posted: Fri Jan 19, 2007 10:28 am

This card was carried over from MBNA. What on earth is a "no pre set Limit"? I have a B OF A World Card with a 5.9 fixed rate on purchases and bt ( as long as pay on time) that has a no preset spending limit, but it shows up as a 27K on my statements. Does all this mean that I won't be charged an over limit fee? That's what they tell me, but They won't tell me how far above the 27K I can go, I have never went above 9k , I always receive payment holidays , but I pay anyway, the balance is at 3,9 something. I guess to make a long story short, What is this card all about.

---

CardRatings.com is the most comprehensive source for comparing credit card offers.  Please visit CardRatings.com to view the best rated credit cards!

---

Guest: NightStar
Board Monitor/ Administrator
Posted: Fri Jan 19, 2007 10:37 am

No preset spending limit just means that they delay adding a credit limit until they guage your spending. If you see 27k then I would think that would be the credit limit. But you should call in customer service to make sure. I would not recommend spending over that limit until you find out if it is locked in already.
_________________
Best Regards,
Pammila Phillis
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews


Sign up for our free monthly e-mail newsletter!

---

CardRatings.com is the most comprehensive source for comparing credit card offers.  Please visit CardRatings.com to view the best rated credit cards!

---