Hi all,

If I want to buy something that exceeds my credit limit but I am paying by 0% interest monthly installments (which the amount monthly is within limit and I will pay off monthly) for 2 years, will my card be declined?

Thanks.

yes, will decline

terminal will based on ur total available credit limit vs total sales amount

not based on monthly installment amount

if cc limit is 6k, used up 5k (available balance to use just 1k). then buy laptop priced 2k (0% installment plan rm166.70 x 12months) can? or still need to make sure the available usable balance also must have at least 2k?

This post has been edited by xswatch: Aug 10 2023, 03:53 PM

cannot.

okay. so even if it's installment plan, need to have the balance at least same amount with the device price ya

Thanks for your guide <3.

The bank told me they can extend credit limit up to 2mth, and it will be churned back after within 2mth.

I'm thinking if I can able to purchase with monthly installment within 2mths, and I still can purchase other things after extended credit limit expiry (after within 2mth)? As I might understand, that transaction will be billed monthly proportional basis, as long as I pay every monthly shouldn't be an issue ya?

This post has been edited by creations: Aug 10 2023, 03:57 PM

no. the total amount of the product will be billed until you pay it off every month

u may try to apply and increase credit limit.. assuming u have ur credit card in last 5 years with salary 3k.. maybe now 6k salary.. then ur credit limit application will be approve..

no, the whole transaction will be billed first. the monthly installment will only process by bank there monthly.

If you got total limit 10k for e.g.
you used up 5k and left 5k available limit (I think most bank app can check now)

and your purchase goods total is 6k. will decline as 10k - 5k = 5k, 5k-6k = -1k which exceed your limit and appear as negative.

unless you call bank and request to increase limit temporary, and you need to pay up some to clear up for the available limit.

And fyi, if every month you pay up promptly per statement. Your available limit will increase back

Well noted.

Let's say limit temporary expired after 2mth, credit card limit churned back to 10k, and the outstanding bill is still exceeded credit limit 10k.

What is going to be happened on my credit card ya? The previous instalment would still charge every mth as usual, but no longer able to purchase anymore?

This post has been edited by creations: Aug 10 2023, 05:06 PM

ya, you can't use it until you clear off partial/ full payment to refresh the Available limit.

btw, if you can't clear off your cc statement. I advise you don't simply purchase la unless if is necessary

Your Total Outstanding Amount CANNOT over your Credit Limit...

I obtained a temporary CL increase from PBB and one of the condition is no ZIIP/Flexipay on the temporary CL is granted.

It’s the total credit limit that matters.

TS, please continue your post here https://forum.lowyat.net/topic/4281854