credit card limit
On a recent trip I tried out a new Nationwide credit card. At a couple of gas stations saw signs on the pumps spelling out money limits on certain card. One station stopped at $75 but would no...
Forum Discussion
beemerphile1 wrote:camperforlife wrote:
I love it when I see a station post on the pump that it is the credit card company sets the limits when this is a direct quote from Mastercard:
With pump limits, for example, "There is no policy that limits transactions at the pump from MasterCard," says MasterCard spokesman Tristan Jordan. "The merchants themselves make the decision."....
Both are somewhat correct.
The card company will leave the station harmless for one amount in a signature transaction and a much lower amount in a non-signature transaction. So for swipe at the pump, the station owner sets the limit at the lower amount, which is indeed set by the card company.
The credit card company or bank does NOT set the limits, only the merchant.
You are right the cards & banks do set the liability limits but the merchant tries to place the purchase limit on the bank or card company when they set a low purchase limit. In reality the purchase is unlimited but the merchant is unwilling to take the risk.
My problem is passing the blame, if they want to place a limit, state our limit is ......, don't blame it on the card.
