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
2oldman wrote:BurbMan wrote:
the retailer is free to set the limits wherever they like, it's their store.PFJ RV Plus wrote:This happens every time this subject comes up.
Credit Card limits are set by the credit card companies, and or banks.
It must be both: CC companies have a reimbursement limit to the stations (but don't impose the pump limit), so the stations protect themselves by using the pump limit. Burbman probably said that already.
Is that an agreeable and sensible answer?
If the card ends up stolen or the charge is disputed the business gets charged back by the merchant bank. I.E. they don't get paid. So the business has a transaction limit they wish to risk. If your charge back percentage gets too high they will increase your fees.
