Anonymous
Anonymous asked in Business & FinancePersonal Finance · 1 decade ago

Limit to # of online payments/mo for credit cards?

Is there really a federal limit on the number of online payments you can make on your credit card in one billing month? My credit card co. says there is, but I can't find a reference to this law online.

3 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    I've never heard of one, but it wouldn't surprise me to find out that one exists. It would stop someone from paying their bill one penny at a time, which would actually end up COSTING the bank more money than they received in payment.

    If you really want to, you could always ask your credit card company to reference the law that they mentioned so that you can look it up.

    I hope this helps!

  • 5 years ago

    You may be able to. Some banks will let you request an increase online. I'd go to their website and sign in to internet banking. After that I'd see what options they have for your credit card. Keep in mind that asking for a credit limit increase will require a new credit inquiry that looks like you're asking for a new card altogether. The advice about prepaying the account is also good. If you can easily make a payment that may be a quicker way to go.

  • 1 decade ago

    There is no legal limit, at least in the US. Most of the cards I have limit on-line payments to once every 3 days. Unless you are paid daily, that limit should not be noticeable.

    Note: Blaming an 'higher authority' is a common excuse for not explaining policies the person you are talking to does not understand.

Still have questions? Get your answers by asking now.