I was charged for exceeding limit on the bank of baroda credit card. what is it about?
The outstanding on the card account must not exceed the credit limit at any time, failing which cardholder will be charged additional 2.5% over and above the sanctioned credit limit subject to minimum of Rs.600
The over limit charge on your Bank of Baroda credit card is a fee applied when you spend more than your approved credit limit. For example, if your limit is ₹50,000 and your total outstanding goes beyond that, the bank allows the transaction but adds an over limit fee. This fee is usually a fixed percentage of the over limit amount or a flat charge depending on your card type. To avoid it, you can request a limit enhancement by calling customer care at 1800 103 1006 or sending an email to [email protected]. You can also check the exact charges in the Schedule of Charges section on the BOB Financial website.