Help regrading credit card spend
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I’ve SBI simply click credit card which has credit limit 1,60000 and cash limit 80,000. SO this credit card used in few purchases only online this month . Now its total outstanding 84,537 and cash limit decreased to 75462. I thought cash limit is totally other quota and I’m wrong , total credit limit also include cash limit also. SO due to cash quota used in online purchase did I attract interest on my spend ????
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U wont incur any charges… Cash limit is usually a portion of credit limit from which u can withdraw cash from atm … The available cash limit varies based on the available credit limit….
U can spend entire 160000 for purchases without worrying abt cashlimit..
Thanks for your answer
Based on the nos you’ve mentioned, it looks like the entire credit limit includes the cash limit as well. I am no expert though
Yes, xperts are not sharing their views
Cash limit on simply click is 50% of total credit limit.
Which means if u want to withdraw cash max 50% u can withdraw. But if you want to spend online or do pos transcation or bills or any other spends except cash withdrawal u can use 100% and even a few 1000s more than the credit limit.
But since u have spent more than 50% of Ur limit it will automatically decrease from cash limit.which means u can withdraw remaining balance from cc through ATM any point of time.
So I’ll not charged any interest for pos transaction
no interest will be payable,
worry not
Take care brother, don’t cross 70-75% of total limit. It will hamper your credit score
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NO
p.s- Using SimplyClick for more than a year