Quote:
Originally Posted by disneysteve
Personally, I think the banks and credit card companies should not allow you to charge more than your balance/limit. Just deny the charge if it would overdraw your account or put you over your limit.
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DS
I agree with you on this--banks should not be allowed to extend you credit without your approval. Nor, should they be allowed to re-order the debits that come in from high to low in order to maximize overdraft fees.
We have already touched on some instances where a person might have funds in their account that would have covered a debit and they get charged an overdraft fee because of a high pre-authorization amount might be freezing the funds such as a hotel that puts a 1,500 hold on for 10 days or for a while the gas stations were doing $50 and $80 (that was back when gas was over $4.00 a gal). I don't know if the bank would return the fees in such an instance...