The BNZ will allow customers to draw over the limit on their credit card to allow for transactions to go through, up to a certain extent. This is to allow for transactions if customers are stuck overseas with limited funds, or have a direct debit from their credit card for power, phone etc.
As long as your account is not overdrawn at the close of your statement, you will not be charged over limit fees. Late payment fees are only charged if you pay your due balance late, and interest is only charged on the balance outstanding if not paid in full by the due date, and will not be higher for over limit amounts.
If you do not want the facility of this ‘shadow’ limit, please contact us directly and we can place a block on your account to not allow this. Once the block is placed on the account, it cannot be removed.
Do you use the BNZ mobile app? This is a great and easy way to keep up to date with the balance available on your accounts while out and about, so you can make an informed decision before making purchases.
I have also feedback about the possibility for having alerts for the credit cards as well. I know we do offer this service for transactional accounts, but would be a great facility for credit cards too, and to help our customers be better informed about their accounts.
I hope this helps you understand the process a bit better.