One of the most annoying things about credit limits is that most card issuers treat them as “soft” limits. They’ll actually let you exceed the limit, and then levy a penalty fee for the privilege of doing so. The good news is that Chase (and possibly others) offer an out.
According to an article that I just ran across, all you have to do is call them up and ask for an “over-the-limit block.” This block will work for all Chase cards except their Signature cards, which have no preset spending limit, and thus aren’t subject to these sorts of fees.
Something to watch out for is that these blocks don’t work on all purchases. For example, if a gas pump initially authorizes your card for a certain dollar amount and then you wind up purchasing more, you might end up exceeding your limit.
Check it out. While you might appreciate the courtesy of being allowed to exceed your limit, it comes at a price. If you want to protect yourself against these sorts of fees, all you need to do is call the number on the back of your card and ask.
If you’re aware any other issuers that do the same, please let me know.