There is nothing in principle to prevent this. The only problem is that each
merchant has a floor limit. Transactions below the floor limit will be
authorised locally, rather than by contacting the auth centre. If this floor
limit exceeded your transaction limit, this would not be detected. However
in practice, to minimise fraud, most merchants have a floor limit of zero.
Wait for some bank to offer this, then hide in the small print that
transactions above the agreed transaction limit will be allowed, but you
will be charged a 15 "handling fee". I recall that when you exceeded your
credit limit, they used to just increase it. Now they either decline
transactions or punish you with a charge. I guess these people have to fund
these 0% deals somehow!
At 21:19:03 on 17/04/2005, BrianW delighted uk.finance by announcing:
Although it is entirely possible (and I suspect actually being utilised for
certain customers) with Chip & PIN where the card can hold its own floor limits.