Credit Card Payment for PR-FSW App

[arsenal]

Has anyone else used this method to pay or known anyone else who has? It was only introduced by CIC last month, but I decided to use it since obtaining foreign certified bank drafts in the US is like trying to squeeze blood out of a rock.

I've been really paranoid about my bank will reject the charge due a) to its size and b) the fact that it's a foreign transaction.

I'm assuming this is a common problem for CIO - I wonder what their policy is on notifying card holders, re-trying cards, or accepting alternate payment methods if the card is declined without having to re-submit the application in its entirety? Alas, CIO has no contact details other than the Sydney physical address so I've just been calling my card company every day to notify them of a large international charge coming through.

I guess I just need to learn patience...

[Auld Yin]

Originally Posted by arsenal

Has anyone else used this method to pay or known anyone else who has? It was only introduced by CIC last month, but I decided to use it since obtaining foreign certified bank drafts in the US is like trying to squeeze blood out of a rock.

I've been really paranoid about my bank will reject the charge due a) to its size and b) the fact that it's a foreign transaction.

I'm assuming this is a common problem for CIO - I wonder what their policy is on notifying card holders, re-trying cards, or accepting alternate payment methods if the card is declined without having to re-submit the application in its entirety? Alas, CIO has no contact details other than the Sydney physical address so I've just been calling my card company every day to notify them of a large international charge coming through.

I guess I just need to learn patience...

There's only one valid reason for your credit card company to refuse the transaction and that is if there is an insufficient allowance on your card. Calling your card company is a good idea if only to allay your fears. I'm sure the CIC would not introduce the programme should it consider it a risky venture.

[arsenal]

Originally Posted by Auld Yin

There's only one valid reason for your credit card company to refuse the transaction and that is if there is an insufficient allowance on your card. Calling your card company is a good idea if only to allay your fears. I'm sure the CIC would not introduce the programme should it consider it a risky venture.

This is an oversimplification. Just about all banks have complex software analyzing transactions these days to find 'unusual activity' to identify and mitigate fraud. It's happened to me many times over the years in my travels. I get 'early warning' fraud holds placed on CC accounts all the time and have to call the bank to get the card working again. It's an automated thing. It has nothing to do with available credit.