Method and apparatus for a no pre-set spending limit transaction card

The present invention provides a method and apparatus for a no pre-set spending limit transaction card with features and attributes of both a credit card and a charge card. The novel method and apparatus uses a card with an overlimit spend feature and an associated communicated line of credit. The card can carry a balance like a credit card and may require that the card user pay down the balance carried forward down to the line of credit subsequent to the end of each billing cycle. When the user has reached or exceeded the communicated line of credit, each subsequent transaction request for a new transaction by the user is evaluated on a case-by-case basis by a process that includes execution an overlimit spend authorization logic or process