As others have already answered better than I, first avoid being obligated for such large unexpected charges. The customer in the example may have canceled their credit card, but they are still legally obligated to pay that money.
To answer the actual question of how to put limits. You can use privacy.com They allow you to create new credit card numbers that bill to your bank account but can have limits both in terms of total charges and monthly charges. You can also close any number at any time without impact on your personal finances. It is meant for safety and privacy for online shopping. You set up a card for each service. For example, create a card with you auto-bill the electric bill to. Set a limit that no more than say $200 can be charged to it each month. Any transaction that would push it over that limit will be declined, even automatic payments you have scheduled.
As others have already answered better than I, first avoid being obligated for such large unexpected charges. The customer in the example may have canceled their credit card, but they are still legally obligated to pay that money.
To answer the actual question of how to put limits. You can use privacy.com They allow you to create new credit card numbers that bill to your bank account but can have limits both in terms of total charges and monthly charges. You can also close any number at any time without impact on your personal finances. It is meant for safety and privacy for online shopping. You set up a card for each service. For example, create a card with you auto-bill the electric bill to. Set a limit that no more than say $200 can be charged to it each month. Any transaction that would push it over that limit will be declined, even automatic payments you have scheduled.
I’d never heard of that site! Thanks