To the best of my knowledge, the paypal spending limit is a certain amount that you can spend - you cannot exceed that amount unless you have purposely raised the limit - I would contact paypal for instructions on how to do that.
I don't believe that the BIN feature is tied to feedback, or anything of that nature. For some sellers, payment is required immediately, and you can only purchase the item if you have the means to pay for it at the moment you choose to BIN. For others, you can BIN but you don't have to pay it immediately - it's more like an auction payment format. I think it may be how the seller sets up the BIN feature in their formatting.
In your case, based on the message you are receiving, you probably just need to raise your spending limit with paypal.
Good luck!