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Registered: ‎03-05-2013
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Credit Line over the limit reported

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Senior Contributor
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Registered: ‎01-19-2009
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Re: Credit Line over the limit reported

since FICo keeps no history on calculations as long as you pay it down before applying for something else you should be ok

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Posts: 272
Registered: ‎12-13-2012
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Re: Credit Line over the limit reported


unusuallyconfused wrote:

Was reading this thread here about a guy who went over his credit card's limit:

 

http://ficoforums.myfico.com/t5/Credit-Cards/Went-over-CC-LIMIT-Bad/td-p/2351417

 

QUESTION: Let's say you do go over your credit card limit and IT IS REPORTED to the credit bureaus how "negative" is that???

 

If a person has never been late paying that card, goes over the limit and it gets reported to the credit bureaus, BUT still makes the payment on time after that (payment to cover the over limit plus the regular card payment) how is that reported on the credit files? Is is a major derogatory? Will that effect your FICO score in other areas BESIDES utilization??

 

Would really love to know the answer to how your credit file gets affected with a reported overlimit on credit card....


Well, I do know that going over your limit isn't a good thing on a conventional card, assuming you are not referring to a signature card which has some overlimit guideline.  I don't imagine it's a major derogatory, like a charge off, or worse, a bankruptcy.  If it doesn't affect your score, in my opinion, as long as it doesn't span your CR from account to account, I could see it being overlooked.  Come to think of it, I have an entry that I went overlimit to the tune of well over $1000 on a card (which never happened by the way) one time and I have never seen it as a denial reason on any letter to me, nor have I had anyone ask about it during recon.

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