Reply
Regular Contributor
unusuallyconfused
Posts: 232
Registered: ‎03-05-2013

Credit Line over the limit reported

[ Edited ]
 
USAA Rewards VISA (7,500 - 03/2013) / DiscoverIT (6500 - 03/2013) / Cap One Platinum MC (2750 - 03/2013) / Credit One Platinum VISA (750 - 03/2013) / First Premier Bank MC (300 - 02/2013) / FingerHut/WEBBANK (5200.00 - 02/2013) / Victoria's Secret/Comenity (1500 - 03/2013) / PayPal Smart Connect/GECRB (2900 - 03/2013) / Lowe's/GECRB (2800 - 03/2013) / Amazon.com/GECRB (4500 - 03/2013) / Chevron Texaco/GECRB (1950 - 03/2013) / J.C. Penney/GECRB (2150 - 02/2013) / Target (750 - 07/2013) / Abercrombie & Fitch/Comenity (1850 - 07/2013) / CareCredit/GECRB (4500 - 08/2013) / DCU Visa (2000 - 11/2013) / NFCU Sig cashRewards Visa (7000 - 11/2013) - MilitaryStar/Chase (4700 /12/2013)

Senior Contributor
john398
Posts: 3,513
Registered: ‎01-19-2009

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

Regular Contributor
randeman
Posts: 222
Registered: ‎12-13-2012

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.

Experian Score: 665--Citibank 16 June 2014; Equifax Score 698--MyFICO--26 July 2014; TransUnion Score 715-Discover 26 July 2014
PUH-RAISE JESUS, I finally broke 700!!!

Cards and Credit Lines: Escape by Discover, Chase Freedom Signature Visa, Chase United MileagePlus Explorer Signature Visa, Chase Sapphire Preferred Signature Visa, Barclay's Holland America Visa, Citibank Custom Credit Line, Paypal Custom Connect Credit Line, Bloomingdale's, Macy's Premier Elite, Amazon Store Card, Lord & Taylor, Nordstrom, and Gold Delta SkyMiles from American Express.
Closed: Dell Financial Services credit line. SOBs cut my credit limit, so I cut the cord. S****w 'em!

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+