OH DARN! I went over my Limit by almost 100%

[Fico2Go]

I get confused between the BCP and the BC card.  So  the past few days I've been using the BC to pay.  My BC cl is $2000 but I used up $3700. 

Three things came to mind:

1:  WOW!  Is AMEX that kind to allow almost 100% over the CL?

2:  Have they started liking me this much due to my other account habits?

3:  Read below..

I'm starting to get the feeling that every TL should be maxed out or over the limit at least once or twice to achieve the highest credit limit use.  And by showing that you have used the highest limit and paid down the balances, good credit  will be earned.  Am I offtrack here? 

[SnowBowl]

Wow, Awesome!! I don't mean that in a good way LOL, but if I were you I would make payments ASAP atleast enough to get it under CL 

[Fico2Go]

What is your reasoning for wanting to pay down now?

[SnowBowl]

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@Fico2Go wrote:

What is your reasoning for wanting to pay down now?

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its very simple, you dont want to stay over the limit with AMEX for long... pay it down to under your CL .. you dont want FR do you? 

[Fico2Go]

Im ok with FR. But I dont think they would simply because my other two amex cards are way under used this month compared to past months. Now if the other two were overlimit or has high util then that could trigger something.

[takeshi74]

Has nothing to do with kindness.  You'll need to pay the amount over limit plus the minimum at least.

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@Fico2Go wrote:

I'm starting to get the feeling that every TL should be maxed out or over the limit at least once or twice to achieve the highest credit limit use.  And by showing that you have used the highest limit and paid down the balances, good credit  will be earned.  Am I offtrack here? 

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It's an overgeneralization.  How have you determined that you've received a positive response by doing so?  If I did that with my TL's I'd be in serious trouble and unable to pay them.  That would not earn good credit.

[Fico2Go]

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@takeshi74 wrote:

Has nothing to do with kindness.  You'll need to pay the amount over limit plus the minimum at least.

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@Fico2Go wrote:

I'm starting to get the feeling that every TL should be maxed out or over the limit at least once or twice to achieve the highest credit limit use.  And by showing that you have used the highest limit and paid down the balances, good credit  will be earned.  Am I offtrack here? 

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It's an overgeneralization.  How have you determined that you've received a positive response by doing so?  If I did that with my TL's I'd be in serious trouble and unable to pay them.  That would not earn good credit.

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For me I am able to use up my CL today and pay down tomorrow thereby hitting the ceiling today and pay down immediately.  So to clarify would hitting the limit and paying off have any effect in how scores are determined or how CLs are determined on new accounts?

[Dw4250]

I would not advise doing this too often.  If you're PIF or paying it down significantly right away, I doubt they would CLD or cancel the card.  However, card companies as a general rule want us to stay within the assigned credit limit.s  

If it works for you great, but I do not think this is a great strategy for getting a CLI.  My $0.02....

[Fico2Go]

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@Dw4250 wrote:

I would not advise doing this too often.  If you're PIF or paying it down significantly right away, I doubt they would CLD or cancel the card.  However, card companies as a general rule want us to stay within the assigned credit limit.s  

If it works for you great, but I do not think this is a great strategy for getting a CLI.  My $0.02....

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This was not an attempt to get CLI from the existing CC issuer.  My question is whether showing multiple TLs on CRs reaching their limits and paying down have any effect on how CLs are determined on future apps. 

I WOULD AGREE THAT GOING OVER THE LIMIT REGULARLY IS A BAD THING.

[ezdoesit]

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@Fico2Go wrote:

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@Dw4250 wrote:

I would not advise doing this too often.  If you're PIF or paying it down significantly right away, I doubt they would CLD or cancel the card.  However, card companies as a general rule want us to stay within the assigned credit limit.s  

If it works for you great, but I do not think this is a great strategy for getting a CLI.  My $0.02....

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This was not an attempt to get CLI from the existing CC issuer.  My question is whether showing multiple TLs on CRs reaching their limits and paying down have any effect on how CLs are determined on future apps. 

I WOULD AGREE THAT GOING OVER THE LIMIT REGULARLY IS A BAD THING.

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I don't think going over the limit would ever be a good thing but it would be more of a temporary hit if you paid it down the following month.   I wouldn't have it report that way.  Especially if you are seeking new credit your report shows CL and highest balance.  This is all conjecture because we really don't know how closely other CCC look at your report and that is to say they SP you when you happen to of done this. 

Amex is definitely watching what you do with their cards.

It might help if you went over your CL right now and then paid it down soon after that and before the statement cuts for a future CLI with them but at that point I would probably speak with someone directly instead of relying on a computer to make that decision.

As for new credit companies seem to give out CL close to what your current limits are.