Consider yourself VERY fortunate. For some, having a single revolving account reporting an OTL balance can have same the reslut as a serious derog hitting your reports. It's possible to lose well over 60 or 80 points when an OTL account reports.
I believe so....I went otl by just $50, it reported and I was hit with approx. 10 pts.
To add another question then, if the card gets a CLI, how would anyone know the card was over the limit? PS - it was crap 1(this was a friend asking me and I didn't think it would effect anything, since the cl is now higher then the line that states "highest balance" )