Will I get charged for going over the CC limit?

Anonymous · ‎07-21-2015

I have a CC that I just basically maxed out without going over the limit but was real close. I want to know if when they calculate the interests on the debt with that put me over the limit on the card which will then trigger them to charge me a fee for going over the limit?

I know I should not do this but I have a check coming in a couple of months that will clear the debt completely so no worries there.

Thanks in advance

Anonymous · ‎07-21-2015

It depends on the terms on the card. Most of them have an over the limit fee. The will charge interest on your statement date which is usually a couple days after your due date. I would pay as much as I can by the due date.

longtimelurker · ‎07-21-2015

@Anonymous wrote:
It depends on the terms on the card. Most of them have an over the limit fee. The will charge interest on your statement date which is usually a couple days after your due date. I would pay as much as I can by the due date.

No, since the CARD act, they DON'T have over the limit fees, unless you opt in. (If you don't, charges over the CL can be denied). So you should be fine.

Anonymous · ‎07-21-2015

Interest and fees could definitely put you over the limit. Going over the limit, and maxing out a card, is never a good thing. Not only does it hurt your Fico score, you risk AA with the lender. My advice is to get your balance down to a reasonable % asap!

taxi818 · ‎07-21-2015

@longtimelurker wrote:
@Anonymous wrote:
It depends on the terms on the card. Most of them have an over the limit fee. The will charge interest on your statement date which is usually a couple days after your due date. I would pay as much as I can by the due date.
No, since the CARD act, they DON'T have over the limit fees, unless you opt in. (If you don't, charges over the CL can be denied). So you should be fine.

+1 and if it is a visa signature or Mastercard world card. Absolutely nothing to worry about. They are flexible spending cards. designed for you to go over the limit.

Anonymous · ‎07-21-2015

@longtimelurker wrote:
@Anonymous wrote:
It depends on the terms on the card. Most of them have an over the limit fee. The will charge interest on your statement date which is usually a couple days after your due date. I would pay as much as I can by the due date.
No, since the CARD act, they DON'T have over the limit fees, unless you opt in. (If you don't, charges over the CL can be denied). So you should be fine.

Sorry to give out wrong info. I think I'll stop posting from now on.

Anonymous · ‎07-21-2015

@Anonymous wrote:
@longtimelurker wrote:
@Anonymous wrote:
It depends on the terms on the card. Most of them have an over the limit fee. The will charge interest on your statement date which is usually a couple days after your due date. I would pay as much as I can by the due date.
No, since the CARD act, they DON'T have over the limit fees, unless you opt in. (If you don't, charges over the CL can be denied). So you should be fine.
Sorry to give out wrong info. I think I'll stop posting from now on.

Please don't stop posting

Anonymous · ‎07-21-2015

@Anonymous wrote:
@longtimelurker wrote:
@Anonymous wrote:
It depends on the terms on the card. Most of them have an over the limit fee. The will charge interest on your statement date which is usually a couple days after your due date. I would pay as much as I can by the due date.
No, since the CARD act, they DON'T have over the limit fees, unless you opt in. (If you don't, charges over the CL can be denied). So you should be fine.
Sorry to give out wrong info. I think I'll stop posting from now on.

There is absolutely no reason for you to stop posting. We all have once upon a time posted wrong info so there isn't any shame in doing so. The point of the forum is to learn and not everyone is aware of the provisions of the Card Act, myself included.

longtimelurker · ‎07-21-2015

One interesting question is: has anyone ever been asked if they want to opt in? I have never been offered that (and of course I would never take it!)

kdm31091 · ‎07-21-2015

Check your specific card documents but most of the time there's an over the limit fee. Definitely not a place you want to be regardless. I hope you can get it paid down soon.