Credit Card went $1 over limit for 1 day - will that affect my credit report?

[Glen_M]

... Unless you know you're about to apply for new credit, micro managing your UTI is completely pointless and wasteful, just setup autopay to PIF on due day for all your cards and spend your time and money on more important stuff.

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Your scores can be pulled for lots of other things, and you won't always know what is coming.  Some of the occasions you most need a good score is when you're not planning for it.

[Anonymous]

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@Glen_M wrote:

... Unless you know you're about to apply for new credit, micro managing your UTI is completely pointless and wasteful, just setup autopay to PIF on due day for all your cards and spend your time and money on more important stuff.

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Your scores can be pulled for lots of other things, and you won't always know what is coming.  Some of the occasions you most need a good score is when you're not planning for it.

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I think there's a big difference between managing and "micro" managing.  Managing utilization is a good thing IMO.  As Glen stated above, you can be pulled at any time by anyone.  It's always the best look to have your utilization as low as possible.  To me, this is simply managing utilization.  Micro managing to me involves always maximizing FICO scores through things like AZEO and constantly watching the calendar to ensure you are paying at the right dates and such.  With a bunch of accounts, this can be tedious and time consuming for many.  So I agree that micro managing utilization really isn't necessary unless a major loan app is approaching, but managing utilization overall is a healthy thing to do.

[EAJuggalo]

I would be shocked if NFCU reported $1 over the limit off cycle.  

[Revelate]

This isn't an issue even if NFCU does report it off cycle.

Don't sweat it, and don't borrow trouble.  You paid, your credit life's fine.  Certainly don't call the lender... don't poke the bear, don't poke the bear, don't poke the bear.  They are not our friends.

[RobertEG]

Creditors keep record of every daily balance, as it is necessary to calculate the interest (if any), which is normally then based on the average daily balance if the account carries a balance.

Creditors thus have and retain much more detailed information on daily balances than are reported to the CRAs.

They also have their own internal algorithms for evaluating their internal determinations, such as potential credit limit decreases based on near or over the limit scenarios.

The CRAs only get the balance on day of reporting, so it wont affect your score if not reported.

However, over the limit implications can be viewed daily by creditor internal records, and that would be my primary concern.

I would presume that most creditor algorithms for review of potential credit limit decreases would require a period of over the limit of much more than one day, and it is unlikely to trigger a review, but that is entirely and internal creditor determination.

[Thomas_Thumb]

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@Anonymous wrote:
I cancelled a recurring subscription 2 months ago but the payment just came out and my credit card went $1 over the limit and I paid it off immediately. Will that report to my credit report? What type of score impact will I have?

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An isolated over limit event is nothing to worry about especially if it occurred mid cycle and the balance was paid down before statement cut. With some credit cards the highest balance may get reported in the High Balance field for that CC. However, that won't impact score and should not be viewed negatively in a manual review unless it coincides with a late payment being reported.

[Kree]

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@Anonymous wrote:
I cancelled a recurring subscription 2 months ago but the payment just came out and my credit card went $1 over the limit and I paid it off immediately. Will that report to my credit report? What type of score impact will I have?

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I once maxed out my Discover, set it up for Autopay and cut the card.  But there was an error and the autopay came out a day later than a late fee.

So where I thought I had been paying Minimum+40 bucks each month, turned into being 5 cents short each month.

A few years later I'm responsible enough to use credit again, and go checking into my discover, assuming it had been paid down a fair chunk. Low and behold, over 100% UTI for over a year straight.  Talk with them. They waive the late fees. I pay it down a bit more. Next month auto CLI to triple the limit.

Long story short, some companies really don't care about going over the limit.