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Over Limit on CCs

Frequent Contributor

Over Limit on CCs

If you go over your limit, say even by 2 or 3 dollars, will this haunt you?

I have not done this, just a curious question.
11 REPLIES
Valued Contributor

Re: Over Limit on CCs

I don't think it will haunt like a late payment,  You'll just get penelized by the ccc with an over the limit fee, but if you pay back everything within the billing cycle you should be ok.
Established Contributor

Re: Over Limit on CCs

Will be reflected on your CRAs in the highest balance field, but once uti is back within reason I don't believe your in trouble with the FICO model... Platinum CCs may increase APR as a result of Uni-default, so watch out.
 
Rob
Established Contributor

Re: Over Limit on CCs



jaguls66 wrote:
If you go over your limit, say even by 2 or 3 dollars, will this haunt you?

I have not done this, just a curious question.

Actually it depends.  Besides the over the limit fee, the CCC will report the high balance on your credit reports.  Trust me.....I knowSmiley Sad
So I have a couple sitting there on my credit report looking less than appetizing.  CL $5500 High Balance $5986.....YUCK!  I'm not sure how lenders view it though.  Point is, it'll be there.
Moderator Emeritus

Re: Over Limit on CCs



jaguls66 wrote:
If you go over your limit, say even by 2 or 3 dollars, will this haunt you?

I have not done this, just a curious question.


Yes, if the CCC reports it.  Over the limit is worse than maxed out.
Moderator Emeritus

Re: Over Limit on CCs

It only hurts you for that month though (assuming you are back under your CL now).
Frequent Contributor

Re: Over Limit on CCs

not over the limit, just curious. So it seems, it would only hurt for the month the CC was reported, unless it was paid below the limit by the time the CC reports? Thanks for indulging my curiosity.
Moderator Emeritus

Re: Over Limit on CCs



jaguls66 wrote:
not over the limit, just curious. So it seems, it would only hurt for the month the CC was reported, unless it was paid below the limit by the time the CC reports? Thanks for indulging my curiosity.

Exactly.
Established Contributor

Re: Over Limit on CCs

That happend to me with hsbc. They put me over with the annual fee. I was so pissed. I called asked the to remove the fees they did. I asked them to increase my line so my CR didn't show me 27.00 over my CL and they said they would but they would have to review my account(hard pull) I refused and zeroed the account. Now they have been sending 0% checks etc. but no CLI.  I will wait till they review on their own and see what happens then.
9/18/08 TU=707 EQ=706 EX=702
Established Contributor

Re: Over Limit on CCs

i would try a cli to get above the high balance...i think this would be particularly helpful during a manual review.