Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
Re: After all my hard work :(

rudy0720 wrote:

Be ready to pay that default rate of 29.99% too. Going over limit is like missing a payment with most credit card issuers


I don't think so.   If they are concerned about your credit, I assume they would decline the charges.   Or if you opt in, they can charge you a fee for going over (big money for them) and they still decide if they want to do it.

 

It is not really a negative, your score will be lower due to high utilization, but it is only temporary and there is no history of it on your credit report.

 

A missed payment on the other hand stays on your report for 7.5 years and truly is a negative. 

 

On a positive note, PayPal SC let me charge to about 125% credit limit.  I PIF after the statement closed and they gave me a 50% CLI.