topic Re: Overlimit credit card in Credit Cards

Overlimit credit card

Anonymous — Sat, 22 Jan 2022 22:42:22 GMT

I made a silly mistake and went over my credit limit. Before it was caught, It was already on my statement. I have a personal and business AMEX card and silly me I used my personal for a huge expense for my business and went over by $5. How is this going to effect my profile and future inquires? I paid half the balance but I wish I caught this early because I'm really stressing now.

Re: Overlimit credit card

CreditInspired — Sat, 22 Jan 2022 22:47:27 GMT

Honestly, I thought you were going to say $5K. Just pay your statement balance in full to include the $5 and IMO it's all good.

Re: Overlimit credit card

Brian_Earl_Spilner — Sun, 23 Jan 2022 00:02:29 GMT

Amex cards are flexible limit cards. Not a big deal.

Re: Overlimit credit card

SoCalGardener — Sun, 23 Jan 2022 00:54:16 GMT

@Anonymous wrote:
I made a silly mistake and went over my credit limit. Before it was caught, It was already on my statement. I have a personal and business AMEX card and silly me I used my personal for a huge expense for my business and went over by $5. How is this going to effect my profile and future inquires? I paid half the balance but I wish I caught this early because I'm really stressing now.

I agree with the other comments, there's nothing to worry about. (Assuming you've paid it.) But I want to add something:

I found out--accidentally--that Amex will *let* you go over your limit! With no penalties, no fees, no boo-boo marks on your account, etc. I was sitting around one night playing with the Amex app on my phone (if I remember correctly--it's been months, so I could be wrong!), and there's a feature like 'how much can I spend?' While in one of my credit card accounts, I accidentally entered a figure with an extra zero. In other words, instead of $1,000 (or whatever) I put $10,000 (or whatever). And it said, sure, no problem! I remember posting about it at the time, because afterward I actually looked up on their site how that works, and I pasted in their blurb about it. Among other things, it says that although they may temporarily increase your spending power higher than your limit, this does NOT mean your limit has been permanently increased.

Look around the Amex site and you'll find what I'm talking about. Bottom line, assuming there are no hidden things we don't know about (like a history of late payments), there should be nothing to worry about.

Re: Overlimit credit card

wasCB14 — Sun, 23 Jan 2022 01:43:17 GMT

In 2019 I took a $13k BBP up to about $40k.

I did get a little "gentle reminder" call a few days before the ~$27k minimum payment was due: https://ficoforums.myfico.com/t5/Business-Credit/Amex-called-with-questions-no-AA/m-p/5569808

But apart from that I've had no problems and have since added one revolver, a personal charge, a business charge, and been added as an AU on a business revolver.

Re: Overlimit credit card

SG43 — Sun, 23 Jan 2022 19:48:04 GMT

I took my gold with a 5100$ POT limit up to 17000$ out of the middle of nowhere one month and never even got a call or text or anything. On a card that had never been over maybe 2500$. I paid in full. Nothing out of the ordinary at all. Like amex didn't even notice

relax

Re: Overlimit credit card

AverageJoesCredit — Sun, 23 Jan 2022 20:13:34 GMT

@SG43 wrote:
I took my gold with a 5100$ POT limit up to 17000$ out of the middle of nowhere one month and never even got a call or text or anything. On a card that had never been over maybe 2500$. I paid in full. Nothing out of the ordinary at all. Like amex didn't even notice

relax

Im sure they noticed. They just chose not to take any action.