topic Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes in Credit Cards

Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Mon, 25 Mar 2013 23:57:24 GMT

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Mon, 25 Mar 2013 23:58:22 GMT

It won't as long as you pay before statement closes.

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Tue, 26 Mar 2013 00:06:25 GMT

wheww! Thanks for your response. I didnt think so just was wondering! I checked my activity today and noticed i have a charge that will put me overlimit until friday/pay day lol

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Tue, 26 Mar 2013 00:28:33 GMT

@Anonymous wrote:
wheww! Thanks for your response. I didnt think so just was wondering! I checked my activity today and noticed i have a charge that will put me overlimit until friday/pay day lol

depending on the card though there could be a fee but that does not inpact your file

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Tue, 26 Mar 2013 00:40:19 GMT

Correct- most lenders charge over limit fees.

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

LS2982 — Tue, 26 Mar 2013 01:31:44 GMT

When lenders review your file they can see that you have went overlimit on a card at least once and that may impact a decision if other negatives are present.

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Tue, 26 Mar 2013 01:38:15 GMT

@ LS- Other lenders can see your balance if is paid before your statement cuts?

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

LS2982 — Tue, 26 Mar 2013 01:40:07 GMT

@Anonymous wrote:
@ LS- Other lenders can see your balance if is paid before your statement cuts?

Yes if they have a HP of your file there is a line for "High Balance" and that is comparable to your credit limit.

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Tue, 26 Mar 2013 01:47:35 GMT

I have never have a problem with going over limit. Also, I have transfered lines around and created cards with high balances well above their limits.

Never been a problem. No worries.

As long as you pay your bill nobody cares.

Staying over limit for a long time combined with late payments is another story.

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Tue, 26 Mar 2013 01:51:47 GMT

@ LS Ok, I get that but I just remember reading that although it will affect your score until it is paid (because your CR's are a snapshot of what is current) but in the ops case they were paying it before the statement cut. I assumed OP was not applying for credit until bal was paid.

Edit: to respond to LS. This inability to quote is just awful- sorry.

Re: Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

Anonymous — Tue, 26 Mar 2013 01:51:49 GMT

A few Points

You have to agree to Overlimit Fee or they can not charge an overlimit fee. Agreeing to this is a scam since they can choose to accept or deny the charge whether you agree to the fee or not.

There is no record of going over the limit in your CR so, it does not matter even if you let the balance report. Of course your utilization will be high for that time, but again no records of that either.

The fact that a high balance is over the current CL does not mean that you were ever overlimit. CL go up and down over time.