Apple Card over limit

[Anonymous]

I got my Apple Card ($1250 sl) in late November. I'm hoping for a really healthy cli so have been following all suggestions and have been putting heavy spend with large payments on it. This week I went over my credit limit accidentally. I immediately paid it to below the limit. I'm planning to pay it off this week so am not concerned with the high balance. During December I've spent and paid twice my limit already. I'm concerned though about what kind of damage going over my limit might do. I really really want a cli as soon as possible and worry GS might look negatively upon this. Anyone have any info on this? 

[CreditAggie]

I accidentally went over my limit once in October 2019 back when I had a $250 limit. The charge was declined. I have since had no AA from GS and have had no problem with getting CLIs.

[KLEXH25]

Usually you only need to be worried about going over your limit if it reports. I'm not familiar with the reporting habits of the Apple Card, but cards typically only report the balance once a month. The fact that you paid it off right away should be fine. I'd be more worried about going over and leaving it there. But a temporary blip should be no issue. Hopefully they'll see that you are using  your card a lot and give you an increase. 

[CreditAggie]

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@KLEXH25 wrote:

Usually you only need to be worried about going over your limit if it reports. I'm not familiar with the reporting habits of the Apple Card, but cards typically only report the balance once a month. The fact that you paid it off right away should be fine. I'd be more worried about going over and leaving it there. But a temporary blip should be no issue. Hopefully they'll see that you are using  your card a lot and give you an increase. 

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Apple Card only reports statement balances. Since it was paid off right away, the 100%+ utilization wouldn't be reported.

[NRB525]

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@Anonymous wrote:

I got my Apple Card ($1250 sl) in late November. I'm hoping for a really healthy cli so have been following all suggestions and have been putting heavy spend with large payments on it. This week I went over my credit limit accidentally. I immediately paid it to below the limit. I'm planning to pay it off this week so am not concerned with the high balance. During December I've spent and paid twice my limit already. I'm concerned though about what kind of damage going over my limit might do. I really really want a cli as soon as possible and worry GS might look negatively upon this. Anyone have any info on this? 

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Congrats on getting charges approved that allowed you to go over the limit. If anything I see it as an indication you are due for a CLI. 

[HeavenOhio]

What does this card report for high balance? Is it the highest statement balance, or is it the highest balance overall?

[Who_wuda_thought]

Yeah, I was wondering that too.  I think some folks don't realize that their highest balance "ever reached", is in fact reported in most cases (though not necessarily a scoreable factor in most FICO models) in addition to statement balance.

[Anonymous]

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@HeavenOhio wrote:

What does this card report for high balance? Is it the highest statement balance, or is it the highest balance overall?

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In my experience, it's almost always the highest balance that the account has ever reached, even if it was only for an hour.

Fortunately, it doesn't seem like having a card reporting that the highest balance was over the credit limit makes much of a difference. I think most companies recognize that we can sometimes go over our limits accidentally and are willing to look past it as long as it's not a reoccurring thing. If you're over your credit limit at the end of many of your billing cycles, that is where you're going to start having issues. 

Of course, YMMV, but that's how it seems to work for me.