Over Limit!

[illcrew3]

I just checked my First Premier account and the surprise annual fee put me 27 dollars over my limit. Is this going to hurt my fico and if so how much? Is there anything I can do to remedy this? I called up First Premier and the woman I spoke with told me there was nothing I could do about it.

[Anonymous]

---

illcrew3 wrote:

I just checked my First Premier account and the surprise annual fee put me 27 dollars over my limit. Is this going to hurt my fico and if so how much? Is there anything I can do to remedy this? I called up First Premier and the woman I spoke with told me there was nothing I could do about it.

---

You can't change what has happened, but I would suggest that you go online and make an immediate payment to get your balance down under the credit line. Just be sure to make enough of a payment to cover the overlimit portion and the online payment fee (which I despise) that they will charge to the card, and some extra to allow room for the Overlimit Fee, Monthly Service Fee and Interest that will be added on at your next billing cycle.

This of course assumes that you don't have the ability to PIF. That would be better yet. First Premier is pretty strict with their fees, but occassionally, if you are fast enough taking care of the problem, they won't charge you the overlimit fee. I wouldn't hold my breath, but in any case, the faster you can make a payment the better for you. Good luckto you!

[illcrew3]

Yeah I paid off 200 bucks. I would close this card but its my oldest TL. Maybe a GW would do something?

[Anonymous]

Question. Will this hurt this Op credit score? Will getting a CLI to raise CL reverse it?

[illcrew3]

They will not give me a CLI because they only allow 1 a year.

[Anonymous]

---

illcrew3 wrote:

They will not give me a CLI because they only allow 1 a year.

---

They allow the first one after six months if the account has been in good standing, and then you have to wait a year for the next one. Have you passed the six month mark and tried for one online? Keep in mind (and you may already know this), they charge you $25 for CLI.

[illcrew3]

I have had the card for 2 years and got a CLI 4 months ago.

[Anonymous]

---

illcrew3 wrote:

I have had the card for 2 years and got a CLI 4 months ago.

---

Then you are correct, you still have eight months to go. But maybe by then, you will have better cards and can do like I did and say "Please close my account(s). I don't need them anymore and they are costing me money."

That advice goes against the general rule regarding closing accounts, but I spent my share of time paying monthly maintenance fees, annual fees, etc. and finally decided that enough was enough. I closed them out and only lost a few points because the history is still there and I had replaced them with better cards with higher CL and lower APR.

Don't give up! Good things will come your way.   

[illcrew3]

Yeah I'm hoping for some better prime cards but it seems Ihave been in FICO limbo for the past year. My score hasn't really changed much.

[Anonymous]

---

illcrew3 wrote:

Yeah I'm hoping for some better prime cards but it seems Ihave been in FICO limbo for the past year. My score hasn't really changed much.

---

Same here. I did not understand about utils and how much impact they can have. I am now paying my CC down and hope it will help me raise my scores. I am currently at 42.56%. Shooting next to reach the 30% mark and then start heading toward that 1-9% range. But the first time I ever looked at my scores, they were about 485 (about 3 yrs ago). Now they are TU 635 / Ex 603 / EQ 638 Not great, but moving on up.