Over limit reported

[MikeB4]

On Creditkarma it shows as 168% over limit so my QS secured card was at $336 over the $200 limit. I paid the entire balance off it's a secured card so likey to be a bucket card but what does that leave me down the road going forward without any other issues?

[GZG]

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@MikeB4 wrote:

On Creditkarma it shows as 168% over limit so my QS secured card was at $336 over the $200 limit. I paid the entire balance off it's a secured card so likey to be a bucket card but what does that leave me down the road going forward without any other issues?

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it's not ideal to have an overlimit reporting and it can linger around as a denial reason

they may also decide to not graduate you for X number of months because of it

capital one does have a feature where they do allow you to go over the limit, so they might not mind too much, but again, not ideal to let it report to your credit 

[FicoMike0]

Don't do that! The whole point to a secured card is to demonstrate you can handle credit. You just showed them you cant. I think you should keep util under 29% and pif every month. That should lead to graduation to unsecure as quickly as possible.

Then again, what do I know? I can't get Capone to cli my card over $3200. My more recent bce is at $27,000, no 3X cli from capone like amex does.

[Utilization1]

What is the utilization on any of the other 3 bureaus aside from CK ? Are you focused on paying this balance down prior to statement close date this should be your goal. I also wouldn't push that 30% utilization rule on this low limit card possibly a focus of 20% would help your credit build . Also see if you can pull in a stronger credit builder card credit unions have pretty good starter cards . This will sound silly however can you add maybe Netflix subscription, myfico monthly charge , and maybe limit the spend to something more fixed that you can control ?

[MikeB4]

I'm trying to figure out the due date and the statement date.. I assume the statement date being passed is what caused the high utilization? As the payment was made before the due date.

[MikeB4]

I understand what you're saying, it's just you have people here saying max it out and PIF which is what I've been trying to do and credit cycling last statement was around $450 in payments I feel if the way with that would end up getting the account restricted given the amount I get paid a week.

The only recurring charge I put on it is the google storage charge around $2.99 a month

[pizzadude]

Moved to Credit Cards

[FicoMike0]

You should find your billing, or post, date on your statement. Just for you, I looked mine up. Log into the app, select the credit card. Scroll down to "statements and documents", select "view all" there are all of your statements, listed by date. If you have one titled "November card statement November 9, 2024" ,like I do, your billing date is November 9. I notice the previous one is dated October 10. When I open the statement, I see that my payment is due December 4. In the fine print it says it's a 30 day period. The date moved a day because October has 31 days. My statement date is always the 9th or 10th, except feburary, it was 8th. My due date is always the 4th. 

I never let my savor card post nonzero, so I always pay the bill before the 8th. 

[FicoMike0]

That credit cycling stuff, charging it up, paying it off frequently, is intended to get them to raise your credit limit. It doesn't help your score. I wouldn't mess with it on a secured card, you're stuck with your deposit amount. You first need it to graduate to unsecured. The main thing for you is to get the utilization under 9%, not zero, before the statement date, then pif before the due date. Charge something every statement period.  That will max your score and make you look like a responsible credit user. Once you get unsecured, you can try cycling to get a higher limit.

I've found Capone will approve a cli request every six months. I haven't done well there, but I don't use the card much. I'm usually putting spend on another new card for a sign up bonus. I'm sub crazy! Right now everything is going on navy flagship visa for a $400 sub.

[saltlakere]

You've absolutely nailed it. Going over a credit limit is very bad for credit scores. But, they'll recover if that balance gets paid down. For a low limit card like that, it should never report more than 10%.

As far as C1 goes, the best thing I ever did was close those accounts and get ones that could grow. Their history will stay on your credit report for 10 years, so close away!