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Over the limit fee.
I had a $500 CL on the quack card.
Spent $500.31. (paying most of it w/ tax refund).
The site and the terms I got don't mention a OTL fee.
What will happen?
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Re: Over the limit fee.
@FixMyCredit1992 wrote:I had a $500 CL on the quack card.
Spent $500.31. (paying most of it w/ tax refund).
The site and the terms I got don't mention a OTL fee.
What will happen?
I thought just 2 days ago you were talking about closing because it was frozen?
anyway, it's a credit union so probably doesn't have the over limit fees, etc.
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Re: Over the limit fee.
@FixMyCredit1992 wrote:I had a $500 CL on the quack card.
Spent $500.31. (paying most of it w/ tax refund).
The site and the terms I got don't mention a OTL fee.
What will happen?
More and likey you will be charge between $25 - $35 over the limit fee.......Sorry
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Re: Over the limit fee.
@Wade64 wrote:
@FixMyCredit1992 wrote:I had a $500 CL on the quack card.
Spent $500.31. (paying most of it w/ tax refund).
The site and the terms I got don't mention a OTL fee.
What will happen?
More and likey you will be charge between $25 - $35 over the limit fee.......Sorry
Don't you now have to opt-in for over the limit stuff? (The alternative being the charge is declined). Or am I thinking of something else?
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Re: Over the limit fee.
That's on debt cards.
It's weird that there is no mention of one.
If I pay down the balance before the statement cuts, will I not be charged a fee?
Barclay's Apple Visa $1,200 QVC Qcard $800
Amazon Store Card $600 Discover $500
Walmart MC $400 Victoria's Secret $350
Credit One $300 Fingerhut $200
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Re: Over the limit fee.
@Anonymous wrote:
@Wade64 wrote:
@FixMyCredit1992 wrote:I had a $500 CL on the quack card.
Spent $500.31. (paying most of it w/ tax refund).
The site and the terms I got don't mention a OTL fee.
What will happen?
More and likey you will be charge between $25 - $35 over the limit fee.......Sorry
Don't you now have to opt-in for over the limit stuff? (The alternative being the charge is declined). Or am I thinking of something else?
I think you might be thinking of debit card overdrafts, which consumers now have to explicitly opt-in to.
OP, check your card T&Cs. It's likely you'll get dinged with a small fee.
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Re: Over the limit fee.
No you do have to opt in for credit cards too.
otherwise no fee will be charged if they let you go over.
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Re: Over the limit fee.
@Creditaddict wrote:No you do have to opt in for credit cards too.
otherwise no fee will be charged if they let you go over.
AFAIK, over the limit fees on credit cards can be simply mentioned in the T&Cs. Contrast this with a debit card overdraft which has a separate form you now have to sign as part of a 2010 revision to the Federal Reserve's Regulation E.
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Re: Over the limit fee.
I stand corrected, the CARD Act also requires disclosures and opting-in of for overdraft fees. Funny I can't recall a credit card issuer ever asking me for permission. Maybe the OP is safe after all.
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Re: Over the limit fee.
If the charges have not yet actually posted to the account initiate an immediate payment of $10 to bring it below and you will most likely avoid any OL fee