Over the limit fee.

[FixMyCredit1992]

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?

[Creditaddict]

---

@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.

[-Wade-]

---

@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

[Anonymous]

---

@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?

[FixMyCredit1992]

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?

[bribro]

---

@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.

[Creditaddict]

No you do have to opt in for credit cards too.

otherwise no fee will be charged if they let you go over.

[bribro]

---

@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.

[bribro]

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.

[gdale6]

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