Over the limit fee.

[longtimelurker]

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@bribro wrote:

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@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.

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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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From FRB: http://www.federalreserve.gov/consumerinfo/wyntk_creditcardrules.htm

• Restrictions on over-the-limit transactions. You must tell your credit card company that you want it to allow transactions that will take you over your credit limit. Otherwise, if a transaction would take you over your limit, it may be turned down. If you do not opt-in to over-the-limit transactions and your credit card company allows one to go through, it cannot charge you an over-the-limit fee.
• If you opt-in to allowing transactions that take you over your credit limit, your credit card company can impose only one fee per billing cycle. You can revoke your opt-in at any time.

ETA: Saw Bibros correction too late..

[Revelate]

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@bribro wrote:

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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CARD Act is fairly recent, I think they simply stopped offering it as IIRC this was one of the specific things the banks got slapped for.  Also entirely possible the cards you're qualifying for simply don't charge for it in which case I suspect it's a non-issue.

[notfancy]

Also worth mentioning is that if the card is new, they could cancel you for going over the limit because they see it as risky behavior. Also, it will ding your credit score pretty hard to be not only maxed, but showing UTL over 100% on a card.

[usofascott]

The CARD act limits the overlimit fees that issuers can charge. First, you must opt-in to permit them to charge and overlimit fee.  Second, if you have opted in, then they can only charge a reasonable fee.  That limits them to 25 or 35 per month that you go over, but they also can not charge more than the amount by which you have exceeded your credit limit.

[john398]

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@notfancy wrote:

Also worth mentioning is that if the card is new, they could cancel you for going over the limit because they see it as risky behavior. Also, it will ding your credit score pretty hard to be not only maxed, but showing UTL over 100% on a card.

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Its only a temp ding OP said he is paying it off with his tax refund

[Involver]

You are aware that it's not a good idea to max out all of your credit cards, right?

[HeilFico]

He is aware. He has already been temp banned on another forum. He asks questions which look sincere but he has other agendas. 

[CreditMagic7]

It CAN BE dangerous to max out a CC but a single one not so much so, from my experience, provided that you're not drawing out heavy amounts of your other card limits and soon enough show appreciable control on the maxed.

[Involver]

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@HeilFico wrote:

He is aware. He has already been temp banned on another forum. He asks questions which look sincere but he has other agendas. 

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lol I know I post there regularly.  those threads are fun.

[fltn]

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@Involver wrote:

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@HeilFico wrote:

He is aware. He has already been temp banned on another forum. He asks questions which look sincere but he has other agendas. 

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lol I know I post there regularly.  those threads are fun.

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Can someone PM me the site mentioned.