Overlimit: How does/Will it impact ones credit file IF brought under BEFORE cycle closes

[09Lexie]

It won't as long as you pay before statement closes.

[Anonymous]

wheww! Thanks for your response. I didnt think so just was wondering! I checked my activity today and noticed i have a charge that will put me overlimit until friday/pay day lol 

[john398]

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@Anonymous wrote:

wheww! Thanks for your response. I didnt think so just was wondering! I checked my activity today and noticed i have a charge that will put me overlimit until friday/pay day lol 

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depending on the card though there could be a  fee but that does not inpact your file

[09Lexie]

Correct- most lenders charge over limit fees.

[LS2982]

When lenders review your file they can see that you have went overlimit on a card at least once and that may impact a decision if other negatives are present.

[09Lexie]

@ LS- Other lenders can see your balance if is paid before your statement cuts?

[LS2982]

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@09Lexie wrote:
@ LS- Other lenders can see your balance if is paid before your statement cuts?

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Yes if they have a HP of your file there is a line for "High Balance" and that is comparable to your credit limit.

[Dustink]

I have never have a problem with going over limit. Also, I have transfered lines around and created cards with high balances well above their limits.

Never been a problem. No worries.

As long as you pay your bill nobody cares.

Staying over limit for a long time combined with late payments is another story.

[09Lexie]

@ LS Ok, I get that but I just remember reading that although it will affect your score until it is paid (because your CR's are a snapshot of what is current) but in the ops case they were paying it before the statement cut. I assumed OP was not applying for credit until bal was paid.

Edit: to respond to LS. This inability to quote is just awful- sorry.