Over credit limit

[Anonymous]

I know that going over your approved credit limit is not a good thing.  My question is, does it reflect on your scores?   I defaulted on a capital one card a long while back and they offered me a new card with the balance of the previous card added on.  I repaid almost all the amount before they sold it to a new company.  I paid off the remaining balance with the new company.   However they are listing my credit limit at $300 and my high balance because of the balance that was transferred from the Cap1 as $500.  Does this hurt me?   Is there anything I can do to change it if so?

[Anonymous]

Tuscani?  Noah?  Mercy?  TNWM? Midnight?  Anyone have any ideas?

[Anonymous]

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princessofpink wrote:

I know that going over your approved credit limit is not a good thing.  My question is, does it reflect on your scores?   I defaulted on a capital one card a long while back and they offered me a new card with the balance of the previous card added on.  I repaid almost all the amount before they sold it to a new company.  I paid off the remaining balance with the new company.   However they are listing my credit limit at $300 and my high balance because of the balance that was transferred from the Cap1 as $500.  Does this hurt me?   Is there anything I can do to change it if so?

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Is this showing as a collection or charge off? That will hurt you worse than being overlimit.

Normally with Cap 1, since they don't report limits, going overlimit does not hurt your FICOs. I mean if the high balance is showing as $533, your CL could be $500 or it could be $600. How could anyone know from looking at your CRs? They couldn't. Going overlimit costs you fees, so please understand that I ain't recommending it. But in terms of your FICOs, I don't see any damage.

Is this TL with Cap 1 for your current CC that is showing a $500 high balance and a $300 limit? Leave it to Cap 1 to find a way to report limits only when it will hurt.

Message Edited by Noah_Bodie on 06-12-2007 01:32 PM

[Anonymous]

No, I'm sorry I didn't make it more clear.  The CL is showing up with the new company that purchased the account from CAP1, but because of the balance transferred from Cap1 over my actual credit limit at the time it shows my high balance as $500 and the credit limit of $300.   In all honesty though, I believe the actual balance that came over by the time the new company purchased the account may have been only about $38.00 so I do believe the high balance is incorrect.   I'm not sure if it's causing a problem for my showing that the account was over the limit.  I've learned that with the good TL's disputing something on them always seems to end in the CRA's deleting the account. 

Edited to add... Thanks for responding Noah.  I really appreciate your help.

Message Edited by princessofpink on 06-12-2007 02:10 PM