Over the credit limit! Fee coming?

[Anonymous]

I haven't used a CC in years and I am just getting back in the mix. Well I can already see I'm a wee rusty. I had some available credit on my Credit One and made some purchases but by the time I realized I had gotten too close to my CL and to my statement cut date, well, too late! My statement cut and the interest put me over the credit limit.

From what I remember this will ding my score this month for Util% but once I bring down the balance down next month FICO won't punish me for being over my credit limit in future months (a manual review from another creditor could see my highest balance was over my CL as long as my CL remains the same). Now it may affect my CLI chances with Credit One if I'm not mistaken.

The bigger question, will Credit One charge me an outrageous over the limit fee? 

[Anonymous]

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@Anonymous wrote:

The bigger question, will Credit One charge me an outrageous over the limit fee? 

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I am puzzled.  Surely the right question is not will they but did they?  The event you are describing (going over the limit as a result of interest) occured just before your statement was generated.  You should be able to see that statement.  It will indicate whether you have been charged a fee.

As a backup, the first place I always go to get questions answered is Google.  I found the fee schedule for Credit One in a second near the top of the search.  There appears to be no fee mentioned for what you describe.

https://www.creditonebank.com/pre-qualification/terms/all-terms

I am glad you have restarted your use of credit.  My advice is to track your purchases a bit more carefully and make two payments a month: one payment a week before the statement cuts and the other a few days after.  Before the statement cuts pay the card down to $5.  Way down the road you will eventually have 3+ major credit cards and can simply use them and allow auto-pay to handle your payments if you like.  Right now, however, some micro-managing is in order.