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The Seaward
LSU Fan
Baton Rouge
Member since Jan 2006
5608 posts
 Online 

Over the limit on CC


I just got my first credit card less than a year ago, so I don’t have a very high limit. I charge most of my purchases to it in order to build credit and get rewards, and I pay it off in full every month. Well this month, I got careless and without realizing it charged $30 over the limit. I really don’t want to pay a fee or have my credit dinged. The statement isn’t posted for another three days, so can I just pay it off now before the statement to avoid this? Or is there anything else I can do?

This may be a stupid question, but I am not really sure how exactly this works. Thanks in advance to anyone that helps.







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Tigerpaw123
USA Fan
P'ville
Member since Mar 2007
8754 posts

re: Over the limit on CC


Call your CC company right now, tell them what happened and see if they will work with you





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iknowmorethanyou
LSU Fan
Paydirt
Member since Jul 2007
4202 posts
 Online 

re: Over the limit on CC


They might automatically raise your limit. Especially if your payment history (although short) is timely.





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lsupride87
LSU Fan
baton rouge
Member since Dec 2007
2873 posts

re: Over the limit on CC


First of all, if it is just a standard credit card and not a rewards card, chances are there is no over the limit fee. Second, if you quickly pay it off before statement date, you will likely be fine. They only check your balance periodically, so they likely will not know you went over the limit if you pay the balance quickly.





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HeadyMurphey
LSU Fan
Los Santos
Member since Jan 2008
15641 posts

re: Over the limit on CC


quote:

or have my credit dinged


Other than over utilization, you will not get dinged for going over your limit.






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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
38780 posts

re: Over the limit on CC


quote:

so can I just pay it off now before the statement to avoid this?


If it didnt already ring you up with a fee automatically then you should be fine paying it before the statement is made. The statement will be created based on current status.






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lsupride87
LSU Fan
baton rouge
Member since Dec 2007
2873 posts

re: Over the limit on CC


quote:

Other than over utilization, you will not get dinged for going over your limit.
But if he pays his balance down to 40% before statement date, he wont have to worry about that. Over utilization only affects the credit score for that one month, pay the balance down to 40% or less next month, and score goes back up. No biggie






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Lsut81
USA Fan
Member since Jun 2005
61400 posts

re: Over the limit on CC


Just call the CC company and talk with them. A lot of times they will make concessions if it is your first issue.





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lsupride87
LSU Fan
baton rouge
Member since Dec 2007
2873 posts

re: Over the limit on CC


quote:

Just call the CC company and talk with them. A lot of times they will make concessions if it is your first issue.
Do not do this until you see a fee posted. Most likely they will never know you went over the limit if you pay it down soon after. However, they will definitely know if you call and tell them






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KG6
LSU Fan
Member since Aug 2009
1461 posts
 Online 

re: Over the limit on CC


I didn't even know you could go over the limit. I thought it would just decline the card.





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The Seaward
LSU Fan
Baton Rouge
Member since Jan 2006
5608 posts
 Online 

re: Over the limit on CC


quote:

I didn't even know you could go over the limit. I thought it would just decline the card.


I was under that impression as well.






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120328 posts

re: Over the limit on CC


quote:

I didn't even know you could go over the limit. I thought it would just decline the card.


It depends. Some things take longer to post. If you had eaten at a couple of restaurants or bars and left a tip, the tip amount won't post until later which could fool you into thinking you had more available credit if you checked your balance in real time.






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Meauxjeaux
Memphis Fan
Team Vag
Member since Jun 2005
16203 posts

re: Over the limit on CC


quote:

I didn't even know you could go over the limit. I thought it would just decline the card.


I was under that impression as well.


You have to call the card issuer and "opt in" to that feature.

Otherwise they love it when you go A) over the limit on CC, or B) under the limit on debits - also known as OVERDRAWN -

because they love those $30 fees.

Call them and opt in and you will get declined if your purchase would go over the credit limit or under your debit balance.



This post was edited on 8/9 at 12:36 pm


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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
28581 posts

re: Over the limit on CC


Pay whatever your statement says is owed. If they tack on an extra fee that will show up on your next statement, you can then call them and ask to have it removed. Which they possibly will if you've been good so far.





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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
39880 posts

re: Over the limit on CC


This thread makes me appreciate discover more.





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Old Money
LSU Fan
Miami
Member since Sep 2012
6720 posts
 Online 

re: Over the limit on CC


Happened to me so many times when figuring out where my money went.





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