Credit Tips: Going Over Credit Card Limit

Posted On: August 29, 2006

Author: funky
Posted: Tue Aug 29, 2006 9:22 pm
Post subject: Woops! Went over my limit.

I recently went over my $2200 limit by $250 on my City credit card. This is my first blunder in the credit world. My questions are how bad this will hurt my credit report, and how I can help resolve it. I have since paid down the card to $450 below my limit. How will this appear on my report if at all? I will still get a green ok for that month on my reports, won’t I? I know (2? of) the credit reporting agencies have your highest balance on the report. I would assume that will hurt if you high balance is higher than your credit limit. Should I contact city and ask them to do anything to help? Maybe see if I can raise my limit to above the high?

Thank you for your help.

Author: rapjunkie
Posted: Tue Aug 29, 2006 10:06 pm
Post subject:

The overlimit incident won’t be reported to the bureaus as a negative. However, calling CIti to ask for a CLI to outweigh the high credit amount would be a good idea. Overall it’s not a big deal.

Author: Dmoney
Posted: Tue Aug 29, 2006 10:08 pm
Post subject: Going Over Credit Card Limit

just don’t do it again in a year, if not ever. two in a year for most companies will give you rates like you have never seen, and I don’t mean good ones

Author: ajulius
Posted: Tue Aug 29, 2006 10:32 pm
Post subject: Going Over Credit Card Limit

Dmoney wrote:
just don’t do it again in a year, if not ever. two in a year for most companies will give you rates like you have never seen, and I don’t mean good ones

This is why Visa Signature and Mastercard World come in handy for those who qualify as well as American Express.

I think some CC’s have no overlimit fees now, not sure of them offhand however.

Author: JaneiR36
Posted: Wed Aug 30, 2006 5:52 am
Post subject: Going Over Credit Card Limit

Call and play nice, they might waive the fee!