How does going over your credit limit affect your credit card?
Credit Card
Nichole asked:
I went over my credit limit because of a returned check, but quickly paid the (full) balance for the bill. This is my first credit card, and I am hoping to get my APR lowered and credit line raised. How will going over my credit limit/bouncing a check affect my chances of getting a lower APR and higher limit?
I went over my credit limit because of a returned check, but quickly paid the (full) balance for the bill. This is my first credit card, and I am hoping to get my APR lowered and credit line raised. How will going over my credit limit/bouncing a check affect my chances of getting a lower APR and higher limit?
Thanks
Judy
May 19th, 2009 at 5:28 pm
Lauren
umm depends on the cc
May 20th, 2009 at 12:05 am
Manuel
geez, I only know how being late affects your credit card, you’ll have to pay a penalty fee that’s all I can think of.
May 21st, 2009 at 8:25 am
Milton
please answer:
May 24th, 2009 at 6:01 pm
Dennis
If you paid it quick thats a good start. Probably a one time offense will not effect your credit much if at all. The only way your credit would be effected by a check returned is it was turned into a credit bearu that put it on your credit score. If you paid it right away you are fine.
May 26th, 2009 at 6:23 pm
Alex
Every credit card company handles this different. Just call the company and ask them what their policy is on your situation - then keep your account up to date.
May 30th, 2009 at 12:51 am
Eileen
Most credit card companies have a penalty for being late on a payment. Once you mess up, they automatically raise your rate. The way it affects your credit is through your credit score. You want your score to remain average. Remember your score is what the banks look for.
June 2nd, 2009 at 7:54 am
David
Going over your limit usually involves a fee depending on how much you went over. If you paid it off promptly and this is your first time it would be a good time now to see if your limit can be raised if it is within reason in relationship to your income. Just tell them you need a higher limit. On the other hand if you wait and going over becomes a habit a bank will be reluctant to raise your limit.