What happens if you exceed your credit card's credit limit?

Question

Can you still purchase or not? Will the company hold your power to purchase? If you only paid the minimum payment, can you purchase again?

Answer 1

"What happens if you exceed your credit card's credit limit?" --- you have to pay a penalty for going over, your APR sometimes goes up, you can't make purchases with the card until you pay it, your minimum payment will be higher than usual. "Can you still purchase or not?" --- you can't make purchases after you've exceeded your limit (though your limit is often raised if you pay your card on time, so it might be higher than what you started with) so you can't UNLESS more than one transaction went through at one time, sometimes little mistakes happen and some purchases can go through, but usually they don't :( "Will the company hold your power to purchase?" --- yes, with that card they will, you can call them and negotiate to have your limit raised but that doesn't always work. "If you only paid the minimum payment, can you purchase again?" --- yes, but no - if you go over your credit limit there will be an additional fee, and if you're late on your payment then your account will not be current and your minimum payment will be much higher than your regular minimum payment. You can still use your card as long as you are not exceeding your limit. So if your limit is $1000, and you are at $1050, you can pay $100 and purchase something less than $50.

Answer 2

Exceeding Credit Limit

Answer 3

This Site Might Help You.

RE:
What happens if you exceed your credit card's credit limit?
Can you still purchase or not? Will the company hold your power to purchase? If you only paid the minimum payment, can you purchase again?

Answer 4

Normally, if you go over your credit limit, you will not be able to use your card for purchases again until you have paid an amount sufficient enough to bring you back under your credit limit.

Also, most (if not all) credit card companies will charge you an over the limit fee for exceeding your credit limit. Going over your credit limit may also affect your interest rate on your card.

Answer 5

If you go over the limit you will #1 be charged an over the limit fee and it could cause your APR to rise... #2 You can't charge more if you have gone over your limit #3 if your minimum payment brings you back under your credit limit you can charge up to your credit limit again

Answer 6

You need to read this:

Credit Card Debt Management
http://www.debt-explained.com/category/Credit-Card-Debt-Management.html

Answer 7

The credit card company sends out a tactical hit squad.

Answer 8

Wow! Thanks! exactly what I was searching for. I tried looking for the answer on other websites but I couldn't find them.

Answer 9

A big giant crocodile will come to your door and eat you up!!

Answer 10

U R SCREWED