2006-09-12 22:50:54 · 11 answers · asked by jammie1607 1 in Business & Finance ➔ Credit
monthly and if your past due another fee, so like I'll be 2 days late - $30 fee and of course it sends me over my limit - another $30 fee BUT if you have an exteniuating circumstance or a really good excuse you can ask for a "courtesy waive" they usually give you one a year
2006-09-12 22:52:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It depends on the credit card. Remember that many different banks issue Visa cards, and each have their own policies.
Typically they will charge you a monthly fee of $35 or something like that amount. In addition they will change your interest rate to a penalty rate that can be as high as 34.99% depending on how mean they are. Even once you bring the account back in line they may well revert to a default rate in the mid 20% range where it will stay. They will cancel any promotional rates you were getting such as fixed low introductory rates or 0% balance transfer rates.
You should contact them immediately and apologize. Give them a clear time frame in which you intend to bring the account back in line. Then once you have the account back under control you can ask them to lower your interest rate again. If you don't it will stay at the higher default rate.
If this is a one off you will likely find them fairly helpful. If you keep doing it they will punish you. The most important thing (other than not breaking your terms of use) is to keep in touch with them. Going over the limit, missing a payment, any kind of stuff like that makes them nervous since statistically it puts you in a higher risk category. This is why they start charging you more money and penalties.
2006-09-13 01:25:54 · answer #2 · answered by ZCT 7 · 0⤊ 0⤋
Yes - If you go over the limit, you will be charged a Overlimit Fee and it usually depends upon the lenders discretion on how often they charge the overlimit fee. However, most financial institutions practice monthly overlimit fee. You should be able to enquire this by calling your bank.
2006-09-12 23:25:10 · answer #3 · answered by KKR 1 · 0⤊ 0⤋
hi,
if u go over the limit on your visa credit card , u will be charged an over the limit fee monthly . the over d limit fee is decided by the bank which has offered u d credit card and it would vary from one bank to another.
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2006-09-12 22:53:49 · answer #4 · answered by Alen 4 · 0⤊ 0⤋
monthly... But check the fine print on the application or contract.... There can be additional interest charged to the amount you went over in addition to the fees....
2006-09-12 22:52:59 · answer #5 · answered by mikey 3 · 0⤊ 0⤋
Will they allow you to go over the limit? I would hate to get myself into that position. It is one the most expensive credit rates going.
2006-09-12 22:56:08 · answer #6 · answered by dot&carryone. 7 · 0⤊ 0⤋
some company charges on monthly basis and some on daily basis talk to your visa provider company
2006-09-12 22:55:57 · answer #7 · answered by hemant j 2 · 0⤊ 0⤋
You won't be able to use your card once your are over the limit until you settle your bill.
2006-09-12 22:59:52 · answer #8 · answered by Kurt 2 3 · 0⤊ 0⤋
It should tell you for sure on your statement, or call them, but it is usually monthly.
2006-09-12 22:52:25 · answer #9 · answered by Stephanie F 7 · 0⤊ 0⤋
With most, it's monthly, but with the Mafia Mastercard it's hourly...
2006-09-12 22:58:31 · answer #10 · answered by nikkoj1975 4 · 0⤊ 0⤋