I made a purchase on my Discover card this weekend for $470 when my available credit was $136.
There is a $1000 limit and I have paid most of what I owed. But the limit is still $136.. Why is it so low? Do they increase it after the statement due date even though I made payment early??
Also what is going to happen? Will they just deny the transaction or will this be affecting my credit score as well?
2006-09-17 12:04:54 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
They'll charge you a fee, and you'll have to pay the full amount back this next due date, or else you'll continue to get charged more fees, every month. Make sure to take into factor interest you'll be charged for the month! (Also, it CAN affect your credit score if they report it that you went over the limit. Sometimes if it only has happened once and you call they will wipe it off, but it depends.)
2006-09-17 12:13:51 · answer #1 · answered by ShouldBeWorking 6 · 0⤊ 0⤋
It would have been denied at time of purchase if the payment you made had not cleared. So although you are trashing your credit rating by staying at or near your limit, you are most likely not in trouble. The computer registered the payment you made and recognized that limit was again above 136. My limit is 18,000 and I make a lot less than you. Why, because I make large payments and often pay off the balance. You don't want to be messing with credit after the changes in bankruptcy laws that started last year.
2006-09-17 12:21:57 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Each financial institution is different. Although I work with consumer loans (credits cards are loans) every day, even I can't answer your question until I look at your card history and the notes on the account. This is a question you need to ask Discover since they know what your card history is like.
2006-09-17 12:11:30 · answer #3 · answered by lady01love 4 · 0⤊ 0⤋
They will dispatch the Gestapo to thrash your domicile and rape your York Terrier. Honestly, the fault lies with the person who ran your card, had they checked the way how they were supposed to, it never would have gone through. Looks like you managed to get a credit line increase all on your own! Just pay it back early, if you can, and quite possibly they will trust you with more. Who knows? It's a weird,weird world.
2006-09-17 12:12:22 · answer #4 · answered by rasputin 3 · 0⤊ 0⤋
it fairly is merely right to maintain the cardboard. you need to use it now and lower back or they're going to close it. cost some thing small, then pay it off the comparable month so which you do not incur any activity quotes. that fairly is the merely right thank you to apply a mastercard - as a cost card that's paid each and every month, quite than maintaining a stability. it will make your credit go up.
2016-12-15 09:34:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
There are many different things that they could do, and chances are they may do at least one of them.
They could charge you an overlimit fee.
They could put a negative mark on your reports
They could rate jack you to their highest interest limit.
They could decrease your credit limit, maybe alot maybe a little, either way that will hurt your credit.
2006-09-17 15:45:36 · answer #6 · answered by echo 7 · 0⤊ 0⤋
They most likely will NOT deny it..............they will FINE you. This is JUST another way that they make $$$. You will get a penalty fine for going over..and then have to pay interest on THAT money !!! It never ends !!!!
2006-09-17 12:13:06 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Call and aks them, if you paid on time it is possible it just hasn't appeared on your account yet. They will certainly appreciate you if you have been paying on time.
2006-09-17 12:14:10 · answer #8 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
You will probably be charged an overlimit fee and your interest rate will go up.
2006-09-17 12:14:00 · answer #9 · answered by Anonymous · 1⤊ 0⤋