and you just got the card ? what will happen
2006-11-02 05:29:52 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
If you had/have a really good reason for going over, call your credit card company and explain it to them; they may raise your limit.
2006-11-02 05:41:29 · answer #1 · answered by pinduck85 4 · 0⤊ 0⤋
If you go over your credit limit, you will be charged an over the limit fee and have to pay a higher minimum payment to cover the overage that month.
The other issue though is since this is a new card, your credit limit on the card may actually be reduced. The credit card company issued a card to you with the idea that you will not immediately hit the upper limit. Therefor, you may now be considered a higher risk borrower.
If you need a higher limit, you can always request an increased credit limit through the credit card company.
Take care,
Troy
2006-11-02 13:39:52 · answer #2 · answered by tiuliucci 6 · 0⤊ 0⤋
when you go over your credit limit, you will most likely will have extra fees applied. Your credit score will take a big hit as well. Something to keep in mind when using Credit cards. It's always a good idea to keep your limit at or around just half of the available balance. This shows that you are responsible with your finances. This practice is sure to boost up your credit score. I would try and get that balance knocked down as quick as possible!!
2006-11-02 13:43:21 · answer #3 · answered by storm22 1 · 0⤊ 0⤋
Over the limit fee and if you do this a few times, the account will be closed and placed into a collection agency. Also, when you end up over the limit, it reflects negatively on your credit report which will make it harder for you to get new lines of credit because creditors will not want to trust you.
The best thing to do is pay off all of your credit cards and not spend any money on them. If you HAVE to use them, only use 25% of the available limit if you want to maintain good credit.
2006-11-02 13:40:24 · answer #4 · answered by Brey 3 · 0⤊ 0⤋
The best thing that can happen is that they charge you an overlimit fee. The worst thing is that your credit may be cut off. If you are smart, you will pay all credit card bills IN FULL every month -- otherwise, the interest charges will eat your lunch.
2006-11-02 13:38:01 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You'll be charged an over credit limit fee - $35.00 usually.
2006-11-02 13:31:34 · answer #6 · answered by luckistrike 6 · 0⤊ 0⤋
they will charge you a late fee, and also raise your interest rate. I always tell myself that my limit is $100 less than what it really is.
2006-11-02 13:34:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
first your gonna get an over the limit charge around $25.00, then mabe your % rate will rise to the deafult rate.
2006-11-02 13:34:31 · answer #8 · answered by yunv03 2 · 0⤊ 0⤋
you will get charged, and they also might raise your interest rate too!
2006-11-02 13:32:11 · answer #9 · answered by Molly323 5 · 0⤊ 0⤋