I just reached 30 dollars over the limit in my credit card, but the transaction still pending, and immediately I made a payment on the over limit amout but as well was not posted yet. By Monday will my credti be over limit? Even thought I made a payment on the same day?
2007-01-19 10:32:57 · 7 answers · asked by Mary 1 in Business & Finance ➔ Credit
You will be over the limit. The debits happen before the credits.
2007-01-19 12:09:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It depends. If you called the automated card line and made the payment, it will probably post BEFORE the vendor is able to post the transaction.
However keep in mind that you can also go overlimit (and get charged fees!) just becuase its the end of a billing cycle and they tack on the interest. It's best to keep a nice buffer.
And for credit scoring purposes-- you're supposed to keep under 25-30% of your overall limit (averaged over all your cards) so you're hurting your score to carry such a high balance.
2007-01-19 10:58:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends on how they do the two transactions. If both are pending and you are luck than they will do your payment first than do the credit. Unluckily from what I have read and heard, they usually do it in chronological order so you will be over your limit first than make a payment. If they are being nice they may wave the overdraft fee but usually you have to call and complain for them to do it.
2007-01-19 12:16:26 · answer #3 · answered by andy 7 · 1⤊ 0⤋
If you have had a good track record in the past, call the credit card company and tell them what happened. They should waive any possible fees and increase your credit limit for you.
For credit score purposes, it helps to leave a lot of available credit each month on your cards. If you regularly approach the limit, that hurts your score!
2007-01-19 10:41:14 · answer #4 · answered by MR MONEY 3 · 0⤊ 0⤋
It depends on how the transactions post to your account. You may be ok if your deposit posts first. I'd call the credit card company and explain what happened. Be honest and they might waive the overlimit fee if there is one.
2007-01-19 10:40:24 · answer #5 · answered by aj1020 2 · 0⤊ 0⤋
Hopefully not try and keep below your limit not a good rating when u get over your limit
2007-01-19 10:40:34 · answer #6 · answered by nitenurse 5 · 0⤊ 0⤋
It maybe but it should not affect your credit since you were not past due or delinquent in your payment.
2007-01-22 07:06:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋