I am in a situation where I have to overdraw my credit card, I have two a capital one plat card and a chase card. There both over the limit by like 30 dollars its a new billing cycle will i be able to go over on either one of them ?
2007-02-12 12:42:12 · 14 answers · asked by cheerupemokid875 2 in Business & Finance ➔ Credit
you do not HAVE to overdraw your card, you CHOOSE to overdraw your card and thus will be charged accordinly by your credit card companies, you obviously do not have a handle on credit
2007-02-12 13:38:24 · answer #1 · answered by Anonymous · 0⤊ 6⤋
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RE:
Question about overdrawing a credit card?
I am in a situation where I have to overdraw my credit card, I have two a capital one plat card and a chase card. There both over the limit by like 30 dollars its a new billing cycle will i be able to go over on either one of them ?
2015-08-10 21:36:47 · answer #2 · answered by Wit 1 · 0⤊ 0⤋
NO and not only that, if they WERE over the limit by $30.00 last billing cycle it is WAAAAAAY more now by the time they add on interest and over the limit fees.
Also, when you go to try to use it again, it will be declined (the capital one will anyway).
I dont know about the other one.
Every month you are over the limit, that fee will be on your card
so lets say your limit is $300 and you took it to $330. New billing cycle your balance is now $380 (original balance + interest + $35.00 over the limit fees)
So then you pay the minimum ($40?)
now your balance is over the limit again next month so you owe another $35.00 in over the limit fees again
and NONE of your balance has been paid
so now you owe $380 again!
(Original balance ($380 - minimum payment + over the limit fees again + your interest)
This is all assuming that you have a good interest rate.
If you dont, you could find yourself looking at $100 increase in your bill if your interest is higher and your balance is more than $2k.
See if you can do your taxes (DO NOT go to H & R BLOCK or any of the other places, just do it yourself and keep ALL the money due you) and put the refund towards your credit card bill.
Call bank of america.
They gave me 12 months of zero interest. The free balance transfer was a nice touch.
1800 732 9194. They gave me an answer in 3 days
GOOD LUCK!
2007-02-12 12:53:19 · answer #3 · answered by lisa s 6 · 0⤊ 0⤋
They will either allow you to go over your limit and charge you the 'over the limit fee' or they will decline the transaction. You can call them and ask for a credit limit increase. But, if you are constantly up to your limit and have just been making minimum payments, the chances are not great that you will get an increase.
2007-02-12 12:50:22 · answer #4 · answered by Anonymous · 2⤊ 0⤋
You can call and see if they will allow you to go over the limit. Some cards actually give you a short term increase and they allow you to use it within a certain time frame, but they will charge you over the limit fees. All you have to do is give them a call. It's better for you to call than be embarrassed and try to use it without notifying them, because if you don't, they won't let you go over.
2007-02-12 13:07:33 · answer #5 · answered by Truth Hurts 6 · 0⤊ 0⤋
First, they want their money. If you are late by thirty dollars, they have people working on it to get it. To do this, they try to get money. Every time they try they charge you a fee. your bank also charges you a fee. They dont care that your ballence is zero. A fourty dollar overdrawn check can be three hundred dollars by the time they do all that. I am serious.
Borrow the money from friends if you have to to pay bank off. I dont know what you need money for, but if you have to eat raman for a month you can do it. I have.
Good luck.
2007-02-12 12:56:22 · answer #6 · answered by Miss Johny 3 · 0⤊ 0⤋
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RE :Question about overdrawing a credit card?
I am in a situation where I have to overdraw my credit card, I have two a capital one plat card and a chase card. There both over the limit by like 30 dollars its a new billing cycle will i be able to go over on either one of them ?
2 following 13 answers
2017-04-05 02:42:53 · answer #7 · answered by Beverly 6 · 0⤊ 0⤋
Sure they love it whenever you go over. They charge you 39 each time you do it, you have to pay off the overlimit, plus the 39, plus your normal payment, and then your interest also goes up because you couldn't control your credit and went over the limit. They get you coming and going.
2007-02-12 12:47:36 · answer #8 · answered by ttpawpaw 7 · 1⤊ 0⤋
no, the transaction will be declined by the credit limit that the company has set for your account. If you transfer a payment to them to allow the credit needed after two days to post to your account the transaction will be accepted. You cannot be overdrawn on a credit card, only on a bank account.
2007-02-12 12:48:17 · answer #9 · answered by cubcowboysgirl 5 · 1⤊ 0⤋
you will be charged extra fees. They may put a hold on the cards until you get the balance down.
2007-02-12 12:50:53 · answer #10 · answered by Dizney 5 · 1⤊ 0⤋