If i go over my credit card limit (800) to 1200. What will happen?

Question

this is also my first time and i do not have to pay apr yet

Answer 1

You have some good answers, but not the whole picture. Yes, over-limit fees apply. Yes, interest can go up. But what's the worst thing isn't those. It's called a "forced credit line increase". It will affect your FICO score a lot! And, then your credit card can be cancelled and you will not get another one due to a lower FICO score. If you need money that bad, then borrow it and pay a huge interest. That will even help your FICO in the long run. And, the amount isn't that much to begin with. One other option is to "ask" your credit card company to raise you limit. They may elect to do that if you've been a good customer.

Answer 2

I'd be surprised if you'd be allowed to do that. When a vendor runs your card for credit approval, the credit approval service checks to see if you have enough credit for the transaction. If you don't have enough reserve, the transaction is denied.

Assuming, for some reason, the transaction that puts you over your credit is allowed, you will have earned yourself a late fee, typically around $39, and nice "ding" on your credit record.

You'll be required to bring your balance back under your limit by the next statement, which means you'll have to pay the monthly payment, the interest accumulated, plus the late fee.

How about you just pay cash for this purchase, instead?

Answer 3

Usually, when your credit card company allows you to exceed your limit, the first bill you receive after the fact, will include your overage plus your minimum payment. Failure to pay the amount requested by your card company may result in your account being reported as "past due", which could have an adverse effect on your credit score.

Answer 4

You will get charged big, each company have a different rate for over limit charge. I would call the CC company first, nobody here can effectively answer that question accurately. Look also at the terms and conditions that came with the CC.

Answer 5

You will be charged an extra fee for going over your limit, you need to read the fine print that came with your credit card And likely if it is not totally paid, including your regular monthly fee, they will charge you for overage again next month.

Answer 6

They can:
Deny the charge you make
Charge an overlimit fee
Raise your interest rate
Reduce your credit limit
Close your account

When the overage is reported to your credit reports some, or all, of your other creditors may do the same.

Answer 7

You will probably have to pay the entire amount over the limit and an over-limit fee on top of that. OUCH!

Answer 8

Either they won't let you (they will deny the carges).

Or, they will allow it and possible charge you an "over the limit" fee.

They may also raise your interest rate, but I doubt it if you make your payments on time.

Answer 9

they will charge you extra intrest for the amount over your credit limit until it is brought below

Answer 10

your purchase may be rejected and/or you will have over the limit fees, I don't recommend this!