Does anybody have a capital one credit card?

Question

I just got a capital one credit card and would like to what happens if you exceed your credit limit on this card.

oh and how much they charge you for going over

Answer 1

I have a Capital One credit card and they have been great to me.

I pay mine off in full every month so there is no interest.

As far as fees for going over your limit or being late, all of this is spelled out in the terms and conditions.

Answer 2

Yes, I have two Capital One cards and have had nothing but a good experience with them, because I pay my bill on time and always more than the minimum and never charge more than about thirty to thirty five percent of my available credit. By doing this I am assured of getting the best credit score. But, if you don't pay them on time and if you go over your limit, Capital One is probably the worse credit card to have. The penalties are severe and besides ruining your credit you will have a hard time getting any positive results from dealing with them, until the card is paid in full, or well below the cards limit. Exceeding your limit on any card is absolutely a credit death sentence, so try and resolve it immediately.

Answer 3

They don't call them "Crapitol One" for nothing. If you charge over the limit you will be charged an over-the limit fee monthly until your are back under your credit line (most cards are this way).
Also, if you are late on a payment you will go into what is called "universal default." This means all of your credit cards will have the interest rate increased.(most cards are now this way to).

Capitol One is like any other credit card; pay on time and manage your credit responsibly...no worries.

However, one negative issue with Capitol One is that they don't report you credit line on the credit report. In other words, say you have a $2000 credit line and you only spend $100. Your credit line will be reflected as $100 on your credit reports for this card. This reduces your debt to credit ratio on your credit report because it looks like your maxed out.

Answer 4

I think you should cancel that card. You definitely do not have the right mindset to properly handle a credit card.

Any credit card will charge you a fee for going overlimit. They all charge for late fees too.

Capital One is nortorious for jacking up the credit rate at the drop of a hat. Go overlimit or pay late more than once and you go to the default rate. They also will jack your interest up if you pay someone else late or your credit score drops.

If you want to stay out of trouble with that credit card, only charge what you can afford to pay in full each month.

Answer 5

I used to have a capital one card, but I had such horrible experience with their customer service that I cancelled it. I had a large balance for a number of years and once it was paid off they wanted to charge me a monthly fee to have the card. Based on my experience, I would say don't go over the limit, I bet they will charge you. Check their website and maybe there is a FAQ section.

Answer 6

These things are spelled out in the user agreement you are suppose to READ before you apply. You know, that box you have to check that says "I have read the user agreement."

As with all credit card companies, they will charge you an over the limit fee (which is spelled out in your agreement) and may raise your interest rate (which is spelled out in your agreement.