What happens if I accidentally go over my credit limit?
What happens if I accidentally go over my credit limit?
If you go over your limit, you're charged an over-limit fee of up to $25 for the first instance and up to $35 for the second, according to the Consumer Financial Protection Bureau. Your credit score can also end up taking a hit.Apr 23, 2019
Is it OK to exceed my credit limit?
While spending over your credit limit may provide short-term relief, it can cause long-term financial issues, including fees, debt and damage to your credit score. You should avoid maxing out your card and spending anywhere near your credit limit. Best practice is to try to maintain a low credit utilization rate.
Can I use my credit card if I'm over my limit?
Yes, credit card issuers allow you to use your card for an amount above the credit limit, called the 'over limit' facility.Feb 8, 2020