Question : How does going over your credit limit affect your credit card?
I went over my credit limit because of a returned check, but quickly paid the (full) balance for the bill. This is my first credit card, and I am hoping to get my APR lowered and credit line raised. How will going over my credit limit/bouncing a check affect my chances of getting a lower APR and higher limit?Thanks
- asked by Nichole
All Answers:
Answer #1
umm depends on the cc
- answered by Brandie C
Answer #2
geez, I only know how being late affects yourcredit card, you'll have to pay a penalty feethat's all I can think of.
- answered by Super F1 Man
Answer #3
please answer:
- answered by chuck750
Answer #4
If you paid it quick thats a good start. Probablya one time offense will not effect your creditmuch if at all. The only way your credit would beeffected by a check returned is it was turned intoa credit bearu that put it on your credit score. If you paid it right away you are fine.
- answered by Wilt
Answer #5
Every credit card company handles this different. Just call the company and ask them what theirpolicy is on your situation - then keep youraccount up to date.
- answered by denverlmc
Answer #6
Most credit card companies have a penalty forbeing late on a payment. Once you mess up, theyautomatically raise your rate. The way it affectsyour credit is through your credit score. Youwant your score to remain average. Remember yourscore is what the banks look for.
- answered by venpco77
Answer #7
Going over your limit usually involves a feedepending on how much you went over. If you paidit off promptly and this is your first time itwould be a good time now to see if your limit canbe raised if it is within reason in relationshipto your income. Just tell them you need a higherlimit. On the other hand if you wait and goingover becomes a habit a bank will be reluctant toraise your limit.
- answered by LIONDANCER
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