Interest took me over limit.

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JaneCB
JaneCB Posts: 1 Newbie
in Credit file & ratings
I have an aqua card and went over the limit when they applied the monthly interest by approx £20. They texted me when my statement was generated to inform me that if I made a payment they would refund the charge they had applied. I made a payment straight away (within minutes via online banking) and said charge, was refunded. I now see that they have marked my credit file to say that I have gone over-limit and this is showing as a negative on my file. I haven’t missed any payments in 3 years and it seems a little unfair but obviously they can do it and it’s my own fault. I was a little distracted at the time with my husband in hospital with cancer and money was tight so I was near my limit. Not an excuse though and I now make sure that it’s not an issue. Just want to know how long will this will be registered on my file? Thanks.

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    6 years.

    However, its impact reduces over time.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    Since they have waived the charge, you may be able to persuade them to remove the credit-file reference, particularly if your limit was was exceeded entirely due to the charge and not due to an overspend. You've nothing to lose by asking.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    One late payment is not the end of the world.

    In the “book of things to avoid” it’s pretty low down on the list of mistermeanurs to be honest, a default would have a far greater impact on your credit worthiness.

    Most creditors when making lending decisions, only look at your most recent credit history, typically the last 6 months to a year, so next year at this time, all will be forgiven.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • binaryuniverse
    binaryuniverse Posts: 906 Forumite
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    Unless you're applying for a mortgage there's little to worry about.
    If anything creditors like the odd missed payment/going over the limit. They can make money from you that way.
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