Exceeding your credit limit

KieranB

Hello Guys!

I accidently went over the credit limit on my card by a few pounds (plus the £12 ovelimit fee). Obviously i have no complaints, my fault, bad management and i will pay their fee hapily.

I do always pay above the minimum each month, always on time too. Never missed a single payment

After my monthly payment it went back under the limit and is still currently under the limit. Will my minor lapse of concentration be on my current credit history forever?

Nigella_2

Anything on your credit report can be there for up to six years unless it is wrong when you can ask for a correction.

KieranB

Ok, but from credit reports i have seen. It shows if all payments are up to date (or how many months in arrears you are), the current amount of debt, credit limit..

Nothing about once going about your limit. Therefore i wondered if any other firms that can do credit checks would see it?

Nigella_2

Talk your way out of a fee
Sometimes, credit card companies can be very understanding and can, at their discretion, choose to let you off the penalty fee and the black mark on your credit report.
This will only usually be the case if it is your first-time offence. In fact, on some occasions, your credit card company may contact you (normally by telephone) to alert you to the unusual activity on your account if it is very unusual for you to go over your credit limit. At the end of the day, it is always worth pleading your case and trying to come to some sort of agreement with the card company, especially if it is very unlike you to incur a penalty fee.

cifpower

I have accidentally went over my limit (I was near to the limit and the interest pushed me over) and it hasn't been recorded on my credit file. Just FYI.

fairydiamond

I was under the impression only missing payments was recorded on your file, not going over your limit.

cifpower

Depending on when the CC company reports to the credit reference agencies an overlimit balance may be recorded.

jenhugs

An over limit balance may be recorded as the last poster has stated depending on the time frame. The credit file only shows a 12 month period therefore will drop off eventually.

Regarding the effect on your credit file it will depend on your over all profile. If you have other bad credit then this will be taken into consideration along with this. If you have perfect credit it may be viewed differently. :j