interest takes me over credit limit

tomich

I checked my available credit online then made a purchase which brought me just below my credit limit, then at the end of the month when the interest was applied this took the total to just over my limit and have been charged £12 . Can they do this? tell me I have so much money to spend then penalise me because of interest applied it seems unfair.

normanmark

Yep they're allowed to do this. What i'd recommend is getting a payment to the card as soon as possible to bring it back under the limit.

jonesMUFCforever

What works for me is to leave the last 5% or so of my limit so I never get THAT close.
Previous poster is right - get a payment in as soon as possible.

tomich

Thanks to the previous two posters, will take your advice and pay in some money tomorrow. I thought I was doing the right thing staying under the limit. Took the shine off my purchase but a lesson well learned

exel1966

tomich wrote: »

I checked my available credit online then made a purchase which brought me just below my credit limit, then at the end of the month when the interest was applied this took the total to just over my limit and have been charged £12 . Can they do this? tell me I have so much money to spend then penalise me because of interest applied it seems unfair.

As above, but additionally if this is a first time 'offence' you should be able to get the £12 refunded by asking very apologetically.

Innocent_Guy

Beaware because these little hickups can prevent you getting CL increases if you require them....

never-in-doubt

Innocent_Guy wrote: »

Beaware because these little hickups can prevent you getting CL increases if you require them....

if it is behavioural scored then yes, otherwise when you request one they do a financial review (i.e. credit score/search).......

Innocent_Guy

never-in-doubt wrote: »

if it is behavioural scored then yes, otherwise when you request one they do a financial review (i.e. credit score/search).......

Score will still have an impact even if they do search

PROLIANT

Pay at least 1.5 times your current payment to bring this account back in order - otherwise you will find yourself on a downward spiral in to a non-recoverable situation, destroying your credit rating at the same time.
As Jones stated in his post, always leave a little fat on your available credit to take in to account interest charges et al.

clio

whats the difference between a behavioural scored & a credit score.
Surley both get a search foot print left on your face - oops i ment file

exel1966

clio wrote: »

whats the difference between a behavioural scored & a credit score.
Surley both get a search foot print left on your face - oops i ment file

Behavioural scoring is quite simply internal scoring (as banks use) and is not linked to your financial credit rating nor reported to CRA's.