Credit Card - over limit

Rupert_Bear

AngryDog wrote: »

I went over my limit with Egg yesterday on my credit card (I know, bad me ).

I went £20.13 over my limit. They advised me that I'll be charged £15 for this privilege.

When I went through to their Collections department, the very terse peron on the phone asked me why I went over my limit. Now a little annoyed by this, I replied with "well because you allowed me to".
Her reply was that they allow everyone to go over their limit, and that I should always make sure I have enough spare on my card to take into account the interest etc.
So I am being charged £15 because they didnt decline a payment on the card, even though it took me over my limit.

Am I the only one who thinks that this is a little unfair?

Dont blame others. Take ownership. You made the mistake not the cc.

anotheralias

Regardless of whether or not the OP is at fault for going over their limit, I thought that the OFT has said any charge over £12 is unfair.

Egg are charging £15 so the OP surely has a fair cause to complain to the office of fair trading about this.

speedbird1973

Egg are allowed £16 for some reason. It's in here somewhere

unidentified

Does going over your limit ever effect your credit worthiness?

I remember years ago the card would be blocked if it was to take you to or over the limit, but now it wouldn't as OP said.

CannyJock

unidentified wrote: »

Does going over your limit ever effect your credit worthiness?

I remember years ago the card would be blocked if it was to take you to or over the limit, but now it wouldn't as OP said.

It's a bit of a black mark for that individual lender as suggests problems in repaying. And while they like to lend money and charge fees and interest, they also like to be repaid

Hstorical limits and balances are visible on your credit report (Equifax make this more obvious that Experian) so it's easy for potential lenders to see that you've exceeded your limit if the over-limit balance is the balance on the account at the time they report to the CRA's.