Natwest overlimit fee.

brendanb581

I had maxed out my credit card at 250 (im new to credit cards)..

The balance was like 249 or something and then i got charged interest which was like £1.77. This made the balance go over 250 which caused me to get the overlimit fee of £12.

When do i have to pay this back by? Will i keep getting over limit fee's if i leave it.. or can i continue to make normal monthly payments without needing to worry?

Ta.

ElkyElky

Make a payment to the credit card immediately to bring it well below the limit. The longer you leave it, the worse it'll get for you. They will keep charging you £12 each month you are over the limit.

Going over the limit, or missing payments will have negative effects on your credit report and if you do it often, they may cancel your credit card.

It's best to not max out your card and always stay much below the limit.

Take a look at the credit card pages on this website to help you understand better how they work, and how important your credit file is. It seems like you don't know very much about how it all works so it's absolutely vital you get clued up now before you run in to some serious trouble.

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

http://www.moneysavingexpert.com/cards/minimum-repayments-credit-card

opinions4u

You need to pay the minimum balance demanded as a matter of course. This will usually include any additional fees.

But on this occaison I would pay £20ish to cover the fee and any other accruing interest.

But you also need to apply some personal thought to this too. Your statement estimates your interest charge. You know what you're paying and you know what, if anything, you're spending. So the situation you outline above is avoidable.

Stop using the card for a bit, pay well above the minimum payment and bring the debt down faster.