Over limit query

nogoodwithmoney11111

HI all,

My wife and I have a cashback card that we use for purchases and pay off by DD each month (wife is second cardholder) . It has a low limit (1500) but that does us fine and we also like to keep it that way to minimise any cnp fraud etc.. (despite the CC company keeping trying to increase the limit!)

Anyway - we both made large purchases (planned i must add - washing machine and car insurance) that took us over the limit and once i realised this i paid an amoount straight away - we were over the limit for about 3 working days max. Completely our fault I know and I am not disputing the facts that we did go over the limit - just bad timing on our part. We have been charged the £12 which is fair enough (well, fairness of the charge is a debate for another day but it is what it is...), but slightly worried about what will this do to our credit history?

Anyone know what impact this will have on our credit history?

KingElvis

It won't affect it on an overall basis (I don't think) but it may do with the internal rating of the card issuer....

[Deleted User]

Agree with the King. When your overall balances and limits are combined, it's unlikely to show (unless you're maxed on every other card). But the card issuer might have scribbled "Tut tut" on your file, potentially affecting future rate changes and limits.

nogoodwithmoney11111

Thanks for the replies. We have no debt other than the cc that we pay off. When i look at credit expert there are a series of green 0's and thats all i can see (even for other cards we had in the past that were always paid on time.) Not being late i would still expect a green zero for March and still a "satisfactory" as far as that goes.

Just wondered where an over limit transgression would be recorded on there.

Not too bothered about what the cc company thinks as dont need offers or limit increases - we are the ones keeping it down! So if thats all that affects us then should be fine.

Still annoyed about the £12 though - just shows you how responsible with credit you have to be!

cheers.

KingElvis

They may waive that charge if you've been a good customer for yonks, ring them and sound it out?

I would for £12