gone over credit limit

kez1978

right i have a barclaycard credit card, i have gone over my credit card limit, i didnt realise this until i got my statement in, i thought my card would be declined if i had reached my credit limit, but instead they let me spend £300 over and now charging me ridiculous charges, i have tried speaking to them to see if they can help me, but basically saying tough, they wont increase my limit to just above what i owe, i know i should have been a bit more careful but i honestly thought they would let me know i had gone over, i cant transfer my balance over either as i have tried this and no other company will accept me, im assuming this is because i have gone over my limit with this card, as i have had no trouble in the past doing this, has anyone got any suggestions of what i can do, i cant afford to pay all these charges, im not getting anywhere with barclaycard they are so rude and arrogant.

CLAPTON

how much are the charges
how much are you over the limit
what do you earn
what do you spend
what did you spend the 300 on? can you sell it to raise some money

KingElvis

wow 300 over is a fair chunk....didn't know you could go that far over

kez1978

my charges are around £35 a month altogether plus the interest on top of that, and i spent the card on shopping/childrens schoolwear so i cant sell anything to make any money, i get child tax credit of £160 a week as i have 4 children plus child benefit of £60

Eonel

That's a tough situation to find yourself in. My only advice is to try to borrow from friends and family to get that credit card back under the limit.

If you can quickly get it back under the limit you can continue to use it as a tool in your finances. If you tell the credit card company that you are unable to pay they will close your account.

Do not borrow from payday loans company as that is a very very slippery and expensive slope.

If you exhaust all options and simply can't pay the credit card company then you must post on the Debt Free Wannabe forum here. They will give you good advice on getting a debt management charity to help you manage your situation & creditors.

lizzywig

Will they freeze the card for you and thus the charges?

If you've gone over by £300 + £35 x 1 charge that's £335 to pay (+ interest), is that right? Do you have more than one charge? If you can clear that excess then you might be able to transfer the remaining balance to a 0% interest card. Would your bank give you an overdraft for the amount you have overspent by? Not ideal but then if you can get a higher limit on the 0% card you could also transfer the overdraft.