Capital one classic card - over limit?

makeupmonster93

Hi, I have a capital one classic credit card with a £200 limit. I'm just wondering what would happen if I needed to go £100 or maybe £200 over my limit for an emergency but could still pay it back before my next direct debit comes out? Also would this have an effect on my credit rating?

loony2012

makeupmonster93 wrote: »

Hi, I have a capital one classic credit card with a £200 limit. I'm just wondering what would happen if I needed to go £100 or maybe £200 over my limit for an emergency but could still pay it back before my next direct debit comes out? Also would this have an effect on my credit rating?

Would they even allow you to go over limit? I thought you would more than likely get a declined authorisation then allowing it?

makeupmonster93

I'm pretty sure they do allow it, I know of people that have gone over before

[Deleted User]

They'll probably allow it, and it would almost certainly cost you an overlimt fee and maybe a marker on your file. But maybe not, if at due payment due date you were under again. Depends on when they report to the CRAs.

meerkat1980

Hi makeupmonster...

The fact you have a Classic card with a £200 limit suggests your credit rating is not great (just like mine! )

It's therefore not worth taking the risk - as you can't be absolutely certain it won't get reported.

Gromitt

Going £200 over a £200 limit is likely to set alarm bells ringing at Capital one, possibly suspending your account and demanding payment within a very short space of time.

If your limit was £2000 and you went over by £200, you'd probably just get a £12 charge for being overlimit (as it would be 10% over compared to 100%)

boogiemaster

It won't effect your credit rating but might screw up any chances of getting an increase in the future as it says not to go over your limit.

sharpy2010

Its unlikely you'd even be able to do it these days, without going to a dodgy 3rd world country where they use the old "clunk and card image on a bit of paper" type system!

balmk

Have you asked them for a credit limit increase?

SnowTiger

balmk wrote: »

Have you asked them for a credit limit increase?

Generally, Capital One don't increase credit limits on request. http://www.capitalone.co.uk/support/faqs-using-credit-card.jsf:

Can I request a credit limit increase?

Our contact centre are unable to authorise a credit limit increase over the phone.

We review each account on an individual basis and as you become eligible for a credit limit increase we will write to you and let you know.

DarkFallout

makeupmonster93 wrote: »

Hi, I have a capital one classic credit card with a £200 limit. I'm just wondering what would happen if I needed to go £100 or maybe £200 over my limit for an emergency but could still pay it back before my next direct debit comes out? Also would this have an effect on my credit rating?

not worthy doing it, you will be charged at least 12 pounds and this will have negative effect on your relationship with them ...