Exceeded credit card limit – impacts?

Oxid8uk

I have a joint Tesco credit card with my OH. Last month we accidently went over our credit limit by £100. We were charged an over limit fee which they class under their ‘Default Charges’.

As soon as I realised (3 days later) I made a payment to the account to bring it back under the limit. It took Tesco a further 10 days to send a letter to us informing that we had exceeded the limit and to make a payment!

My question is, how will this impact on our credit files? Will it go down as a default?

Thanks in advance.

grumbler

Definitely it's not a 'default'. Maybe something far less serious.

Eydon

There is no such thing as a joint credit card. You can have additional cardholders on a credit card account, but the account is the sole responsibility of the main account holder.

As such, any defaults, missed payments, late payments and the like will be recorded against the account holder's credit file.

Having said that, you went over limit for a couple of days and rectified it as soon as you noticed. If this is a first offence I will be surprised if they report it to the credit reference agency.

Oxid8uk

Thanks Eydon. It was the first (and will be the last) time it happened. I have always had a perfect credit file so wasn’t amused to find my OH had overspent on the card (albeit accidently)!

Fingers crossed Tesco don’t report it.