(Briefly) exceeding Natwest credit card limit

maurice28

Due to a miscalculation, a payment I made yesterday on my Natwest credit card has meant that the balance today is £1.50 over my £500 credit limit. I have just made a payment online to bring this back under the credit limit, so by tomorrow it should be showing as back under the limit due to Faster Payments.

Does anyone know what kind of penalty I'll be looking at for this? A £12 over-the-limit fee? A marker on my credit report? A combination of the two?

Cycrow

possibly just an over the limit fee.

unlikly to appear on the credit file unless it remains over the limit on the next statement.

still, being over the limit slightly for a short time wont really effect the credit file even if it does appear on there.

if it was the first time it happen, u might be able to get the £12 fee as a goodwill

_Andy_

"Does anyone know what kind of penalty I'll be looking at for this? A £12 over-the-limit fee? A marker on my credit report? A combination of the two?"

Have you rung them and asked?

maurice28

Cycrow wrote: »

possibly just an over the limit fee.

unlikly to appear on the credit file unless it remains over the limit on the next statement.

still, being over the limit slightly for a short time wont really effect the credit file even if it does appear on there.

if it was the first time it happen, u might be able to get the £12 fee as a goodwill

Thanks, makes sense, cheers. In the eight years or so I've had the card this is the first over-the-limit occurance (as far as I can remember!)

maurice28

_Andy_ wrote: »

"Does anyone know what kind of penalty I'll be looking at for this? A £12 over-the-limit fee? A marker on my credit report? A combination of the two?"

Have you rung them and asked?

Thanks for your suggestion Andy. I did try to call this morning when I arrived at work but was on hold for a few minutes and had to hang up to attend to some work. Hence it was easier for me to post on the message board to see if anyone had an idea of what to expect, and thought it could even save me the time of phoning Natwest.

I know instead of posting on this message board I could have used the online Natwest chat but in the past, I haven't found it particularly speedy or helpful.

rabbit_burrow

Have you paid enough to get you well under the limit now? Once they add the over limit fee, if it makes you go over the limit again you will be charged an over limit fee again next month.

maurice28

rabbit_burrow wrote: »

Have you paid enough to get you well under the limit now? Once they add the over limit fee, if it makes you go over the limit again you will be charged an over limit fee again next month.

Thanks for flagging - yes, I paid enough to bring it back into credit and cover the over-the-limit fee, even if they took it tomorrow (which I'm guessing they don't?)

fozmcfc

With some cards, you only get charged if you are still over the limit on the actual statement day. So you might actually end up with no penalty at all.

Pretty sure if you do get one and it is your first time, they will probably waive the fee, particular for the amount over and how long it was over for.