Credit Card limit exceeded

Benorient

I have gone over my credit card limit by a few pouinds this month, on my balance it states my card has been suspended until payment is made, I have paid the money in today (recieved the statement today)

will this be picked up on my credit report as a defult?
The card doesnt usually get updated on my experian until the 5th of the month

thanks in advance

National_Debtline

Hi Benorient

This wouldn't be classed as a "default" in the strictest sense - that would be reserved until the point at which your relationship with the lender had broken down altogether.

If you are able to bring it back within the authorised limit within this same payment period, the lender may well choose not to report the breach. It could have rejected the transaction that took you over this limit in the first place, but obviously chose not to do so.

Dennis
@natdebtline

[Deleted User]

National_Debtline wrote: »

It could have rejected the transaction that took you over this limit in the first place, but obviously chose not to do so.

Or was not able to, in the case of offline transactions?

Cinderellie74

More likely than not it wouldn't be considered default until you had completely ended your relationship with them and stopped making payments all together. At least from what I know on this subject. If you are worried there may be some negative associations with your account try calling the company and talking to the manager or someone there. They should be able to help you and set your mind at ease. Good luck.

mcpitman

Morning, I have experienced this in my "debt days" about 10 years ago.

The CC provider is unlikely to issue a default, however on your credit file it will be easy to spot; it will be reported as the statement balance against credit limit in line with usual reporting.

For example credit limit of £1000 balance will be reported at £1003.