Over credit limit

Glowhallow

Hi everyone,

This morning I paid off my credit card balance so that I could use it to purchase something. However, I have logged onto my account and it's saying I have gone over my credit limit. The balance payment went through successfully but isn't showing up in my account but the purchase payment is.

I'm only over the limit by 76p but I am worried that I will be charged or this or it will impact my credit score even though I cleared the balance before making the purchase.

Can anyone offer any advice on this? Shall I call the company to explain and ask them to waive the fee and leave it off my report?

I've had the card for 8 months and this is the first time this has happened, I've always paid it off in full every month.

Thank you!

[Deleted User]

Clear the overlimit amount. If you're lucky and the timings are in your favour, it may not get reported.

If you get an overlimit fee, it may be worth phoning up to beg forgiveness.

Ignore your credit score. You don't have one.

Glowhallow

Thanks for your reply, I already cleared my balance before I made the purchase (this was so I didn't go over my limit) but the payment for the balance hasn't yet shown in my account. The payment for the purchase has though and that's why its saying I am over the limit.

eskbanker

Payments to the account won't necessarily be processed in real time, so paying in this morning and expecting that to be applied immediately was ambitious - what do the Ts & Cs of the card say about timescales for payments to be applied?

Willing2Learn

Glowhallow wrote: »

Thanks for your reply, I already cleared my balance before I made the purchase (this was so I didn't go over my limit) but the payment for the balance hasn't yet shown in my account. The payment for the purchase has though and that's why its saying I am over the limit.

When you make a payment to a credit card, it will usually go by Faster Payment, meaning it should arrive in your cc account within 2 hours or at least the same day. But this is only during the week Mon-Fri. At the weekend, or bank holidays, the payment may not arrive 'til the next working day. So, if you wanted to make a purchase this morning, you would have had to make the full balance payment on the last working day (Friday).

Hope that makes sense

molerat

Willing2Learn wrote: »

When you make a payment to a credit card, it will usually go by Faster Payment, meaning it should arrive in your cc account within 2 hours or at least the same day.

It should arrive in the recipient's (credit card provider's) bank account in that timesacle. How long it takes them to then allocate that payment to the card account is down to their individual terms. Some of my cards show the payment immediately no matter what day of the week, others it is next day.

sourcrates

Glowhallow wrote: »

Can anyone offer any advice on this? Shall I call the company to explain and ask them to waive the fee and leave it off my report?

Its not the end of the world, the information shown in "your account" is not always accurate or up to date.


If you are charged its £12, which you may be able to get refunded.


One swallow does not make a summer, and one over limit charge wont kill you, enjoy the sunshine today.