Going over the credit limit - can it affect your credit rating?

polkasquares

I get the sense that most people choose to use their credit card rather than their debit card to do their online shopping and sites such as Amazon and eBay allows you to have your card details saved with them to save you the hassle of having to type out the long card number digits every time you purchase something from the site. However, if the website gets hacked or someone is able to guess your password and they steal your card number to make various expensive purchases and it goes over the credit limit and you don't immediately notice it, does it damage your credit rating?

[Deleted User]

Lenders will report your balance and whether you are overlimit and assess you on that 

If it's due to fraud and you never check your statements, that could be a problem. But most people would report the fraud and all would be well.

Sncjw

Don't you need to put the security number in the card before the purchase goes throigh. 

MalMonroe

Sncjw said:

Don't you need to put the security number in the card before the purchase goes throigh. 

No. Not after you have initially registered with amazon and your card is stored with them. So it is possible for people to hack your account and do as the OP says.

That's why it's always best to check your bank statements and amazon order lists regularly. 

p3ncilsharpener

MalMonroe said:

Sncjw said:

Don't you need to put the security number in the card before the purchase goes throigh. 

No. Not after you have initially registered with amazon and your card is stored with them. So it is possible for people to hack your account and do as the OP says.

That's why it's always best to check your bank statements and amazon order lists regularly. 

Amazon don't use them anyway, not a great example to use.

kaMelo

polkasquares said:

I get the sense that most people choose to use their credit card rather than their debit card to do their online shopping and sites such as Amazon and eBay allows you to have your card details saved with them to save you the hassle of having to type out the long card number digits every time you purchase something from the site. However, if the website gets hacked or someone is able to guess your password and they steal your card number to make various expensive purchases and it goes over the credit limit and you don't immediately notice it, does it damage your credit rating?

I have to say it's a rather strange question to ask as someone's credit rating being impacted due to fraud would not necessarily be at the forefront of their minds. I would imagine most people would be more concerned with sorting out any fraud [activity on their card, in doing so their credit rating would take care of itself.