Missed payments or over credit limit??

moatmeister

Going to be short of  cash in December. In order to guarantee paying my mortgage I will need to potentially miss a couple of credit card payments or go over limit. Which would have the least effect on my credit report?

marcia_

moatmeister said:

Going to be short of  cash in December. In order to guarantee paying my mortgage I will need to potentially miss a couple of credit card payments or go over limit. Which would have the least effect on my credit report?

 Try and get an increase in your credit limit before doing so just ring them up unless you can request via their app or online 

fatbelly

Are things really so tight that you can afford the mortgage but not the minimum payment on the cards?

Are there other things that you could delay paying for a month? For example what is the situation with elec, water, gas? How much council tax do you have remaining for the financial year?

moatmeister

@fatbelly
Unfortunately at the moment yes, but not long term. I just need to minimise the damage. Im just thinking paying then going overlimit must be better than not paying at all.  

DullGreyGuy

moatmeister said:

@fatbelly
Unfortunately at the moment yes, but not long term. I just need to minimise the damage. Im just thinking paying then going overlimit must be better than not paying at all.  

Depends if they allow you, card companies are much hotter at declining transactions rather than allowing you to go over the limit and almost all transactions are online these days. 

Both will show markers on your file that last for 6 years. It will depend on each future creditor's own views on which is the worst sin. Both will have less impact the longer ago it was.