Overlimit Fee

Jaffa_2

I went over my limit on my credit card and on my previous statement my balance was £2645.33 (credit limit £2600). My minimum payment was £59.00 and if I paid this my interest would be £43.76, so I paid £90 thinking this would take me below my limit, but I have just received a new statement and my balance is now £2611.09 and I have again received an overlimit fee of £12.00 (included in the balance).

Please can someone tell me what I need to pay so I don't receive the overlimit fee.

Thanks

NickX

You really did cut this very fine.

You were over limit by £45.33 and you estimated interest was £43.76, making a total overlimit of £89.09.

Then I guess they applied the £12 overlimit fee, bringing the total overlimit of £101.09.

You then paid £90, leaving you still £11.09 overlimit, and your balance of £2611.09.

You really need to pay :

Amount Overlimit + Estimated Interest + Overlimit Charges (or other Charges) + A bit extra to ensure you are definitely below limit

Therefore in the original case you should have paid :

£45.33 + £43.76 + £12 + £10 (extra £10 as safeguard) = £111.09

On the new statement go for :

£11.09 + Estimated Interest + £12 + £22

I've added £22 as a safeguard just incase they actually add another £12 charge within the statement period.

I know, its difficult, they don't make life easy for you. Good Luck