Exceeding Credit Card Limit
Superhoopza
Posts: 452 Forumite
Hi all,
Somehow I've exceeded my credit limit. I longed onto my account and seen this and quickly made a payment to rectify it. I got charged with the £12 fee as expected but will this have a detrimental effect on my credit rating, likelihood of getting an increase in my CC limit or anything else. It is the first (and hopefully last) time it's happened.
Thanks for the advice
P.s. any comments about me being stupid to not check my available balance aren't useful so keep them to yourself. We're here to help, not be snidy
Somehow I've exceeded my credit limit. I longed onto my account and seen this and quickly made a payment to rectify it. I got charged with the £12 fee as expected but will this have a detrimental effect on my credit rating, likelihood of getting an increase in my CC limit or anything else. It is the first (and hopefully last) time it's happened.
Thanks for the advice
P.s. any comments about me being stupid to not check my available balance aren't useful so keep them to yourself. We're here to help, not be snidy
0
Comments
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If it appears on your credit files, lenders will take their own view on it.
It's more likely to have a short term impact with your current card provider0 -
It could be worth contacting them and asking them to remove it - you dealt with it as soon as you noticed it etc.Signature removed for peace of mind0
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I've done the same. It's easy done and it's how these card companies make money from us!
In my case I quickly paid money in but it still showed on my credit file as a negative.
The only way to know is to check your credit files. I've had loans that haven't showed up at all. Not every lender reports to every reference agency.
Getting close to the limit is a negative in itself. I know in my case, the fact I went over meant I wasn't eligible for any increases in credit limit.
I got the card to try and improve my credit score but ended up making it worse!0 -
You don't get a card to improve your score.
You get it to use, pay off in full each month, then build a credit history0 -
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So should I contact them ASAP about it or wait a month or two to see if it gets reported on my credit files? I'm worried leaving it that long will mean it difficult to get removed from my file later on?0
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I'm not too fussed about a credit limit increase as I'm a couple of months away to being able to make a serious dent into it anyway so I don't need further credit. Just I don't want it to impact my credit file which I've been working hard to improve the past few months.0
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beckysheffield wrote: »Being subservent to the bankers once again.
No - how did you come to that conclusion?0 -
Always make contact about a problem or an issue you'd like resolved as soon as you can. Far easier to deal with!Superhoop91 wrote: »So should I contact them ASAP about it or wait a month or two to see if it gets reported on my credit files? I'm worried leaving it that long will mean it difficult to get removed from my file later on?Signature removed for peace of mind0
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