Over my credit limit, how long until off my credit report???

HoneyBunny79 · 8 January 2018 at 3:15PM

Any advice would be much appreciated please.

I’ve struggled financially while on my maternity leave and I have now gone back to work as we can’t manage any longer.

I have twice exceeded my credit limit on my credit card, due to the added interest charges. I’ve never missed a payment.

Clear score have just advised me that this has been notified to them and will now appear on my credit score.

I have never had anything like this before and I understand that that this is not good. How long is this going to affect me for? Will I no longer be able to get a 0% rate or a loan in the future?

I’m so confused. We are starting to pay back the credit card debt now that I’m back at work but this just makes me feel like I’m in an even bigger financial hole than I originally thought 😩I was expecting to be back on track financially in about 3 years and just wanted to treat the debt like a car loan (which I don’t have) so I was not feeling too panicked, but now I just feel awful 😳

Thanks in advace.

[Deleted User] · 8 January 2018 at 3:18PM

It depends on the lender. But two overlimits isn't good.

The impact will diminish over time, but make sure you use eligibility checkers before jumping into applications.

In the meantime, set up DDs for at least the minimum.

HoneyBunny79 · 8 January 2018 at 3:27PM

Thank you for your reply

I have always paid the minimum, I think I naively didn’t realise that this wouldn’t be calculated to take account of the interest that the card issuer themselves was adding

[Deleted User] · 8 January 2018 at 3:36PM

Ignore your score as well since it's fictitious and no one sees it.

Any late payment or over limit markers remain on your records for 6 years

HoneyBunny79 · 8 January 2018 at 8:45PM

Not good but I’ll just have to suck it up

Over my credit limit, how long until off my credit report???

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