I think I'm over my credit limit by 15-20 bucks because I thought I canceled an online order but it went through anyway. What will happen? Will this affect my credit rating?
I'm going to try and put more money on the card tomorrow but just want to know what this will do.|||If you go over, you will get an over the limit charge that can be as high as $50. You will have to not only make your minimum payment but pay the over the limit charge to put your account back in good standing with the credit card company.
Having your balances so close and over the limits does hurt your credit, because part of your score is based on utilization. You should never go over 30% of your limit.|||well if it's not too much like you said 15-20 bucks then it's not much things. usually the credit card companies approve the transaction even though you're over your limit. but they charge a fee for $20 or so just for going over the limit. besides that on credit score. no impact at all.
it's just that going over the limit isn't considered a good thing because it shows lack of money management to creditors.|||First of all just in case, do put money in your card just in case. Since it is only a small amount you shouldn't worry about it. You might be able to pay it before you credit card bill for the month ends. Even if you went over your limit you will only have to pay on your next bill a little bit extra for going over. This should not affect your credit rating if you fix the problem soon.|||This will give you an over the limit fee.
It could possibly boost up your apr. (This is the worst thing because it makes u get high finance charges)
It will not affect your credit rating.. thank goodness.
My advice:
Every 6months call and ask for a credit limit increase and every 6months call and ask for a lower apr.
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