What happens if you go over your credit limit?

I have a credit card under my dads company and I have a limit of 500$ and i went over 12 dollars what will happen?|||It is at the discretion of the credit card company. There are two possible outcome.





1. Credit card company temporary increases the limit for the transaction. Thus the original limit is exceeded after the purchase.


2. The transaction is declined.





I have experience that I spend over the credit card limit. Card company temporarily raised the limit for the transaction. Before the next billing cycle, I used the card again but this time the transaction was declined. After I paid the billing statement amount, the card resumed original limit.|||The interest rate will also revert to the default rate.





The credit card company might be lenient if this is the first time, so they may be willing to waive the fee and/or keep the interest rate as is.|||The CIA will break down your door and collect. Fingers are worth $5, toes $3. The choice is up to you.





I would personally go with fingers so you can have a $3 credit in case this happens again the future.|||You will not be able to use the card until you have paid down the debt to below the credit limit.|||You likely will receive an over the limit fee of $35 to $50.|||A $500 credit limit? Do you collect cans for a living or something? Is it a Fischer-Price my first credit card? Get some real debt, then we'll talk.