0
What else can I help you with?
How can credit card companies charge an over-the-limit fee when their interest put you over?
You agree to pay the principle and the interest when you enter into a credit agreement; they charge interest because they extend you a line of credit that allows you to have things you otherwise could not afford and they use their money, not your. Failure to pay both the interest and principle results in an over-limit fee. -- I don't think this answer addressed the question. The question was not how can a bank give you an over the limit fee when you don't pay the interest. It asked how they can charge you an over the limit fee when they apply interest in a billing cycle and that puts you over the limit. The answer is the card holder agreement. You agree their interest can put you over the limit resulting in more fees for them. Just another of a few dozen reasons to avoid credit cards completely.
Can you be charged an over limit fee because of a finance charge?
Yes. By definition whenever your balance goes over the limit, whether it's due to a purchase, late fee, or regular finance charge, the credit card company can charge you an overlimit fee. But you may call the company to try to get it waived.
What is the over limit fee for a discover card?
As of my last knowledge update in October 2023, Discover typically charges an over-limit fee of up to $39. However, it's important to note that Discover does not automatically allow transactions that exceed your credit limit, and you must opt in for this feature. Always check your cardholder agreement or the Discover website for the most current fee information.
What happens if you go over the mileage limit on a lease?
If you exceed the mileage limit on a lease, you will typically have to pay an additional fee for each mile over the limit. This can result in extra costs at the end of your lease term.
What happens if you go over your credit limit?
If you go over your credit limit, you credit company will charge a fee and report your overage to the major companies that track your credit score. It is wise to watch spending the and never go over your limit.
When would your credit card company charge you an over limit fee?
When you charge more than your current credit limit
What is most important factor if you expect to carry a balance on your credit card and pay it off on occasion?
annual fee APR late fee over-the-limit fee
How can credit card companies charge an over-the-limit fee when their interest put you over?
You agree to pay the principle and the interest when you enter into a credit agreement; they charge interest because they extend you a line of credit that allows you to have things you otherwise could not afford and they use their money, not your. Failure to pay both the interest and principle results in an over-limit fee. -- I don't think this answer addressed the question. The question was not how can a bank give you an over the limit fee when you don't pay the interest. It asked how they can charge you an over the limit fee when they apply interest in a billing cycle and that puts you over the limit. The answer is the card holder agreement. You agree their interest can put you over the limit resulting in more fees for them. Just another of a few dozen reasons to avoid credit cards completely.
Can you be charged an over limit fee because of a finance charge?
Yes. By definition whenever your balance goes over the limit, whether it's due to a purchase, late fee, or regular finance charge, the credit card company can charge you an overlimit fee. But you may call the company to try to get it waived.
What is the over limit fee for a discover card?
As of my last knowledge update in October 2023, Discover typically charges an over-limit fee of up to $39. However, it's important to note that Discover does not automatically allow transactions that exceed your credit limit, and you must opt in for this feature. Always check your cardholder agreement or the Discover website for the most current fee information.
What happens if you go over the mileage limit on a lease?
If you exceed the mileage limit on a lease, you will typically have to pay an additional fee for each mile over the limit. This can result in extra costs at the end of your lease term.
What happens if you go over your credit limit?
If you go over your credit limit, you credit company will charge a fee and report your overage to the major companies that track your credit score. It is wise to watch spending the and never go over your limit.
Is it legal for a credit card company to lower your credit limit below your balance then charge you an over the limit fee?
no it isn,t you can ue for that offence if they did
Can a credit card company charge over limit late fee's and interest rates on a cancelled card?
no
Can you overdraw on a credit card?
Yes, but the card issuing bank would charge you over limit fee and other additional fees if you exceed your credit limit
Can they charge you an over the limit fee if your credit card is closed?
Yes, if the charge was made prior to closing your account.
What is meant by a credit limit?
Credit limit is the largest amount of money a consumer can charge on a credit card. The amount equals the amount of credit extended to a consumer. Charges over this amount are usually allowed, but expect to pay an "over-the-limit" fee.
