my wife has an orchard bank credit card, she went over the limit by a few dollars last month. we paid it about 2 weeks after it went over the limit and it is now below the credit limit again. (payment wasnt late or anything) we got a letter yesterday telling us it was over the limit and that it is bad..blah blah. how bad is this on the credit report? what does it show up as? Im trying to get myself added to the card (they want me to apply to be an authorized user), but I don't want to bother being added to it if her over-the-limit thing makes me look bad too.
as George called it. its a in house thing. SHows up on NO credit report. However it mite restart the 6 month clock for CL increases.
Of course it can show up on a report. You have the credit limit column and the most owed or high credit column.
Sometimes you have to pay a FEE...like $39.00... It won't show up on the credit report as "OVER-LIMIT"...but will show--------->CREDIT LIMIT $5000...HIGH BALANCE $5003 F.I.C.O. score could only be SLIGHTLY (or none) affected...and only for one month...
so, you guys/gals think i should persue being added to the card ? (they seem to not think im credit-worthy, tried applying for their card a few weeks back and couldnt even get the secured one) ;p pretty bad when orchard bank dont like you. as i've said before..my wife doesnt work. I pay the bill..i should at least be able to be an authorized user without a hassle.
Heck, at $35 a pop, lenders will fall over backwards to get you and be happy when you go over the limit! Seriously though, the only promising thing some large banks are reporting is their increase in fee revenues (late FEE, overlimit FEE, etc.). It may not even show up on a credit report, depending on if they report high balance at the cycle end date or account high balance (at any time). -mj
I know it can show up as having your high balance higher than your credit limit. If I were you, I'd try to get a credit limit increase, even a small one, so that your credit limit will show higher than your high balance. -ingenue
If you don't pay it back down fast, they will go to the default interest rate, and then you will be in trouble.
