I read a whle back about over the limits, just curious if they report this to the CRA, I went over the limit several months ago by about 6 dollars on one of my small cards, I don't think they reported this, but if they do would it hurt?
Actually, that isn't correct. If you look on your credit report, you'll see on many accounts "total credit limit $xxxx"; then you'll see "high balance $xxxx." So creditors can see if you have exceeded your credit limit. However, if it is a small amount and it is obvious from other factors that you aren't overextended (level of income, debt/income ratio and account history) and you aren't over the limit regularly, it will have a negligible effect.
Hey mom .. Well they don't Report over the credit limit . But it will show if your over the limit for a certian month on the balance or high credit side of the report. but once your under agian it will show the correct amount next month . This is true in the case of Equifax and transunion . Experian has a section where it says use of credit ! on that section on the accounts it reports your cedit limit at the time and your balance at the time for every month of having the account, some creditors don't report this section but as far as i know from my report most do, and the ones that didn't are doing it now. so by looking at this section a cerditor could tell if you've been over the limit( that;s only for Experian) . The good thing is that this "use of credit section lasts for 24 months and it;s not that important . good luck
