Tag Archive | “Capital One card”

Costs and Fees: Hefty Cost of Going Over the Limit

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In this article I have explained that what will be the consequences if you exceed from credit card limit.

What happens when I charge my credit card over the limit?

If you charge your card over the limit then you will be socked with a hefty penalty fee. Commonly the over-the-limit fees charged by card company is of $29 and $35.

I know a person who was charged a $25 late fee and $25 over-the-limit fee on a Capital One card having a limit of $300.

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It has been pointed out by the issuers that in the credit-card agreement fees are spelled out and credit limit, balance information and due dates are listed in the monthly statements. But still there are several people who are shocked by over-the-limit fees. In fact, most of the people don’t even know that there is any card’s over-the-limit penalty but they learn about that  after they get charged one.

When You’re Charged

There are two choices that credit card issuers have when a customer makes a purchase that exceeds a credit limit. They can either refuse the transaction or they may approve it and charge a fee.

Read the full story

 

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