over limit charge on a credit card - credit rating?

Random

Can constantly going over your credit card limit affect your credit rating provided you keep up payments?

uberwolf

credit rating is concerned with missed payments.

As you are incurring charges every time you exceed your limit, and apparently demonstrating that you can manage the debt level you should apply to have your limit increased.

Or if it's long term debt, then refinance onto term debt for lower interest rate, or at least make sure the rate on your credit card is market leading so that you can stop treading water on it.

Random

Not paying a minimum payment one month would affect your credit rating though?

miju

yes if you missed a payment that wil affect your credit rating

couple of years back i kept going over my limit for about 5 months in a row. payments where always made on time and there was no issue made of it

pow wow

ciaranfo wrote:

Not paying a minimum payment one month would affect your credit rating though?

It would show up on a credit report yes, I doubt it would put your rating in the toilet. My report is immaculate except for 3 missed payments on one card where I was disputing the transaction and refusing to pay for it...I added an explanatory note and it's never been a problem.

miju

how do you ad an explanatory note to your NCB report? from last time i got mine all it had was a schedule of months and ticks or Xs with a different symbol at the end to show the last status