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lsemakula

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IF I OWE MORE THA N MY CREDIT LIMIT DOES THAT AFFECT MY CREDIT?

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Top Contributor
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simple answer, YES!

Typically, you want to keep your credit card balances at less than 50% of the credit limit, Ideally at less than 30%.  For the best credit score possible at less than 10%. 

Any time you make charges that put you over your limit, you will incure fees from the CC co. and they mayl freeze that card so you can no longer use it until it's paid down.  Credit card companies LOVE people that do this because they will make loads of money off you through interest and fees.  

Check this out,  A single charge of $100 that puts you over the limit on a card with a $2K limit  will incur an over limit fee of $37. +  Interest of about $13.  so that the $100 will cost $150 to pay back. If you can't pay it off right away, the interest will continue to acrue 

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