So curious, what happens if interest and charges go over the credit limit, how long will it take to affect the credit score? And do I need to pay it back right away?
Wells Fargo – Credit card going over limit – How long will it affect the credit score?
byu/Taskmask1 inCreditCards
Posted by Taskmask1
3 Comments
Yeah you want to pay that down ASAP because high utilization hits your score pretty quick – usually shows up in next reporting cycle which is like 30 days or so
I did that once with my WF card while traveling overseas. My score dropped 100 points but rebounded the next month and they increased my limit by 100% of my limit at the time of maxing it out.
I went over the limit on a chase card for a day or two once while hitting a sub. It got declined over the limit but otherwise nothing happened. If you let that balance post it will be not good for your credit score for that month if that card is a significant part of your limit.