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Credit cards : over credit limit

Blog | Credit card

The over credit limit is the maximum amount that you can use to pay with your credit card. When the credit limit is over, different penalty fees occur.

The over credit limit fees

Certain companies block automatically the card when the credit limit is reached. Others, allow the client to exceed the limit but they require the payment of over credit limit fees. We strongly advise you to control regularly your credit card balance to avoid the payment of over limit fees.

Or you can choose a prepaid credit card, a card when you deposit money before you use it. With this kind of product, you never exceed the credit card limit.

Dishonoured payment costs

Some credit card companies impose processing fees in case of disohnored payment. So, be careful with your credit limit to avoid the unnecessary costs!

Inactive account charges

If you don’t need your credit card, is better to notify the company. Indeed, some companies don’t hesitate to bill the clients with inactive account charges. In case of cancellation of your credit card, ask for a written confirmation.

The over credit limit

If your credit limit is over, you have to pay the amount exceeding the limit. And usually to enjoy totally of all the services of your credit card, you have to pay an amount over the credit limit.

If you forget to pay the minimum monthly amount of your credit card, the company could increase the interest rate. So, be really careful with the credit limit and the minimum monthly payment!

Credit data base

You have to know that the credit data base in Switzerland, the ZEK, checks all the activities in the area of credit. When you have a credit card, you automatically register in this data base. If you have difficulties to pay your monthly charges, it’s notified by the ZEK. It could be a problem if in the future you need a larger credit.

If you have difficulties to pay your monthly charges, don’t hesitate to contact our partner Creditloan, specialized in debt consolidation.