What Happens If You Exceed Your Credit Limit?

newsfeedback@fool.com (Kailey Fralick), The Motley Fool
Tue, 09/18/2018 - 8:05am

Your credit limit is set by your card issuer and determines how much you can purchase on credit each month. Ideally, you'll stay well below that number, but if you find yourself approaching that ceiling, you may start to wonder what will happen if you exceed your credit limit.With the passage of the Credit CARD Act of 2009, creditors are no longer allowed to automatically charge you overdraft fees for spending beyond your allotted limit.

Topics: credit card act images exceed your credit limit declined overdraft

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What Happens If You Exceed Your Credit Limit?

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