Credit Card: Over limit Charges

POSTED BY Inder ON August 14, 2013 10:53 am COMMENTS (2)


I have a SC Manhattan card for which the credit limit is Rs50,000.

If I make a previous months payment on the due last date (full payment) and make a transaction next day of Rs50,000. Will I face over limit charges ?

Technically, on the date of purchase there is no outstanding due.



2 replies on this article “Credit Card: Over limit Charges”

  1. BanyanFA says:

    Hi Inder,
    I think you may end up attracting charges if the payment is not credited in your credit card. If you deposit via cheque, the credit may take upto 2-3 days and bank transfers may take upto 1 day.

    if I was you, I would rather make the payment a couple of days before the due date to avoid getting into a painful situation. Better loose interest on 3-5 days of payment then to have a red point in your credit history.

  2. Credexpert says:

    Dear Inder,

    If on the date of making purchases your outstanding balance is zero then, there would be no over limit charges. We would suggest that you refrain from making payments on the due date as any delay in processing the payment for whatever reasons could attract late payment fee, over limit fee, any other hidden fee and would also impact your credit report.

    Late payments are viewed negatively by lending institutions and hence it is advisable to make payments 2 – 3 days before the due date.

    Monitor your credit report and score on a regular basis and stay credit healthy. Avail any of our services this Independence Day and be entitled to exciting offers.


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