I check my limits every other day. Then again, I don't really go anywhere or require that much.

KMoney, it's all about awareness and staying on top of things. If you check your accounts daily, then you can't go wrong.

This is really interesting and I bet if a number of people understood this factor they would not even attempt to go over their limit. I know what my cc limits are and I won't even go to the tip of the limit.

Yes, it can be avoided since you are supposed to pay the difference between your limit and your balance before the statement cuts. It's always a good idea to check on your available balance everyday to remind yourself of how much you can charge on your credit card. I always leave at least $200 worth of available credit to prevent myself from going over my limit and it hasn't failed me yet.

Can this also be avoided by having a card with no pre set spending limit?


I well Look Into that give me sometime

Can this also be avoided by having a card with no pre set spending limit?

An Explanation of Your Credit Limit

Your credit card came with a maximum limit that you can charge without receiving a penalty. This is called your credit limit . Even though the credit card company has told you not to go over the credit limit, they won’t stop you from going over.
Most people think their credit card will be denied when they make a purchase that will put them over their credit limit. Unfortunately, this isn’t the case. Any purchases over your credit limit will go through as if they were under the limit, causing you to incur an over-the-limit fee.
When you get your next statement in the mail, it will include a minimum payment that is just enough to put you under the credit limit. If you send in this payment , you’ll see that the balance on your next statement is also over the limit. You’ll be stuck in a continuous loop of over the limit charges until you do something about it.
Why Do You Keep Getting Over the Limit Fees?

Let’s say your credit limit is $1,000 and you went over the credit limit by $25 and got charged a $39 over-the-limit fee making your balance $1,025. Your billing statement included a $69 minimum payment which would bring your balance to $995.
Even though you didn’t make any new purchases with the credit card, your next statement has a new balance that is also over the credit limit. Why?
After you made the $69 payment, you got charged a $12.81 finance charge (assuming your interest rate is 15.9% and your card uses the average daily balance method). That brought your balance to $1007.81 which is again over the credit limit. You’ll also get another $39 fee.
So, you see, even though you made a minimum payment that put you below your credit limit, the finance charge applied during the billing cycle put your balance back over the limit.
How to Get out of the Fee Trap

Putting an end to those continuous over the limit charges is easier than you thought. All you have to do is make a payment that’s higher than the minimum.
The payment you make needs to be high enough to cover the finance charge you’ll get charged during the billing cycle. Using the example above, you could have made an $82 payment and kept your balance below the credit limit, even after the finance charge was applied.
If you have a balance that’s over the credit limit, it’s another reason to make a payment that’s more than the minimum. Otherwise, you’ll find yourself paying over the limit fees every month until you finally pay the balance down far enough negate finance charges

ohhhh yes, you must watch GEMB, they are quick to give you credit but they will mess you over at the same time. I have all of that cleared up, I went smooth off on them and had the store sales man to back me up. He was sitting there looking nervous anyway when my husband walked in. I was not going to let him say anything anyway because that is my credit and my problem. He just better smoke his cigs in the garage like the rule I put down. If this bed gets burned like my last one, I will need you all to call the SFPD and help me post bail. I am going to turn into Farrah Foset on "The Burning Bed"

Now Meya I have told you I don't have NO BAIL MONEY. LOLLLLLLL!!!!!

ohhhh yes, you must watch GEMB, they are quick to give you credit but they will mess you over at the same time. I have all of that cleared up, I went smooth off on them and had the store sales man to back me up. He was sitting there looking nervous anyway when my husband walked in. I was not going to let him say anything anyway because that is my credit and my problem. He just better smoke his cigs in the garage like the rule I put down. If this bed gets burned like my last one, I will need you all to call the SFPD and help me post bail. I am going to turn into Farrah Foset on "The Burning Bed"

Well guess what just happened to me? I financed a Sleep Number frm GEMB right? I was approved, got my bad boy 2 weeks later, can barely wake up in the morning (due to good nights sleep), and low & behold I received an alert from my credit watchers, saying, "You have a new derog!" I went crazy and took a look to see who it was, it was from GEMB saying my account is OVER THE LIMIT! Immediately I registerd my account online and paid the over limit of $-169.97. I called and called them all day yesterday, all I got was "We are experiencing high volumes of calls and can not take your's, please use our automated services...blah, blah, blah."

I could not sleep and my bed felt like cement all night. I got up this morning and called them received the same message but something said, dont hang up. Finally I got a hold of a rep who "claims" she understand what is going on and she see that I made the payment online. I was told that when they send in my next monthly report to the CB, they will request to remove the "Over the Limit" from my credit report, and to also dispute it with Exp if I want it to move a little faster because they have typed in info into my account in regards to what happened. But, this is going to take 30 days. I have back up from the guy who sold me the bed, so she also told me to go back to the store (as a back-up) and explain the situation with the salesman becasue he is the one who originally done this. He knew that I was over the limit when they approved me with only $2k. Well guess what? I looked at my sales receipt and his name happens to be "JUSTIN." Wait until I get a hold of him. I am going into the store, throw him across the same bed he sold me, and choke him out until he screams for mercy......nah just kiddin! He was real cool, and I know he got my back. I usually stop by to say hi every-now-and-then when I am in the mall.

I am making everyone aware of what we need to do in order to keep ourselves clear and free of debit. We have been through a lot trying to rebuild our credit and if something goes wrong down the line, we have learned enough from FG members to get ourselves back on track. Thanks to this site, members, and my credit monitors, I gained financial knowledge, learned how to stay on top of my credit, and demand nothing but respect in regards to MY creit report. If I do not play any creditors, DO NOT play me! Right Pamela2! I never seen the day that I would go crazy if I seen a negative item on my report, I used to go, "Oh well, get in line with the rest."

Dang Meya I am so sorry that this happened to you

Clifton, you had never kept us up to date with the incident. Where are you?

Well guess what just happened to me? I financed a Sleep Number frm GEMB right? I was approved, got my bad boy 2 weeks later, can barely wake up in the morning (due to good nights sleep), and low & behold I received an alert from my credit watchers, saying, "You have a new derog!" I went crazy and took a look to see who it was, it was from GEMB saying my account is OVER THE LIMIT! Immediately I registerd my account online and paid the over limit of $-169.97. I called and called them all day yesterday, all I got was "We are experiencing high volumes of calls and can not take your's, please use our automated services...blah, blah, blah."

I could not sleep and my bed felt like cement all night. I got up this morning and called them received the same message but something said, dont hang up. Finally I got a hold of a rep who "claims" she understand what is going on and she see that I made the payment online. I was told that when they send in my next monthly report to the CB, they will request to remove the "Over the Limit" from my credit report, and to also dispute it with Exp if I want it to move a little faster because they have typed in info into my account in regards to what happened. But, this is going to take 30 days. I have back up from the guy who sold me the bed, so she also told me to go back to the store (as a back-up) and explain the situation with the salesman becasue he is the one who originally done this. He knew that I was over the limit when they approved me with only $2k. Well guess what? I looked at my sales receipt and his name happens to be "JUSTIN." Wait until I get a hold of him. I am going into the store, throw him across the same bed he sold me, and choke him out until he screams for mercy......nah just kiddin! He was real cool, and I know he got my back. I usually stop by to say hi every-now-and-then when I am in the mall.

I am making everyone aware of what we need to do in order to keep ourselves clear and free of debit. We have been through a lot trying to rebuild our credit and if something goes wrong down the line, we have learned enough from FG members to get ourselves back on track. Thanks to this site, members, and my credit monitors, I gained financial knowledge, learned how to stay on top of my credit, and demand nothing but respect in regards to MY creit report. If I do not play any creditors, DO NOT play me! Right Pamela2! I never seen the day that I would go crazy if I seen a negative item on my report, I used to go, "Oh well, get in line with the rest."

Anytime, you know we have to stick together in here!

I appreciate you taking out the time to give me the info, Meya. Thanks, this does help.