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Credit.com: This is what happens when you go over your credit limit

Credit cards certainly have their limits, but it is often possible to go over them. And is going over your credit limit bad? When you go over the limit on your credit card two key things can happen—you pay an over-limit fee and you hurt your credit score.

Due to restrictions in the Credit Card Accountability, Responsibility and Disclosure Act, some issuers have stopped letting cardholders spend beyond their credit limits. Others still have a credit card equivalent of overdraft coverage. That option, though, comes at a price. If you go over your limit, you’re charged an over-limit fee of up to $25 for the first instance and up to $35 for the second, according to the Consumer Financial Protection Bureau.

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