A. asked:


I know that it can hurt your credit and raise your interest rate if you charge more than your credit limit.

However, what if you are just under your credit limit and then the credit card company adds their monthly interest fee which puts you over the limit? Is it considered the same thing? Or does the company (Chase) not charge you over-limit fees if it is their interest that put you over?

Example:
Credit limit: $1000
You charge: $975
Monthly interest charge: $50
New Balance: $1025

Thanks!

Shane

Ebubekir K asked:


I got a letter from a credit card company saying that they have reduced my credit limit without any previous warning. Is there a limit to how often can they do this? Can they do it how ever many times they wish? For example, once every six months/year?

Also, Is there any way to see it coming?
The letter is not the warning because when i get the letter, the limit change is already in effect.

Jesus

Nimz asked:


I just submitted an application for a secured credit card about a week ago and the credit card company debited the $200 from my checking account that I would need for a security deposit and I still haven’t received my credit card yet. When do you expect that I should receive my credit card?

Jeff

saborguerito asked:


I am curious to know how much start up money would be needed to start a small Credit Card Company. I am interested in extending credit with Secured Credit Cards with low limits for individuals looking to establish or re-establish credit by a secured credit card. Also I have thought about prepaid debit cards for those in chexsystems and cannot get conventional checking accounts.

Any help?
What I mean is not to broker, but to be able to start a very small company directly.

Terry

.:JuSt A GiRl:. asked:


I would like to slowly restor my credit but I need to get another credit card and be responsible with it to get my score up. What company does this?

Sandra

Mark R asked:


I have a credit card with a credit limit of $12,500. I have not only been making the payments each month, but I have been paying off my monthly balance at the end of each month consistently. My father told me that, given the situation of today’s financial market, the bank can decide to lower my limit. Is this possible? Is this likely? If so, what factors would influence their decision to lower my credit limit?

Ronald