Can you buy things if you go over your credit card limit?

If your card is at or above the limit it will usually be declined when you try to use it to buy more as those machines that you swipe your card through connect to a main computer and check the balance on your card before authorizing the purchase. You can sometimes go over the limit when there is a short delay between a purchase that puts your close to the limit and its being recorded on the card company’s system. In that case you can often make a second purchase shortly after that one and have it clear. However, once the first purchase is posted you will be over the limit and not only not be allowed to charge any more until you bring the balance below the limit but you will also be charged an over limit fee which often ranges between $30 and $50.

Another way to go over your limit is to be late with your payment when your balance is close to your limit. Once you are late, the credit card company will apply a late fee to the account and that will usually put you over the limit at which time they will apply an additional fee for going over the limit. Of course since you have failed to pay the full balance before the due date you will also be charged finance charges on the entire balance (what you charged plus the late fee and the over limit fee amounts). On top of that many credit card companies will also automatically raise your interest rate for being late as well.