Cameron DiGiovanni, Writer
@cdigiovanni20
No, there isn’t any Bank of America credit card over-limit fee. Instead of a fee or high APR, customers who exceed their credit line will probably have their transactions declined.
Things to Know About Bank of America Over-Limit Transactions
- Whether an over-limit charge is declined or accepted is up to Bank of America. The issuer considers your account history and how far over the credit limit your balance would go when determining whether to accept or deny an over-limit purchase.
- In general, the higher you go over the limit, the less likely it is that your charge will be accepted.
- To be positive that your charges go through, you’ll need to remain under your credit limit.
- Anytime a charge exceeds your Bank of America card’s credit limit, there’s a chance your card will be declined.
Note that it’s a bad idea to max out your credit card as credit utilization is an important factor that determines your credit score. This means that if you use your credit card’s entire line of credit, it will put a dent in your score.
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