The Chase Freedom Flex over-limit fee is $0, since any transaction that would exceed the credit limit on a Chase Freedom Flex card will be declined. Chase Freedom Flex cardholders cannot exceed their credit limit at all, and there’s no way to “opt in” to go over the limit for a fee.
That said, there are ways to try to increase your spending limit. Chase representatives say that if you consistently use your credit and pay your balance off by the payment due date, you might get targeted for a credit limit increase. Another option is to call and ask for a credit limit increase, but know that some credit card companies will need to do a hard inquiry on your credit report to approve such an increase.
In any case, you should never max out your credit limit. Credit utilization plays a big part in credit score calculations. If you max out a credit card, that’s 100% credit utilization on that card. In most cases, credit utilization above 30% will hurt your credit score. Therefore, you should only go over your credit limit in emergency situations. It’s not worth the damage to your credit score.
An over-limit fee is a credit card fee charged when a cardholder spends more than the card’s credit limit. Legally, thanks to the Credit CARD Act of 2009, card issuers are not allowed to charge over-limit fees unless the cardholder has explicitly given the card issuer permission to process over-limit charges. That means you have to “opt in” before they can charge you an over-limit fee. If you opt out – or fail to take any stance one way or the other – charges that would otherwise put you over your credit limit may be declined, and you won’t be charged any over-limit fees.… read full answer
That’s a big reason why many issuers have dropped over-limit fees in recent years. In fact, most major card issuers in the U.S. no longer charge over-limit fees on their credit cards. Although some still do charge these fees, they are required to state over-limit fees and other fees in their cards’ terms and conditions. To see if your credit card charges an over-limit fee, look at the fees section in your credit card terms. Fees will be listed near the top in a table format.
Federal law caps over-limit fees to one fee per billing cycle, for up to 2 consecutive billing cycles if you fail to bring your balance under the credit limit. However, they can charge you another fee if you bring it down and go over your limit again. If your card issuer isn’t following these laws and will not resolve the issue with you personally, you can file a complaint with the Consumer Financial Protection Bureau.
The Chase Freedom Unlimited credit limit is $500 or more for everyone who’s approved. The most creditworthy applicants can get starting credit limits of $5,000 or higher. Chase Freedom Unlimited cardholders who start with a limit of at least $5,000 get the Visa Signature version of the card instead of a Visa Platinum card. Signature cards come with a few more supplemental benefits from Visa. … read full answer
Chase doesn’t publicly disclose a maximum credit limit for the Chase Freedom Unlimited card. But some customers have said that they have received limits of $20,000 or higher. If you want a limit that high, you’ll need spotless credit, a very high income to afford the payments and low existing debt. Just keep in mind that no matter what limit you get, it’s not permanent. You can ask Chase for a Chase Freedom Unlimited credit limit increase by calling the number on the back of your card. It’s best to try that after at least half a year of on time bill payments.
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