Rhonda Stewart, WalletHub Loans Analyst
@rhonda
There is no Chase Freedom over limit fee. Chase Freedom cardholders normally cannot exceed their credit limit at all. And there’s no way to “opt in” to go over the limit for a fee. However, in some cases, Chase may allow small over-limit transactions to go through without increasing the card’s credit limit or charging a fee. But most of the time, over limit transactions will be rejected.
What you should know before trying to go over your credit limit
It’s not a good idea to go over your credit limit, even if you are allowed to. Credit utilization, or the amount of your credit limit that you use, is something that plays a big part in your credit score. If you go over limit, that’s more than 100% utilization, whereas a good amount is below 30%. Therefore, you should only go over your credit limit in emergency situations, not as a way to simply spend more. It’s not worth the cost or the damage to your credit.
If you’re in an emergency situation, you can call Chase at (800) 945-2000 to see if they’ll temporarily or permanently increase your credit limit.
People also ask
Can you overdraft a credit card?
No, you can’t overdraft a credit card. The term “overdraft” actually applies more to bank accounts. Credit card issuers tend to use “over limit,” since you’re spending more than your credit limit. Whatever you call it, most credit cards don’t allow the practice. So, if you try to exceed your credit limit, your transaction will just be declined. And even if your card does allow it, you still have to opt-in to be able to...
read full answer by WalletHub, Financial CompanyHow much is the Chase Freedom Unlimited card over-the-limit fee?
The Chase Freedom Unlimited card over-the-limit fee is $0. Just keep in mind that any transaction that would go over the credit limit will probably be declined.
Chase Freedom Unlimited Over-the-Limit Fee Info
- There is no overlimit fee for the card, as most transactions that would go over the credit line will be rejected.
- Sometimes, Chase may allow small overlimit transactions to go over your credit line. However, it is not guaranteed. If it does...
What is an overlimit fee?
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, 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...
read full answer by WalletHub, Financial CompanyDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.