What is the over-limit fee that appeared on my credit-card statement?
When the amount that you have charged on your credit card exceeds your established credit limit, many credit-card companies will hit you with a nasty “over-limit” penalty or fee. The charge could top $25 or $50 — as if charging 12% or even 20% on your outstanding balance isn t already enough. Some banks and credit card companies will waive their over-limit fee if you call and ask, especially if you haven t exceeded the limit and asked for a waiver before. Even if the company agrees to waive the penalty, consider it a warning that your spending might be getting out of control. Put the card aside, eliminate frivolous purchases, and start paying cash.
