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What happens if you use a credit card over the limit?

There is no limit on how much you can spend on a credit card in a financial year. They can spend as per the credit limit offered by the credit card companies to their customers. However, spending beyond the credit limit will incur interest and charges.

What happens if you use a credit card over the limit?
credit card risk.

What happens if I spend more than my credit limit?

In India, the credit limit offered by credit card companies to their customers ranges from ₹2 lakh to ₹5 lakh. However, some companies also offer credit limits of ₹10 lakh or more to their customers.

While spending through credit card, it is better to spend according to their financial status. Spending beyond the credit limit will attract interest and charges, which can lead to financial hardship.

Here are some things to keep in mind while spending with a credit card,

  • Don't spend more than your credit limit.
  • Pay credit card payments on time.
  • Check credit card balances regularly.
  • Ensure credit card security.

Spend within this credit limit. Spending more than this will incur separate charges. Generally, spending10 to 30 percent of the 'credit limit' you're given is reasonable. This means that you spend responsibly rather than recklessly.  

You can increase the 'loan limit'. But, it also comes with another meaning. You need a lot of credit and have a reputation as an unbridled spender. A credit card is not just about your financial status; It will also tell your credibility.

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