Credit Card Overdraft Question?
Will I get charged a large fee? Or any fee at all? Help me out. :(
Tchau! :D
Answer:
Do you mean you will be "overlimit"? The answer depends on how fast your CC works. I would not chance it.
DON'T DO IT! By going over your limit, most credit cards automatically charge a huge fee AND they'll double or triple your interest rate. The rates will not go down once you pay down the balance, either!
When overdraft is applied, you will be charged the overdraft charge and an insufance funds. Both of these charges vary. Usually around 20-25 dollars each.If you are getting paid tonight you may want to think about borrowing from a friend until tomorrow.
Well, you appear to be asknig about a DEBIT CARD and not a credit card. A CC you do not 'deposit' money, you make payments, and you don't "overdraft' you go "overlimit".
Most overlimit/overdraft charges are about $35. And MOST banks charge it even if you OD by 1 CENT. Mine, however, doesn't charge if its under $5 or so.but dont count on that.
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