What Happens If You Go Over Your Credit Limit? Fees, Score
Going over your credit limit can mean a declined card, an over-limit fee only if you opted in, and a higher utilization ratio. Here is what the rules say.
Credit Card Basics guides
Credit card basics guides explain how credit cards work, and they are for you if you are getting your first card or want to understand the terms on a card you already have. They cover the parts of a card agreement that affect what you pay and how your credit develops.
The essentials are straightforward. Your APR is the yearly interest rate charged on balances you carry past the due date; if you pay your statement balance in full each month, most cards charge no interest on purchases. Your credit limit is the most you can owe at once, and the share of it you use affects your credit score. Paying on time every month is the habit that matters most for your credit history.
Read how credit card APR works to see how interest is calculated, and understanding your credit score before you apply. How your credit limit is decided explains what issuers look at, and how to build credit with a credit card shows how to use a first card well.
What Happens to Credit Card Debt When You Die? Who Pays
Credit card debt does not vanish at death, but it is usually paid from the estate, not by relatives. Here is who can owe it and how to handle collectors.
Credit Card Skimmer: How to Spot One and What to Do Next
A credit card skimmer is a hidden reader that copies card data at pumps, ATMs and terminals. Here is how to spot one, what you owe and what to do if skimmed.
Pending Charges on a Credit Card: Holds, Timing and Fixes
A pending charge is an authorized transaction the merchant has not finalized. Here is why holds appear, how long they last and what to do if one looks wrong.
Can You Buy Gift Cards With a Credit Card? Rules and Risks
Most stores accept credit cards for their own gift cards, but prepaid Visa and Mastercard gift cards have more limits. Here is what to check before you buy.
Virtual Credit Card Numbers: How They Work and Are They Safe
A virtual card number stands in for your real card number online. Here is how it works, how it limits the damage from data breaches and how to get one.
Authorized User vs Joint Credit Card: Liability and Credit
An authorized user can spend but generally is not liable; joint account holders each owe the full balance. Here is how the two compare on credit, control and risk.
How to Build Credit in Canada as a Newcomer: A First-Year Plan
Your foreign credit score does not follow you to Canada. Here is how Canadian credit files start, what RBC, TD, Scotiabank, CIBC and BMO offer newcomers, and a first-year plan.
How to Check Your Credit Score in Canada for Free
Equifax, TransUnion and the big five banks all give Canadians free access to a credit score or report. Here is where to look, what a good score is and how to correct mistakes.