Apple Card over limit, but no rejection or alerts?

Question

Apple Card over limit, but no rejection or alerts?

Still new to Apple Pay/Card so please be kind.

Last night I somehow spent over my card limit. I was using Apple Card manually and through Apple Pay, and I knew I had a high balance so I kept checking available funds via Wallet app before spending and after. I don't do any auto-pays.

This morning suddenly I had $0 availability when I checked it in Wallet, so I paid all my free cash ASAP because obviously that's a red flag.

Availability updated, and it appears I was over limit by $30.

I checked all my past push alerts, email inboxes, and missed calls, and there are ZERO alerts/notifications/displays/messages that I went over limit. Not to mention whichever charge(s) that weren't rejected. This seems insane to me.

I checked the card options in Wallet and I see no way to set any notifications. I contacted card support and they basically said it is what it is.

Is this seriously normal?

iPhone 15 Pro Max

Posted on Jan 19, 2024 12:03 PM

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Answer 1

Jeff Donald

Level 8

44,472 points

Jan 19, 2024 3:02 PM in response to JupiterBase06

Make sure you have notifications turned on at the following path:

iPhone > Wallet App > Apple Card > More Button (3 dots in upper right corner of screen) > Notifications > switch on.

I’m not sure what your real concern is. Apple Card charges no fees for being over limit. If you’re going to use credit cards have a little situational awareness. The available credit is updated in the app instantly. I get it you lost track of what you can spend, but overall there’s little if any damage.

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Answer 2

Jeff Donald

Level 8

44,472 points

Jan 19, 2024 4:43 PM in response to JupiterBase06

You have until the account closes each month. Every credit card has a different closing date. Apple Card is unique, it always closes the last day of the month. Get your utilization down by the 31 of this month.

Many account owners aren’t aware they can make multiple payments per month. The maximum is 5 electronic payments per day or about 150 a month. If you get near your limit, just pay it down and make sure you have it paid down to at least under 90% utilization by last day of each month. Ideally, get your score under 30% and to increase your FICO, get utilization to just 10% or lower.

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Answer 3

Jeff Donald

Level 8

44,472 points

Jan 19, 2024 4:12 PM in response to JupiterBase06

I’m sure how much you know about credit reporting to the 3 major bureaus. When you go over your credit limit it will be reported when your monthly statement reports. It does not trigger a mid-cycle report. It reports as a new high balance.

So, a credit report will show the highest balance you’ve ever had on your account. Going over your credit limit may cost your FICO score a few points. What really hurts your score is having a utilization of over 90% reported. Utilization is credit limit divided into account balance. If your credit limit is $1000 and your statement closes with balance at $900. That yields a 90% utilization and that’s a huge red flag to potential lenders and current lenders. But going over your credit limit is not a big deal. It’s the high utilization that hurts.

Happy to answer any questions.

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Answer 4

Jan 19, 2024 3:22 PM in response to Jeff Donald

That's only for purchases, but is already on anyway.

Yeah, normally I set custom notifications to prevent accidents, and I thought balance updates were instant, but not whatever happened between last night and this morning. Since I couldn't make custom notifications, I was relying on manually checking the balance, which failed me somehow.

So what's the point of a credit limit if I can over-limit the card with no penalty?

It would also be nice to know if a credit-over-limit report went to the credit bureaus, and at what amount. I didn't mean to do it. I don't intend to do it again. But I wish I was better informed on the situation.

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