I believe everyone has heard of this term, overdraft credit card, but they probably don’t know much about it. After all, not many people overdraw their credit cards. An overdraft credit card refers to an overdraft after the credit card limit has been exhausted, which means that you can still use it after the credit card limit has been exhausted. Let’s take a look at the detailed introduction below.

Can I still use my credit card after the credit limit has been exhausted?

Whether I can still use the credit card after the credit limit has been exhausted depends on the bank’s regulations in this regard. If the bank sets the maximum limit for credit card consumption, The credit limit is controlled at 110% of the preset credit limit, which is equivalent to being able to exceed the limit by 10%. This means that the cardholder can spend 10% more than the credit limit after using up the limit on the card. However, this phenomenon is not very common. , after all, this approach involves greater risks.

The credit card limit can still be used after it has been used up. It can only be operated under specific circumstances. The price of the goods to be purchased is greater than the available limit of the credit card. For example, the available limit of the credit card is 1,000 yuan and the over-limit limit is 100 yuan. Then The price of the purchased product is only 1100, which may exceed the limit. Moreover, you need to pay for the overdraft limit. Generally, 5% of the amount exceeding the credit limit will be charged, and the fee charged will be between 10 and 200 yuan. For example, if you are overdrafted by 1,000 yuan, you will need to pay a fee of 50 yuan; if you are overdrafted by 100 yuan, you will be charged a fee of 10 yuan.

The above is an introduction to whether you can still use your credit card after maxing out your credit limit. I hope it can answer your doubts. At present, most banks have strict risk control and do not allow cardholders to spend beyond the maximum limit on the card.