How long does over limit stay on credit?

[questions]

How long does over limit stay on credit? Would you consider giving me a hand or at least some advice based on your experience? Any info much appreciated. Thank you in advance.

[tmvijai]

Most likely 7 years at the most.

[boosami]

Whether or not you are "over your limit" is used in scoring by the credit bureaus. Your score is not directly punished if they show you charged $1200 on a $1000 limit. It does affect it indirectly, though, as you can show more debt than you have available credit, and that is bad for your credit. However, it can also happen if you close an account with a balance, or have a credit limit reduced. The bottom line is that you are not penalized for over limit balances as if it were late, a missed payment, or in default/collections.

The answer to your question is: Any damage to your score from being over your limit will subside within a few months after you get the card back to the previous level.

[wincrasher]

On my credit report, the highest balance shows above my limit on my Amex card. It happened in 2001 I believe. Still shows as part of history of the card. But my score is around 800, so I guess it doesn't hurt much, as long as you are not currently over limit.

[boosami]

Originally Posted by wincrasher

On my credit report, the highest balance shows above my limit on my Amex card. It happened in 2001 I believe. Still shows as part of history of the card. But my score is around 800, so I guess it doesn't hurt much, as long as you are not currently over limit.

That doesn't hurt your score at all, winchrasher. There are many reasons your highest reported balance might be higher than the current limit. The most obvious is if there was a big limit decrease because you stopped spending on the card.

[Shane Watson]

I heard the stranded government limit was 5 year though I am not sure about it. Its up to the will of the bank to put the limit in. But what ever happens you can not escape bad credit score like this.