Max Overlimit Fee

Explanation: For consumer and student credit cards, you must first tell your credit card company that you want it to allow transactions that will take you over your credit limit. Otherwise, if a transaction would take you over your limit, it may be turned down. If you do not opt-in to over-the-limit transactions and your credit card company allows one to go through, it cannot charge you an over-the-limit fee.

For small business credit cards, if you spend over your credit limit, you will usually get an 'Overlimit Fee'. You do not have the option to opt-in like you do with general consumer credit cards.

Sometimes Overlimit Fees are tiered. When they are we recommend that you just focus on the 'Maximum Overlimit Fee'.

Background: For consumer and student credit cards, if you opt-in to allowing transactions that take you over your credit limit, your credit card company can impose only one fee per billing cycle. You can revoke your opt-in at any time.