New Delhi, July 17 -- While it is possible to exceed your assigned credit limit, also known as the credit card over-limit, consequences may stem from doing so. Continuing to maintain financial health relies on understanding what that means, the costs to you, and how to manage that responsibly.

The goal of this article is to provide a complete discussion of over-limit situations, their costs, and protections for your credit score as recommended.

When your credit card spending or outstanding debt exceeds the limit set by the credit card company you have an over-limit. For example, if your balance is Rs.1.05 lakh, and your maximum is Rs.1 lakh you have exceeded your limit by Rs.5,000. Over-limit situations occur for a variety of reasons ra...