Mostly all issuers charge the penalty of over-limit fees on credit cards; however, this facility is subjected to terms and conditions as well as some consequences. The consequences differ in case you have chosen an over-limit protection plan or not; it is a feature that offers you to spend more than your credit limit. Over-limit protection plans allow you to occasionally spend over the credit limit, but that also comes with consequences. On the other hand, if you do not have an over-limit protection plan activated, your over-limit credit transaction would be declined.
Some of the common consequences that you might have to in case of over-limit credit transaction are: