Not having any credit is frustrating at best. But there are more damaging reasons why you should bring your card back under its limit. Let’s take a closer look.

What happens if you go over your credit limit?

We won’t charge you a fee, but it can still work against you

For starters, being over the limit could mean we decline any new transactions. This might include automatic payments or direct debts, like gym memberships or online streaming subscriptions.

The sooner you pay off your credit card, the sooner the balance is brought back under the limit and you can start using it again.

We’ll contact you as quickly as we can

We can let you know via SMS or email if you've gone over your limit to help save you from having your services suddenly cut off, or being left stranded at the supermarket.

We will always let you know by SMS first unless we don't have your mobile number in which case we'll send you an email.

So it's really important to make sure your details are up to date. The quickest and easiest way to check and update your contact details is in NAB Internet Banking. Open the Settings menu and select My details.

We’ll send one notification per statement period

We'll only notify you once per statement period that you're over your credit limit. If you go over your limit in that statement period again we won't send you another notification.

What is a statement period? The month long period that covers your credit card statement. It won't necessarily be a calendar month, so be sure to check what your statement period is.

How to avoid going over the limit

Check your balance regularly

You can check your balance in NAB Internet Banking or the NAB app.

Try getting in the habit of logging in to review your balance whenever you use your credit card. If this is not feasible, do it once a day – perhaps while you’re reading the morning news.

If you have an Apple Watch, you can also use our Quick Balance function to review your credit card at a glance.

Set up NAB alerts

If you think you’ll forget to check your balance, setting up NAB Alerts is a handy way to keep track of your spending.

You can set weekly, fortnightly or monthly SMS or email balance reminders. And you can schedule them at 8am, 11am, 2pm, or 5pm.

Review your spending

There are two ways to look at your spending. You can actively review how much you’re spending, and make a conscious decision to reduce how much you’re putting on your card.

Important information

The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.

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