"Overlimit fees" refer to charges imposed when a person exceeds their preset limit or maximum allowed amount on a particular financial account or credit card. Full definition
If you don't opt in to a credit card program with overlimit fees, and attempt to spend over your credit limit, you card will be denied. (valuepenguin.com)
And a Consumer Finance Protection Bureau industry survey found that three of the top nine issuers still charge overlimit fees, if the cardholder opts in to allowing overlimit transactions to be processed. (mymoneycounselor.com)
Cardholders will not face overlimit fees unless they elect to allow the creditor to approve overlimit transactions. (bankrate.com)