Options with an over limit card that was reported to the credit agencies personalfinance

About a year ago, I opened a best buy card to get a replacement refrigerator when our died out. The purchase included deferred interest.

I have been making minimum payments on the card while waiting for my bonus to come in to pay off the card in total. However, 8 days ago the deferment period passed, and they assessed $1,400 in interest on the card, putting me over my limit, and they also reported me immediately for going over my limit to all the credit bureaus.

I have contacted them and asked if they could remove or change the negative reporting as I was about to pay off the card in full, and the response was they could not that it would be illegal for them to do so.

I have worked for 8 years to fix my credit and whether or not it is a small ding, I thin it is crappy that the minimum payment isn't enough to outstripe the deferred interest too avoid this, and then they report you negatively to the credit bureaus without giving you a chance to fix it.

I had already made my monthly payment for last month, which is why i didn't notice it had went over. They applied the interest days before the end of the billing period and then immediately reported me as over limit.

Is there anything I can do, or am I over stressing this and the hit will be short term? It looks like the hit was around 50 points to my score which was ~709 for all 3 agencies.

Submitted May 05, 2017 at 10:09PM by vapegineer http://ift.tt/2p4KuIK personalfinance