Credit card issuers are required to give cardholders the opportunity to opt-in to over-the-limit fees. Unless cardholders have expressed they would like over-the-limit transactions to be processed, those transactions that would exceed the credit limit should be denied. Before opting-in, cardholders must be told the amount of the over-the-limit fee. A cardholder who has opted-in to over-the-limit fees has he right to opt-out at any time.
Before it was possible to go over the limit without the consumer realizing it till they got their charges in the next billing cycle.
Limits on Over-the-Limit Fees
An over-the-limit fee can only be charged once in a billing cycle and only for a total of three consecutive billing cycles unless you pay your balance below the credit limit and go over it again or you get a credit limit increase and exceed the new limit.