It's late on Friday afternoon, and I'm just about brain dead. I'm looking at a credit card disclosure and I think there is an error on the amount we can charge. What is the maximum over the limit fee we can charge? Is it a flat $10 and only if the balance is exceeded by the lesser of 10% or $100 of the available line? I'm soooo confused by this language! Thanks for your help!!!

The maximum overlimit fee you can charge is $10. For lines less than $1,000, add 10% of the line amount to the credit limit and that's the amount the borrower must exceed before the fee can be charged. If the line is $1,000 or more, add $100 to the credit line and that's the amount the borrower must exceed before the fee can be charged. Easiest solution to simplify this is to not make lines of less than $1,000. Then you can just go with a flat $100 + credit limit to trip the overlimit fee of $10.00.

I agree the construction on this section could certainly be improved with a comma between the first occurrence of the word "dollars" and "if". However to read it with the only other possible construction would have you able to charge an overlimit fee of $110 on a $1,000 line, and I know that would not be allowed.

Thanks, Jim! Happy Holidays!