# Bank increasing CC limit without asking



## legend99 (13 Dec 2006)

I thought this was now illegal....logged onto my bank accounts today and noticed that my limit has been increased by 2k without me asking?


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## money man (13 Dec 2006)

They have done it to me 3 or 4 times over the last year. I asked them could they do this (was it legal) they said it was. i posted about it here before. I cant believe that they can do it. they prob say that they look at your history and repayment ability but i think that its unscrupulous. Why dont they ask you do you want it increased that they have approved it if necessary. but you have give go ahead or activate yourself. someone posted a link to consumer affairs website/financial regulator. it was somewhere there i read in a big document about it but it went on for ages and i didnt see anywhere where they said it was illegal for banks to do it. it appears that they can do it if they like.


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## CCOVICH (13 Dec 2006)

A quick call to the Financial Regulator should clarify the position.


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## 3dolls (13 Dec 2006)

This was happening to me several years ago with BoI Visa. I rang them up the first time and insisted they put it back down. And I rang the second time they put it up....the third time the did it, I rang again, ad told them in no uncertain terms that it was not to happen again unless I applied for an increase. They then applied a flag to my account and it didn't happen again. Then I left them and went to NIB 

I believe it relates to your sending patterns. If you go close to the limit one month, they will bump it up for you the next month - kind of them, isnt it?!!!


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## GeneralZod (13 Dec 2006)

I think big ticket items might trigger it. I've bought computers on my credit card without going near the credit limit and they still used it as an excuse to raise the limit. I rang them up an got the limit set down lowish again.

Its a hell of a lot easier to get the limit raised than lowered. MBNA have a request raise link on their web site but no request decrease limit. You have to play telephone tag with them and explain the concept of decreasing the limit rather than increasing it to them.


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## Brendan Burgess (13 Dec 2006)

According to the Financial Regulator's Consumer Protection Code

Chapter 4 Section 2:



> A regulated entity may only increase a consumer's credit card limit following a request from a consumer.



This Code is being rolled out over a short period of time starting last August I think. I would expect that this provision is in force now. Call Consumer Information and report the CC company.

Brendan


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## Alias (14 Dec 2006)

I had this happen as well, and called the bank recently to find out what my actual limit was.  I got the card 4 years ago with a 1k limit, and now it's at 6k.  I've never had more than 2k on it and so asked them to move it to that, which they have, and not to increase it without my request.  We'll see how that part goes!  Only took about 4 minutes on the phone to sort out though.  It's an AIB Mastercard.  My main fear is all the talk of fradulent charges, I don't want to be stuck for 6 grand!


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## elcato (14 Dec 2006)

> My main fear is all the talk of fradulent charges, I don't want to be stuck for 6 grand!


Up until this comment I was saying to myself this is another one of those threads that someone wants the government to bail them out cos they too stupid to manage their own affairs. I presume all the other posters were doing so for this reason as well - nod nod, wink wink


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## Z100 (31 Jan 2007)

Brendan said:


> According to the Financial Regulator's Consumer Protection Code
> 
> Chapter 4 Section 2:
> Quote:
> ...


 
*Jan 25, Tesco*: "As a valued customer we are pleased to advise you that your credit card limit has been increased. Your new limit is E5,000, effective immediately. If you would prefer not to receive this increase please call.......".

Would have thought by now that, legally, you would have to ring them to have your credit limit increased, not to reverse an increase! 

I think (hope?) I'm sensible enough not to go wild with a credit card but as someone else said above my concern is that some dodgy creature will max my card out - that's why I *don't* want unasked-for increases! My first CC's limit was, over time, increased from 1,000 to 13,000!! Unasked-for!


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## polaris (1 Feb 2007)

Bushfire said:


> my concern is that some dodgy creature will max my card out - that's why I *don't* want unasked-for increases! My first CC's limit was, over time, increased from 1,000 to 13,000!! Unasked-for!


 

Exactly, and if any fraudalent transactions are made with your credit card using your pin number, the banks now state that you are liable as you "must" have disclosed your pin number to someone else.

http://www.askaboutmoney.com/showthread.php?t=41619

This story is an example of why you should keep your limit as low as possible.


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