# BOI Credit Card limit upped



## sun_sparks (17 May 2006)

To date, I had a credit card limit of approx €3,000, which suited me fine. I logged on to banking 365 today to discover that my limit is now €5,600. Is this not now illegal? 

I have requested no extension to my limit, nor have I received notification of this change.


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## JP1234 (18 May 2006)

I don't think it's illegal yet, there is a thead about it here
http://www.askaboutmoney.com/showthread.php?t=18887&highlight=credit+card+limit

You are probably deemed a good customer, have a balance owing yet pay at least minimum payment on time ( no offence meant if you pay more than that or all your balance off each month) they do seem to increase limits to people who are a good risk, ie make money off customers who pay on time yet but have a balance outstanding on which they can charge interest.  The increase has possibly gone on automatically and you should get notification in the post thanking you for your custom and offering you the increase. If you don't want the increased limit just ring them and ask them to put it back, they cannot force you to take on the extra credit available and you should only be charged if you avail of it by making purchases against it.


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## ClubMan (18 May 2006)

What's the big deal? Just call/write to them and tell them what credit limit you would like to stick at.


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## lff12 (18 May 2006)

I don't think this applies until later in the year.

I would guess that many CC providers will agressively push up limits in anticipation of this happening.  If you don't want it just ring them and tell them.

I had the bizarre situation with BOI 4 years ago where they were closed my current account as I'd run 1000 euro over my overdraft limit (actually by the time they actually closed it I'd actually brought it down to less than the original limit, but because they'd cancelled the overdraft I was still unofficially in the red) and banged it off to a debt collector, yet they were still increasing my VISA limit as it was paid up to date!

My mother - who effectively has no income as a homemaker, has had a mastercard with NIB for many years, and incredibly, has a limit of over 4000 euros!  I'm not sure what the criteria is, as I have up to now had 2 cards with different banks, but at one is usually cleared in full - yet they kept increasing the limits on both.  I think its some kind of automatic thing these days.


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## ciara_gmail (18 May 2006)

Yes BOI did the same with mine after 6 months at the €3000 limit, its now €5300! i pay mine off 100% every month and although i may never use that limit in my life, it may come in handy for buying stuff for my apt over the coming months, but it was nice to get the recognition that they see me as a valued cutomer! they did notify me by letter aswell this!


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## sun_sparks (18 May 2006)

Hi,

Sorry - I was obviously thinking of the regulations that are coming into force later this year.

FYI, I'm in the same situation as ciara_gmail - I pay it off fully every month. I wonder whether they are hoping to entice our type into going over the amount we can comfortably pay off, or am I being cynical?? 

Anyway thanks for the heads-up. I may well write to the and ask them to keep the original limit. Too much temptation!


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## ciara_gmail (18 May 2006)

You might not be too far off the mark sun_sparks!


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## DrMoriarty (18 May 2006)

sun_sparks said:
			
		

> I wonder whether they are hoping to entice our type into going over the amount we can comfortably pay off, or am I being cynical??


I think you've hit the nail on the head there...

_[edit: post crossed with ciara_gmail's]_


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## Downunder (18 May 2006)

I have also had these automatic increases with MBNA. Last year, we were caught in Hurricane Wilma and the extra comfort came in dead handy. Nice to know that it is there if you need it. Shouldn't detract from your normal spending pattern however. It is all about the discipline.


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## TarfHead (18 May 2006)

There are 'behavioural algorithms' used by the credit card companies.

Before I sorted her out, my wife used to waste a fortune on CC interest. When she started clearing the bill in full, her limit was upped.

I too thought that this has been regulated against.


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## autumnleaf (18 May 2006)

I had my limit upped but did nothing about it because i pay the full amount by DD so didn't think it would make a difference. Is there any disadvantage to having a high limit if you pay it all off every month?


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## ClubMan (18 May 2006)

Not that I can think of. Unless something like the card being stolen and used to buy stuff up to the credit limit. But if you report it stolen ASAP then you should be indemnified anyway as far as I know (check the terms & conditions to be sure).

In the 10+ years that I have had my _PTSB VISA_ card I have always cleared the balance before interest kicked in. I don't remember ever having my credit limit upped unilaterally. Maybe in the early days - I can't remember. Once when a payment was declined in a hotel because I was hitting my limit at the time I called _PTSB VISA _and had them up the limit there and then to allow that payment to go through. My current limit is around €2,500. Maybe this request to manually change the limit interfered with any automatic rules that they had for upping the limit every so often? Or maybe they simply don't do that - unlike other banks?


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## DrMoriarty (18 May 2006)

I know that when I first opened my BoI MasterCard a/c (then Access — 'your flexible friend', remember?  ), I deliberately kept my credit limit low, so that it would act as a kind of early warning system. If we went over-limit, the card would be declined somewhere, and I'd know we had to 'cool it' until the end of the month.

Then BoI introduced a £10 charge (this was back in the early 90s) for sending out a form letter advising me a week later of what I already knew, so I raised the limit and started keeping a manual 'tally'. Eventually, online banking came along and made everything much simpler.

Now, without ever having asked for it (nor, alas, earning/spending anything like enough to justify it!), I have a combined credit limit on my two BoI cards of €18,000. I smile about that when I think of doing a 'runner'...


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## bacchus (19 May 2006)

sun_sparks said:
			
		

> To date, I had a credit card limit of approx €3,000, which suited me fine. I logged on to banking 365 today to discover that my limit is now €5,600. Is this not now illegal?
> 
> I have requested no extension to my limit, nor have I received notification of this change.


 
As stated by dear EH a while back, credit card limits are not targets ... so don't see what the issue really is... 
Use your CC has you used to and forget about the upped limit.
Happy shopping


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