A regulated entity may only increase a consumer's credit card limit following a request from a consumer.
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 winkMy main fear is all the talk of fradulent charges, I don't want to be stuck for 6 grand!
According to the Financial Regulator's Consumer Protection Code
Chapter 4 Section 2:
Quote:
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.
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!![]()