I just got a letter from my Bank, Bank of Ireland, saying that they had increased the limit on my credit card by two thousand euro - are they allowed do this now??? I thought the Regulator forced them to stop??
The same thing happened to me before Christmas. I noticed when I got my statement that my credit limit had been increased by 2,000 then the letter informing me of same arrived about a week later. They are still doing it. I thought that they could not do this now
Not sure about this being illegal. Check the terms & conditions of your card agreement and maybe the [broken link removed] website for what's allowed. If you don't want the limit increased or at its current level then write to them asking them to fix it at your preferred level until further notice.
Liam O Reilly, CEO The Financial Regulator announced in Jan 2006 his intention to make the practice illegal from July 2006. I can find no record that this was actually done.