Thedelldays Posted 27 June, 2012 Share Posted 27 June, 2012 I have online banking with Halifax and have all my accounts visible on there I have noticed that (again) my credit limit on my credit card has been extended by another £1000 why do they do this... I don't want it, I am no where near what so ever to my credit limit...I barely have a balance on my card (currently £35) and yet they have extended my limit again despite me never ever being anywhere remotely close to my credit limit..? bizarre Link to comment Share on other sites More sharing options...
stevegrant Posted 27 June, 2012 Share Posted 27 June, 2012 They're basically trying to entice you to spend loads of money on it... "here, have some more free money, only it's not free really" When they put your limit up, they're supposed to write to you to let you know they've done it. There's usually a phone number to call where you can refuse the increase. Most card companies will reduce your limit at any time you like anyway. Link to comment Share on other sites More sharing options...
dune Posted 27 June, 2012 Share Posted 27 June, 2012 I don't think they should take it upon themselves to do this, but clearly they can. I don't want a credit card, but need to have one for car hire security. Link to comment Share on other sites More sharing options...
Thedelldays Posted 27 June, 2012 Author Share Posted 27 June, 2012 They're basically trying to entice you to spend loads of money on it... "here, have some more free money, only it's not free really" When they put your limit up, they're supposed to write to you to let you know they've done it. There's usually a phone number to call where you can refuse the increase. Most card companies will reduce your limit at any time you like anyway. just seems bizarre. my credit limit is now £8k. the MOST I have even owed on my credit card was just shy of £3k when I moved into my flat in 2007 but that was fully paid off in a couple of months. I recently had £700 on it when I paid my car insurance, and a return flight from exeter to glasgow...but now just it is £35 and a few pence.. at what point do they think I am going to spend £8000....lol Link to comment Share on other sites More sharing options...
bridge too far Posted 27 June, 2012 Share Posted 27 June, 2012 These bankers *tch* They're all crooks Link to comment Share on other sites More sharing options...
buctootim Posted 27 June, 2012 Share Posted 27 June, 2012 Works the other way too. I got an American Express card in order to get BA airmiles. I ran up a bill to near the limit and then pretty much forgot about it (though the monthly payment was still going out). Amex then sent me letter saying they were lowering my limit and increasing the interest rate as my 'borrowing behaviour indicated a high risk'. Tvats. I simply thanked them for reminding me how much money I was wasting with them and cancelled the card. Link to comment Share on other sites More sharing options...
suewhistle Posted 27 June, 2012 Share Posted 27 June, 2012 My credit card limit is more than my gross annual pension!! Link to comment Share on other sites More sharing options...
Bearsy Posted 27 June, 2012 Share Posted 27 June, 2012 If the op is serious i am willing to help him use up the excess credit. Send me pm. Link to comment Share on other sites More sharing options...
bridge too far Posted 27 June, 2012 Share Posted 27 June, 2012 My credit card limit is more than my gross annual pension!! Me too! Link to comment Share on other sites More sharing options...
suewhistle Posted 27 June, 2012 Share Posted 27 June, 2012 Fancy a shopping trip in August? Link to comment Share on other sites More sharing options...
bridge too far Posted 27 June, 2012 Share Posted 27 June, 2012 Fancy a shopping trip in August? To special shops for poor pensioners? Link to comment Share on other sites More sharing options...
Doctoroncall Posted 27 June, 2012 Share Posted 27 June, 2012 I thought they were not suppose increase the limit anymore, only when requested... mine is still the same as it was three years ago and I haven't been in contact with them and vice versa. Link to comment Share on other sites More sharing options...
trousers Posted 27 June, 2012 Share Posted 27 June, 2012 Works the other way too. I got an American Express card in order to get BA airmiles. I ran up a bill to near the limit and then pretty much forgot about it (though the monthly payment was still going out). Amex then sent me letter saying they were lowering my limit and increasing the interest rate as my 'borrowing behaviour indicated a high risk'. Didn't Barclays try something similar with a company called Southampton Leisure Holdings once upon a time...? Link to comment Share on other sites More sharing options...
Verbal Posted 27 June, 2012 Share Posted 27 June, 2012 Works the other way too. I got an American Express card in order to get BA airmiles. I ran up a bill to near the limit and then pretty much forgot about it (though the monthly payment was still going out). Amex then sent me letter saying they were lowering my limit and increasing the interest rate as my 'borrowing behaviour indicated a high risk'. Tvats. I simply thanked them for reminding me how much money I was wasting with them and cancelled the card. Better to use your Amex for Virgin Miles - much better deal than with BA. Link to comment Share on other sites More sharing options...
buctootim Posted 27 June, 2012 Share Posted 27 June, 2012 Better to use your Amex for Virgin Miles - much better deal than with BA. Perhaps, but Virgin only fly to a handful of destinations - ive tried to rationalise my 10 or so 'loyalty' schemes with a few points in each into two or three I can really get some benefit from. Link to comment Share on other sites More sharing options...
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