Credit Card Limit

[Thedelldays]

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

[stevegrant]

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.

[dune]

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.

[Thedelldays]

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

[bridge too far]

These bankers *tch*

They're all crooks ;)

[buctootim]

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.

[suewhistle]

My credit card limit is more than my gross annual pension!!

[Bearsy]

If the op is serious i am willing to help him use up the excess credit. Send me pm.

[bridge too far]

My credit card limit is more than my gross annual pension!!

Me too!

[suewhistle]

Fancy a shopping trip in August?

[bridge too far]

Fancy a shopping trip in August?

To special shops for poor pensioners?

[Doctoroncall]

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.

[trousers]

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...?

[Verbal]

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.

[buctootim]

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.