Credit card limit

paulali

Hi
Can any help i have a credit card with lloyds and when it started i had a limit of £1000 about 4 years ago which i used when made unemployed and the bank kept upping my limit which now my credit limit is £15,000 the limit was upped with out my consent .i currantly owe approx £10,000 now and im really struggling to pay it off . Can i do something about the interest?

YorkshireBoy

paulali wrote: »

the limit was upped with out my consent .

They didn't need your "consent" to raise the limit.

Can i do something about the interest?

Not if you want to preserve your credit file, assuming it's not been trashed by late/missed payments on this and other accounts you hold?

Are you working now?
Have you tried to shift (some of) the balance onto another card, perhaps for 0%?
What's the interest rate on the card?...and if they've written to increase it recently (last year or so) have you exercised your right to opt out and stop using the account?

Spartacus_Mills

paulali wrote: »

Hi
Can any help i have a credit card with lloyds and when it started i had a limit of £1000 about 4 years ago which i used when made unemployed and the bank kept upping my limit which now my credit limit is £15,000 the limit was upped with out my consent .i currantly owe approx £10,000 now and im really struggling to pay it off . Can i do something about the interest?

Anyway the best advice on the interest has come from the second post in this thread. Try to transfer it to a card with a zero percent interest introductory offer.

stephane_2

paulali wrote: »

Hi
Can any help i have a credit card with lloyds and when it started i had a limit of £1000 about 4 years ago which i used when made unemployed and the bank kept upping my limit which now my credit limit is £15,000 the limit was upped with out my consent .i currantly owe approx £10,000 now and im really struggling to pay it off . Can i do something about the interest?

They may have upped your limit without your consent (which they don't have to by the way).... But that did not stop you spending the money given!!
You best bet is transfer debt onto a 0% card but unless you have a very generous income, you may find it difficult to get another card.

opinions4u

paulali wrote: »

the bank kept upping my limit which now my credit limit is £15,000 the limit was upped with out my consent

You have options when they change your limit.

1. Ring them up and say "no thanks".
2. Accept the limit but never use it.
3. Spend at will within the increased limit.

While I hope other posters in the thread help you find an agreeable and fair solution, please take responsibility for your own actions and your own decision to use the credit card after the limit was increased.

By the way, you did give your consent when you agreed to the terms and conditions.

CREDIT LIMIT
We will set a credit limit and tell you what it is after we have opened your account. We may change it in the future. We’ll give you the new credit limit in writing.

chattychappy

You consented to their setting and altering your limit when you applied for the card.

Inactive

The upper limit was not a spending target.

Nobody forced you to spend the money.

jonesMUFCforever

Another time waster by the looks of it.
He was on the boards until 10.47am plenty of time to respond to all bar the last 2 posts - if he was genuine why not come back and respond?