when Barclaycard took over my Egg cards they bumped up my limits

spaceboy

Without asking me. Is this allowed? I had reduced my Eggcard limits to £1000 each and I have checked my Barclaycard limits and they are both over £3000. I was never asked if I wanted them increased, I thought that was illegal?

AHAR

You can request a change of credit limit online.
http://www.barclaycard.co.uk/personal/getting-more/card-benefits

opinions4u

Yes they can increase your credit limit. It's not illegal for them to do this.

You can also call them and say "no thanks". That is also perfectly legal.

spaceboy

I thought they had to ask you before increasing.

Tremour-88

spaceboy wrote: »

I thought they had to ask you before increasing.

No, subprime lenders usually give you a 30-day notice, but most companies just increase your limits and expect you to notice by reading your statements

nctmum

The BIS principles mean that they have to give you 30 days notice with details of how you can opt out of the increase. However, these regulations came in in 2010 I think, so it depends when they bought the accounts, and whether the regulations were in force then. Or it could be that they just made an error when they converted systems. as the others say if you dont want the limits, ask them to drop them, but I doubt you'd get much mileage out of making a formal complaint.

Fruit_and_Nut_Case

human57 reported for spamming.

Degenerate

spaceboy wrote: »

I thought they had to ask you before increasing.

Why? A credit limit increase is just an open offer for you to borrow more. You don't have to take it up, and can explicitly refuse by requesting a credit limit reduction should you wish.

_Andy_

If you don't want the credit limit then ring them up and get it lowered. Really not sure what you're trying to get at here. Actually I can assume compensation, bleating about mis-sold/unenforceability or some such crap.

spaceboy

_Andy_ wrote: »

If you don't want the credit limit then ring them up and get it lowered. Really not sure what you're trying to get at here. Actually I can assume compensation, bleating about mis-sold/unenforceability or some such crap.

No, I just thought they were not allowed to do it. Now dont be such a ***&