Help limit increase never happened

Diashan

Ok I have a TSB credit card with a £1700 limit. I received a letter from them on the 20th of September saying the limit was increasing to £2200 on my next statement date. Now my statements are on the 22nd of every month so, I would assume that this change would have taken place on the September statement or the October one at the latest. I have a standing order in place to make sure more than the minimum payment is paid, which is normally paid on the 27th of the month when my pay comes in.

Now the problem I checked my online banking early this morning to make sure everything was ok which with the rarity that I use this card is not very often. I had recently paid for a couple of unforeseen things on the card as that is what I keep it for and online it still has the old limit and now I am overdrawn. I phoned the bank first thing this morning to try and find out what is going on. The lady on the phone said that she was not able to increase my limit to the one in the letter sent to me. She did however refund the £12 charge for going over my limit, which shouldn't have been the case if they had done as they said they would. She also said I would have to phone back on a weekday as the department that I need to speak to now is only open then.

So in summary, what course of action do I have as the letter states they where increasing it by my next statement date. Which has not happened now that I have checked. So in my mind I am not at fault for what has happened. Though I guess I have to wait until Monday to find out.

Any thoughts on this?

Regards
Dan

CLAPTON

you have done well to get the £12 back

I would suggest you pay sufficient in immediately to get yourself back under the credit limit and then try talking to them next week

It was a little unwise not to check your credit limit before spending but that's a lesson for the future

Diashan

That is what I have done is send a payment bringing it back under the limit. I suppose it was silly to think that they would have done as they said they were going to do, and I should have checked the limit. Though I would have thought that they would have sent out a letter saying that they had changed their minds if the increase was not going to take place.

If the person on the phone can not fix it on monday is it worth asking to speak with a manager or someone higher up to resolve this? The annoying thing was the charge was higher than the over spend and also on the online banking the transaction dates were for tomorrow? Though now when I go on there it says they are having issues and working to resolve them and I can not see any transactions.

chanz4

It would be lending who could only over ride

Atidi

Diashan wrote: »

Ok I have a TSB credit card with a £1700 limit. I received a letter from them on the 20th of September saying the limit was increasing to £2200 on my next statement date. Now my statements are on the 22nd of every month so, I would assume that this change would have taken place on the September statement or the October one at the latest. I have a standing order in place to make sure more than the minimum payment is paid, which is normally paid on the 27th of the month when my pay comes in.

Now the problem I checked my online banking early this morning to make sure everything was ok which with the rarity that I use this card is not very often. I had recently paid for a couple of unforeseen things on the card as that is what I keep it for and online it still has the old limit and now I am overdrawn. I phoned the bank first thing this morning to try and find out what is going on. The lady on the phone said that she was not able to increase my limit to the one in the letter sent to me. She did however refund the £12 charge for going over my limit, which shouldn't have been the case if they had done as they said they would. She also said I would have to phone back on a weekday as the department that I need to speak to now is only open then.

So in summary, what course of action do I have as the letter states they where increasing it by my next statement date. Which has not happened now that I have checked. So in my mind I am not at fault for what has happened. Though I guess I have to wait until Monday to find out.

Any thoughts on this?

Regards
Dan

So they wrote to you to say they would increase the limit from your next statement?

How odd. Usually increases in credit limits are applied immediately.

Anyhow, when was your next statement after the letter and what was the credit limit showing on that statement?

[Deleted User]

Atidi wrote: »

So they wrote to you to say they would increase the limit from your next statement?

How odd. Usually increases in credit limits are applied immediately.

Not since the new regs a couple of years backs. Customers now need 30 days notice and the chance to opt out.

They can only be done immediately if the customer requests it.

Atidi

Deleted_User wrote: »

Not since the new regs a couple of years backs. Customers now need 30 days notice and the chance to opt out.

They can only be done immediately if the customer requests it.

Yes, you are correct. I assumed the OP had requested this increase.

If not, then a letter from the 20th September certainly wouldn't get an increase applied to the account on 22nd September, and may not even get applied on 22nd October (if possible postal delays are considered) Usually such a letter would give a precise date the increase would apply from (if not otherwise rejected by the customer) rather than a vague 'next statement' timing.



Allow me to enquire of the OP again:

When was your next statement after the letter and what was the credit limit showing on that statement?

MABLE

Atidi wrote: »

So they wrote to you to say they would increase the limit from your next statement?

How odd. Usually increases in credit limits are applied immediately.

Tesco wanted to increase my limit by £2k and gave me over a months notice and also gave me the option to keep my present limit.

So based on that some credit card providers do give you notice.

Cash_Flow

MABLE wrote: »

Tesco wanted to increase my limit by £2k and gave me over a months notice and also gave me the option to keep my present limit.

So based on that some credit card providers do give you notice.

I think credit card providers are now required to give you a minimum of 30 or 60 days notice now, can't remember which. Unless you request the limit increase yourself in which case it can be applied straight away.