Credit Card Amount Increase without my Consent

avfc82

Hi,

A while back I paid my Barclaycard credit card in full £6000. A couple months later Barclaycard decided to increase my limit from £6000 to £8950 without my consent, my credit rating at the time wasn't good and still isn't but stupidly I've used the credit card and gone up to that limit. Why would Barclaycard at the time increase my limit without notifying me and wouldn't they do some kind of credit check to say i'm a vulnerable person and that there was no benefit on increasing my credit. From a outside point view Barclaycard know farewell I was going to use that credit card again but this time I would be owing more that my previous credit amont, there right parasites for doing this! Anything I can do to make a complaint to say that they should not have upped my limit without my permission?

Thanks

grumbler

They don't need your permission.
They inform you.
Instead of spending you just tell them that you don't want it increased and they cut it back.

YorkshireBoy

avfc82 wrote: »

A couple months later Barclaycard decided to increase my limit from £6000 to £8950 without my consent...

You gave your consent by not withdrawing your consent when they offered you the opportunity to do so in the T&Cs...and almost certainly the letter/email they sent you outlining the increase.

my credit rating at the time wasn't good

They obviously thought so...otherwise why increase the limit?

and still isn't

Granted, its worse now!

but stupidly I've used the credit card and gone up to that limit.

And where do you seriously think the blame lies for that?

Why would Barclaycard at the time increase my limit

Because you were good for it! You'd just put their mind at ease by returning £6K of their money.

without notifying me

They did notify you, most likely by letter/email...and most definitely via your statement. You had ample opportunity to decline it, but you didn't!

and wouldn't they do some kind of credit check to say i'm a vulnerable person and that there was no benefit on increasing my credit.

Not necessarily. They had enough data from your Barclaycard account and were 'happy' with any monthly feeds they may get from the CRAs.

From a outside point view Barclaycard know farewell I was going to use that credit card again

How so?

but this time I would be owing more that my previous credit amont

Only if you spent it all! You didn't have to, but if you did (and you have), then they've done you a favour. I mean, nobody spends money just because they can...do they?

there right parasites for doing this!

You've allowed yourself to be bitten!

Anything I can do to make a complaint to say that they should not have upped my limit without my permission?

As stated earlier, you did give your permission.


Any complaint would be futile, and so thrown out...and also by the FOS if you escalated it.

Kim_13

Once you've cleared the balance (or got it down) this time, you should ask for the limit to be reduced to an amount you're comfortable with owing as a maximum, or cut up the card.

They make money by lending more than someone can clear in full (so they get interest) but not so much that they will default on it. Parasites essentially, but that's known when cards are taken out.

PeacefulWaters

You have the option of ringing up and saying "no thanks".

If you see a credit limit as a spending target, there's very little anybody else can do to help you.

avfc82

So do they have the option to decrease my credit without notifying me?

Paully232000

What are you trying to achieve by complaining, even if you have a valid complaint, which from what you have written i doubt?

avfc82

YorkshireBoy wrote: »

You gave your consent by not withdrawing your consent when they offered you the opportunity to do so in the T&Cs...and almost certainly the letter/email they sent you outlining the increase. They obviously thought so...otherwise why increase the limit?Granted, its worse now!And where do you seriously think the blame lies for that?Because you were good for it! You'd just put their mind at ease by returning £6K of their money.They did notify you, most likely by letter/email...and most definitely via your statement. You had ample opportunity to decline it, but you didn't!Not necessarily. They had enough data from your Barclaycard account and were 'happy' with any monthly feeds they may get from the CRAs.How so?Only if you spent it all! You didn't have to, but if you did (and you have), then they've done you a favour. I mean, nobody spends money just because they can...do they?You've allowed yourself to be bitten!As stated earlier, you did give your permission.


Any complaint would be futile, and so thrown out...and also by the FOS if you escalated it.

At what point in my paragraph did I say "As stated earlier, you did give your permission"?

boo_star

avfc82 wrote: »

So do they have the option to decrease my credit without notifying me?

Yes.

If they decide you're a risk and feel the limit is too high they will reduce it without notice. They would be stupid to say "You have a 5k limit but we're reducing it to £500 in 28 days" as people who were desperate would max the card out before the limit decrease took effect.

They'll tell you but only after the fact.

Paully232000

avfc82 wrote: »

At what point in my paragraph did I say "As stated earlier, you did give your permission"?

Yorkshireboy meant as he stated earlier in the same post

saver861

avfc82 wrote: »

So do they have the option to decrease my credit without notifying me?

Yes - just I had a limit reduced. It was about £9,000 or something and I had done a BT of about £5,000. I got a letter some months after opening it, saying they had reviewed the card and reduced the limit to just above the current balance at the time. It made no difference to me as I was using it for stoozing.

Equally I have had limits increased but they notify you either on the statement or letter.

In any case you don't have an argument. You could have asked them to reduce it back to the amount it was at the time or you could have left it and not used the credit.

Save yourself the price of a stamp as a complaint on this alone would have no grounds whatsoever.