Are credit card issuers still increasing limits

Andybez38

With the so called credit crunch. Are card suppliers still automaticly raising your credit limits, without asking for increase?

How often do they access your limits for good account conduct etc. Intrested to hear if you have had your limits increased without asking, or lowered without notice.

soolin

I have a Tesco card I just use as a spare and it had a really low limit of £400 on it which was fine for odds and ends. I recently noticed on my statement that they doubled it to £800 back in November, but they never notified me in any way. My usual balance on it was around the £50-£100 mark which was paid off every month without fail..so I wonder if they were trying to entice me to spend more..but that wouldn't explain why they didn't tell me about the increase

christhesparky_2

Barclaycard recently doubled the wifes limit without being asked, strange as it is very rarely used

kizzykizzywizzy

Yes they are my Lloyds limit has gone up to a mad £11,400, from an already mad £10,000. I've only just started working 2 weeks ago, after not working for nearly eight years as looking after the children until they both started school, it's no wonder people get in trouble. Also I lowered my overdraft limit before Xmas to £1,500 & then after Xmas they raised it to £3,500, I don't even use this facility anymore! Need to go to the bank & lower both of these, but not sure whether even lowering a limit shows on a credit report as a credit check, as need to remortgage soon, but also don't want it to show as me having so much available credit!! Drives me mad

CannyJock

kizzykizzywizzy wrote: »

I lowered my overdraft limit before Xmas to £1,500 & then after Xmas they raised it to £3,500

That sounds like an admin error at their side.

With credit cards, I think if you request a reduction in your limit it turns off the periodic review and increase procedure.

MABLE

CannyJock wrote: »

That sounds like an admin error at their side.

With credit cards, I think if you request a reduction in your limit it turns off the periodic review and increase procedure.

I have a Barclaycard and asked them to reduce the limit down to £2,700 as I have a LOB transfer of 2.9 percent and I knew I would not take advantage of the unused amount. However I checked my statement a few months ago and they have increased it beyond my original limit to £4,200 without any reference to me. Therefore with me they did not turn off a periodic review.

Bismarck

This is only a hunch but after a couple of increases to my Barclaycard limits recently ( to silly amounts) I wonder if clearing them to zero makes them confident that you're not in the deep and smelly stuff and safe for some more credit. I had to clear them to zero as I was out of the offer periods I was on and then they increased both limits by £2k within 4 weeks of each other....maybe it's just coincidence. Other limits haven't changed either way for ages.

CannyJock

MABLE wrote: »

I have a Barclaycard and asked them to reduce the limit down to £2,700 as I have a LOB transfer of 2.9 percent and I knew I would not take advantage of the unused amount. However I checked my statement a few months ago and they have increased it beyond my original limit to £4,200 without any reference to me. Therefore with me they did not turn off a periodic review.

Interesting to know, is the LOB transfer still possible with the increased limit or have they done this to draw you into spending more money on the card at their standard rates then using the allocation of payments to stuff you by putting the payments against the LOB and letting the standard spend rack up the interest?

If you can use the full amount for a LOB deal then they're practically begging you to stooze it and it would be rude to refuse

PROLIANT

Lucky people, I cant request my card provider capital one for an increase, I have wait to see if I have been specially selected for one, not so bad though vanquis or Barclaycard wouldn’t give me a card, and I don’t have bad credit anymore, just lots of searches in a short period of time, no missed payments etc so I long the day when I can have a card with low apr etc.

MABLE

CannyJock wrote: »

Interesting to know, is the LOB transfer still possible with the increased limit or have they done this to draw you into spending more money on the card at their standard rates then using the allocation of payments to stuff you by putting the payments against the LOB and letting the standard spend rack up the interest?

If you can use the full amount for a LOB deal then they're practically begging you to stooze it and it would be rude to refuse

Since they have increased the limit I keep getting letters and cheques from them offering me 6.9% lob or 0% for six month with the usual 3% fee. I would obviously not touch any of these deals because of the 2.9% deal.

The odd thing is I have a Barclaycard Mastercard with a limit of £5,500 and have never used it. However I never get any incentives to get me to use this card.

Also I have a Citi card with a limit of £8,500 and they keep sending me offers. The lastest one is 5.8% lob transfer or can have cash advances at the same rate and will not change until the cash advance is paid off.

Still thinking whether I can utilise Citi's offer.

NickX

The Barclaycard stuff is very interesting. I currently have a Barclaycard Platinum which is BT stoozed until the end of the year.

They have tried every trick in the book to get me to spend on the card (hence incurring the classic credit card trick of having to pay interest on one of the balances). Recently they even offered me fee free cash advances, and increased my limit by £3000 without any request whatsover.

It is interesting to hear of others who have experienced similar.