Automated credit limit increases

14
Found 28th Mar 2015
How do I stop companies from increasing my credit limits without my consent?

Recently closed several credit accounts including my main credit card so my score would increase so I can get a better credit card in the near future.

Very have increased my credit limit by £950 today without asking me or notifying me I just signed in to a surprise.

Aqua did it too now long ago. My credit limit was £600 and they increased it to £1200 and sent me a letter telling me they did it.

This is all good and well but I wanna decrease my available credit not increase it. I have £5450 credit limit with very.

There is absolutely no need.

How do I stop automated increases?
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with my credit cards they send me a letter telling me they are increasing it and it will be automatically done on a specific date unless I ring up
You could contact them and seek to have it reduced again
Actually you shouldn't get the limits cut.....credit scoring by most financial institutions look at the way you have managed your accounts, payments on time, not going over your limit amongst other things, one of those is seeing that you are able to be trusted with bigger limits and not abuse it by being almost " maxed " out all the time, so in other words the bigger the limit makes you look better just don't use it, stick to your normal pattern of spending.
^^^^ this. And also, if you have a £1000 limit and spend £200, you score will be based on 20% use of you credit. If you have a £5000 limit and spend £200, youll used 4% of you credit. Which do you think looks better to a company thinking of lending you money?

Don't cut the limits, just the number of accounts, no more than two and no more than 25% usage of available credit each month and you'll be fine.
Just phone them and ask them to put back to what it was , try to avoid having loads of credit as it won't help you when applying for things in the future.
I'm going to sound like an **** but thats never stopped me before.

Since when has common sense gone out the window??? as cliosport65 says phone them. Its as simple as that.

Also im not sure why stmike thinks you should keep the limit high but spend low. I used to have a limit of £10500 on one card which was used regularly but paid off each month. I kept upping the limit very 3 months too see how high i could go before being told no. I then went to take out another card with a 0% on purchases offer with another company as i wanted to spend a couple of grand and wouldn't be able to pay it back in a month and was declined. Couldn't understand why and i queried this the company said it was most likely down to the fact that i had a card with someone else (my original card) with a large credit limit.
Original Poster
Hi guys sorry i have not been online since i posted, i phoned them up like cliosport65 suggested and they have turned off automated credit limit increases. Cheers for the answers guys.
Original Poster
mclovin9091

I'm going to sound like an **** but thats never stopped me before.Since … I'm going to sound like an **** but thats never stopped me before.Since when has common sense gone out the window??? as cliosport65 says phone them. Its as simple as that. Also im not sure why stmike thinks you should keep the limit high but spend low. I used to have a limit of £10500 on one card which was used regularly but paid off each month. I kept upping the limit very 3 months too see how high i could go before being told no. I then went to take out another card with a 0% on purchases offer with another company as i wanted to spend a couple of grand and wouldn't be able to pay it back in a month and was declined. Couldn't understand why and i queried this the company said it was most likely down to the fact that i had a card with someone else (my original card) with a large credit limit.



I have been closing accounts as i am wanting a Halifax clarity credit card and they declined me, i asked them why i was declined and they said i had too much available credit and the lady recommended i close some inactive accounts and re apply in 6 months so i plan to.

The problem is i started closing accounts in January and last month Aqua increased my limit, and this month Very increased my limit which isnt helping me lower my available credit so i can get a new credit card if you get me?
Glad you got that sorted as I've been wondering about this too. Thankfully, I've already got the Clarity card and recommend it
Cutting your available credit will not improve your credit score, quite the opposite infact.
Increasing credit limit won't improve your credit score nor will it decrease it, people thinking too hard.
Edited by: "MR1123" 29th Mar 2015
could you please stop my increases for the future
thank you
jacky emert
mod
aquaccard

could you please stop my increases for the futurethank you jacky emert


Hi
Can you contact the companies in question as they won't see this thread or act upon it?
Thanks
New account probably spam
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