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    credit card limits how does it work?

    I've never applied to up the limit on my credit card but have found before that on viewing statements it has been increased

    Just wondering the banks ruling on this,is it when the outstanding balance is low the limit is increased? is it a regular ie yearly thing to increase the limit?

    just curious as to how it works as started off with a low limit and its now scaringly high!

    10 Comments

    If you are paying every month and its regular, it will be increased, but I would have thought that they are supposed to inform you. Best bet is to phone them or email asking how it works.

    Banned

    The more you borrow the higher it goes, though I rang and lowered my limit. Not that I borrow money on a credit card...that's what dumb people do.

    I dont think they can just give you more credit without your concent,I had this problem and now struggling to pay it back but arguing Irresponsible lending!

    Original Poster

    Thanks for the replies,will have a chat with them when i do some banking on tuesday,ive never been informed of the limit being raised

    They increase your limit if they trust you to pay it back. They sometimes inform you in writing. And if you don't want it being increased, u can just phone them and ask.

    Banned

    srthedaddy;8722965

    I dont think they can just give you more credit without your concent,I … I dont think they can just give you more credit without your concent,I had this problem and now struggling to pay it back but arguing Irresponsible lending!



    They aren't giving you credit, just increasing the amount you can borrow :thinking:

    and :lol: at irresponsible lending, you didn't have to use it. Millions of people get by just fine, just because I have a £10,000 limit doesn't mean I have to go buy myself a car.

    They used to keep upping mine but I told them to lower it to £3000. That way if it gets stolen/hacked then the limit will be reached soon and the alarm bells will ring much quicker. You can always up it for a one-off big purchase.

    Banned

    srthedaddy;8722965

    I dont think they can just give you more credit without your concent,I … I dont think they can just give you more credit without your concent,I had this problem and now struggling to pay it back but arguing Irresponsible lending!



    Not your irresponsible spending then? Are you Gordon Brown?

    srthedaddy;8722965

    I dont think they can just give you more credit without your concent,I … I dont think they can just give you more credit without your concent,I had this problem and now struggling to pay it back but arguing Irresponsible lending!



    Oh lawd.

    brb spending the free money the bank gave to me.

    srthedaddy;8722965

    I dont think they can just give you more credit without your concent,I … I dont think they can just give you more credit without your concent,I had this problem and now struggling to pay it back but arguing Irresponsible lending!



    :x stupid thing to stay, they didnt force you to spend it. Irresponsible on your part i say!
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