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Credit Card Limits

  • 18-08-2006 09:21AM
    #1
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭


    Quick question here.

    I got a letter recently from the bank upping my credit card limit by €2k. However, I was under the impression that the banks could not automatically up your limit anymore. Can anyone clarify?


Comments

  • #2
    jaggeh
    Registered Users, Registered Users 2 Posts: 2,997 ✭✭✭jaggeh


    they can unless you tell them not to. its like pre-approving you for a loan.
    hey when i ordered a credit card in january they sent me two :p


  • #3
    BrianD
    Closed Accounts Posts: 7,221 ✭✭✭BrianD


    I thought it was the other way around with the new regulations. No pre-approved loan promotions and no upping the cc limit unless you asked for it. In the past the didn't even send a letter ...they just upped the limit.


  • #4
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    just asked some colleagues at work from accounting and one thought that the new rules had yet to come into effect?


  • #5
    BC
    Registered Users, Registered Users 2 Posts: 1,326 ✭✭✭BC


    I'm still getting letters about pre-approved loans from my CC company so i assumed the legislation wasn't in effect yet.


  • #6
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    dudara wrote:
    just asked some colleagues at work from accounting and one thought that the new rules had yet to come into effect?

    I concur with dudara, check it out on www.ifsra.ie and poke around the consumer bit, u can also email the regulator with ur Question


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  • #7
    Savman
    Closed Accounts Posts: 8,323 ✭✭✭Savman


    Yep I think its only new rules about them being unable to up your limit, may not be in force yet.


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