'I had to call my bank to cancel huge credit limit increase - I don't want it!'
Consumer journo Wendy Knowler has been getting complaints about clients' credit card limits being increased without their consent.
The banks like to portray it as 'we're doing you a favour, rewarding you for good behaviour... We're going to throw you another 25% credit line'... It tends to happen around now in the buildup to Christmas...
Wendy Knowler, Consumer journalist
I remember the days when credit cards were given away like Smarties... and it led to a crisis of credit because people went completely mad! I though it had all been sorted out.
Bruce Whitfield, The Money Show host
Banks taking it upon themselves to increase clients' limit on their credit cards encourages and enables people to spend more says Knowler.
Some customers don't take kindly to this 'favour' because they've chosen to set their credit limit where it's reasonable and appropriate for them.

Knowler follows up on the case of Discovery Bank client Graham Thompson who was downright angry when he received a letter informing him of a "huge" increase in his credit limit.
They’ve IMPOSED a credit limit increase of 24%, which was not requested and was not wanted... The most irritating thing about it is that I have to call them to cancel the credit limit increase (which I have done).
Graham Thompson
Discovery Bank told Knowler in its response that unilateral limit increase consent was provided by the client on 25 Jan 2021, when he apparently ticked the appropriate response on its banking app.
Mr Thompson’s consent is still active. To avoid this having to happen again, next October, he will need to call our call centre and request consent be revoked."
Discovery Bank
Thompson says it's very unlikely that he would have agreed to that clause, but he cannot prove that he did not tick the box.
By close of business on Thursday, Knowler had not received a response from Discovery Bank about proof of the client's consent. She promises an update next week.
For all the detail, listen to the conversation below:
This article first appeared on CapeTalk : 'I had to call my bank to cancel huge credit limit increase - I don't want it!'
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