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Oh NOOOO credit card

(25 Posts)
BulletFox Sat 21-Oct-17 08:30:53

I just received a letter from my credit card company and they've put up my limit by £1000. Apparently I 'manage it responsibly'.

I don't in the slightest. I have very little income at present, huge expenses coming up and this will be an utter temptation.

I do always meet minimum payments or pay off in full if I can, but I can be a little random about purchases e.g. I really want a £400 rug confused

BulletFox Sat 21-Oct-17 08:32:02

I looked at the letter and first thought was 'oh no', second was 'rug'

Daisymay2 Sat 21-Oct-17 08:34:03

Ring them and ask for it to be reduced. Tell them they should have asked if you want an increase. I always get asked..

BulletFox Sat 21-Oct-17 08:35:00

The temptation though!

IfYouGoDownToTheWoodsToday Sat 21-Oct-17 08:35:54

Agree with Daisy.

Right no them up now! And tell them you don't want to be sent letter like that again.

SilverdaleGlen Sat 21-Oct-17 08:36:54

Cut it up.

From experience of an ex cut the damn thing up.

EssentialHummus Sat 21-Oct-17 08:37:22

After years of always being responsible, paying off in full each month etc the only time I was offered a raised credit limit was when we were in the throes of a renovation and I was using every source of credit I had to the max.

It’s a trap. They see that you’d like to use more credit, they give you more credit, you end up making the bare minimum of payments and they get more money (interest) from you.

IfYouGoDownToTheWoodsToday Sat 21-Oct-17 08:38:25

Yes there is temptation but what about the rest if your post "very little income at present and huge expenses coming up"?

You're not a child in a sweet shop. You're a grown woman! Phone them up.

BulletFox Sat 21-Oct-17 08:40:02

Thank you all.

I'll need it for a couple of months so I'll hang onto it...I'll hold off on the rug though.

It's silk knotted and so pretty and I've been daydreaming for months about how it would feel on bare toes. But I'll resist it for now.

TillyVonMilly Sat 21-Oct-17 08:41:59

Credit cards can be brilliant or can be th work of the devil, depending who’s hands they’re in. If you can access your account online, you should be able to reduce your limit, if not ring and ask to lower it. They want you to spend more than you can afford, it’s how they make money.

BulletFox Sat 21-Oct-17 08:42:13

IfYouGoDown grin

I like your analogy about kid in a sweet shop! I guess this is how people get into huge debt. I'd mentally shelved the rug idea the letter triggered it.

It's ok I'll be sensible.

Finola1step Sat 21-Oct-17 08:44:45

Funny that, increasing your credit limit with Xmas not far off. How kind of them.

IMissGin Sat 21-Oct-17 08:46:31

Let’s see the rug! <misses ping entirely>

Caulk Sat 21-Oct-17 08:46:33

Put it in the freezer. You can get it out in a few months when you need it

IMissGin Sat 21-Oct-17 08:46:40

Point

IfYouGoDownToTheWoodsToday Sat 21-Oct-17 08:47:43

Good for you Bullet!

GeorgeTheHamster Sat 21-Oct-17 08:50:22

Don't hang on to it for a couple of months. You don't need an extra thousand pounds of debt

LaurieFairyCake Sat 21-Oct-17 08:51:39

Mine was put up to £19,000 last week

Because I’ve been unable to pay it off in full the last 2 months.

So they think they can encourage me to spend more and pay more interest for them.

It’s like 2007 all over again...

megletthesecond Sat 21-Oct-17 08:52:01

Ring them up and tell them to reduce the limit. They increased mine once and I told them to put it back down again, they've never done it since.

Medeci Sat 21-Oct-17 08:54:05

My credit card limit was increased to a ridiculous amount, so I quickly got it reduced. I can resist the temptation to spend but really hate the thought of someone stealing my card/details and being able to get loads of money.
I can increase the limit temporarily if needed, very easy with online banking.

OddestSock Sat 21-Oct-17 08:57:59

I reduced my credit card limit to £500.
The next month they put it up to £8k.

gunsandbanjos Sat 21-Oct-17 08:58:15

My limit is increased regularly, I pay off in full and the small balance on one of the other cards I have is no interest.

Across my cards I have about £25k available, I don't spend it, but it's handy in case of disaster and my savings don't cover whatever happens.

BulletFox Sat 21-Oct-17 08:58:33

Laurie £19k??

IMissGin noooo you can't see the rug! It's mine in my imagination, no-one else can have it! (Err, or not actually me)

The next few months are critical for me as I have to move to a different area (thank god, it's driving me demented being here) and get back to work full time so I'll just hang onto it for now

fucksakefay Sat 21-Oct-17 09:01:01

But you're going to use the £1k for something else? You don't have £1k to pay back!
Ring them up and reduce it!!

BulletFox Sat 21-Oct-17 09:03:19

It's ok I'm not going to go on a bender of rugs, hookers and cocaine! I just got gobstopper eyes when the letter first came through

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