Having just checked out my bank details online, I thought I'd examine my credit limits. There is a box on the screen which says "Ammend credit limits". Since I have a ludicrously high credit limit, I thought I'd lower it by several thousand. I was therefore slightly astonished that although I could move my credit limit "up" online, I had to phone a telephone number to "lower" it.
No wonder consumer debt is such a problem when banks make it so easy to get in to debt but make it so much harder to be careful.
Even if you did lower it, within two weeks you would probably receive a letter through the post saying how lucky you are to have your credit limit raised, again.
ReplyDeleteCredit limits need to be managed properly by banks, for everyones sake.