Tweet
Hello to all,
This is my first post on any forum ever so please bear with me whilst I find my feet.
Type of account - Credit card
Date commenced - 2001
Approx balance - £15,000
Date last paid - May 2015
Are you on arrangement or not paying- Not paying
Status – In arrears
Account owner – OC
I'm considering UE route so I'm guessing that CCA Request is the first thing I should do. I have ignored all calls from OC as per recommendations on this site.
So, CC taken out 2001 with a small limit and about 2 years later asked for increase in credit limit which was accepted. This is the only time that I asked but credit limit was increased by lender by a couple of hundred pounds a year until 2009 (approx. £3,000). Since then lender began to increase limits by larger and larger amounts and it now stands at £15,000+. In 2009 I received a CCJ for utility bill. I was and still am suffering with Anxiety, Panic Attacks and Depression and was also a full time carer and on benefits.
So my question is: Was the lender required to make checks before increasing my credit limit?
The following is an excerpt is taken from "The UK Cards association" website,
2. Credit Card Limit Increases Best Practice Guidelines
2.4 Guidelines for Responsible Lending
Card issuers should take an active approach to ensure responsible lending.
General Checks for Credit Limit Increases
Issuers should undertake appropriate checks to assess a customer’s ability to repay and overall creditworthiness before increasing a credit limit. These
checks should include reference to information from credit reference agencies plus at least one of the following three points:
The customer’s income and financial commitments
How they have handled their finances in the past
Internal credit scoring techniques
Does this organisation have any teeth? Is this something that I could argue with lender?
This is my first post on any forum ever so please bear with me whilst I find my feet.
Type of account - Credit card
Date commenced - 2001
Approx balance - £15,000
Date last paid - May 2015
Are you on arrangement or not paying- Not paying
Status – In arrears
Account owner – OC
I'm considering UE route so I'm guessing that CCA Request is the first thing I should do. I have ignored all calls from OC as per recommendations on this site.
So, CC taken out 2001 with a small limit and about 2 years later asked for increase in credit limit which was accepted. This is the only time that I asked but credit limit was increased by lender by a couple of hundred pounds a year until 2009 (approx. £3,000). Since then lender began to increase limits by larger and larger amounts and it now stands at £15,000+. In 2009 I received a CCJ for utility bill. I was and still am suffering with Anxiety, Panic Attacks and Depression and was also a full time carer and on benefits.
So my question is: Was the lender required to make checks before increasing my credit limit?
The following is an excerpt is taken from "The UK Cards association" website,
2. Credit Card Limit Increases Best Practice Guidelines
2.4 Guidelines for Responsible Lending
Card issuers should take an active approach to ensure responsible lending.
General Checks for Credit Limit Increases
Issuers should undertake appropriate checks to assess a customer’s ability to repay and overall creditworthiness before increasing a credit limit. These
checks should include reference to information from credit reference agencies plus at least one of the following three points:
The customer’s income and financial commitments
How they have handled their finances in the past
Internal credit scoring techniques
Does this organisation have any teeth? Is this something that I could argue with lender?
Comment