Can credit card companies raise your limit without permission?

Question

can they do this? Where do I find out?

Answer 1

http://debtcash.blogspot.com/

Answer 2

Yes, they do it all the time.  It actually helps your credit score.  However, you can always call them and ask them to rescind it.

Answer 3

Yes, they raised the limit on my account.  I do not want that temptation, and I don't want someone to be able to charge such a high amount.  So I called and told them to lower it to the original limit, and they did lower it.

Answer 4

If you have good credit they will try to entice you to use it by increasing your credit limit.  But you should never look at your credit limit as a spending goal.

A limit increase does not subtract from your credit score, it actually helps it.  Because one factor considered in your score is how much of your available credit you are using. And if you are using any credit at all, with an increased credit limit you would effectively be using a lower percentage (if you use it wisely and always pay it on time).

Answer 5

When you apply for a credit card you are applying for a line of credit, not a specific dollar amount.  When you are a good customer who makes payments on time, your limit gets raised.  Of course they can raise your limit.  You can call and ask them to reduce it if you wish to, but they will likely raise it again in the future.      

Answer 6

Yes they can. You can call them and ask them to lower it though.