Two in five Scottish credit card holders had limits increased without asking

Credit card companies are giving Scottish customers more credit, even though they haven’t asked for it, research from debt advice and solutions provider Debt Advisory Centre Scotland has revealed.

Some 40 per cent of Scottish credit card holders had their limits increased in the past year, despite not requesting this from their credit card company, the research shows.

Of those consumers whose limits were raised, only 9.3 per cent contacted their lender to reject the increase.

Across the whole UK, the figures show that those aged between 25-34 are most likely to be targeted, with 54 per cent seeing their limits increase. In comparison, those aged over 55 are least likely to have this happen, with 60 per cent saying their limits have not changed.

Credit card holders in the Capital are most likely to have their spending limits increased without asking. Some 58 per cent of Londoners with a credit card say their limits were automatically increased. Of those, just 17 per cent contacted their credit card company to decline the increase.

After London, those in the West Midlands (50 per cent) and the North East (42 per cent) were most likely to find their limited had unexpectedly increased.

Ian Williams, a spokesman for Debt Advisory Centre Scotland, said: “Credit cards can be a great financial help when used properly. However, they can also be a way for consumers to find themselves in unmanageable debt. While it might feel comforting to have available credit, it would be ill-advised for a consumer to take on more credit than they are able to pay back, even if their credit card provider feels they can handle it.

“If anyone finds themselves in financial difficulty, they should seek help and advice from a reputable service.”