Sunday, 10 February 2013

The journey to a debt free life

is full of pitfalls, obstacles and temptations.

This month we have started to pay down the two credit cards that WILL be paid off later this year.  DaddyHen has snowballed a loan, CC#1 (both of which are fully paid off) & the regular payment to CC#3 and paid £850 to Mr B’card this month.
In the post yesterday morning was a letter from Mr B’Card in big bold letters – Important News about your B’card credit limit.  Baring in mind, that the card was last used well over a year ago, minimum +£50 has been paid each month, our initial thought was they were going to reduce – silly us

Good news … … your credit limit will be increased from £10,900 to £12,000.  NO NO NO NO 

The letter goes on to say ‘ text KEEP to  blah blah blah if you want to stay at the current limit.  If DaddyHen does nothing then on 19th March the increase will happen.
What annoys me is it should be the other way round; DaddyHen should text if he wants the increase NOT text to stay at the same credit limit. Credit limit increases should be ‘opt-in’ not ‘opt-out’.
Needless to say a quick text was sent – roll on December when the card will be paid off.
Ohh another weekend of free listings on ebay – I have been busy sorting out a few cupboards


MummyHen X


  1. Well done both :-) I used to have to call and reduce my limit down every year as they kept increasing it.....right up to the point where they realised that I hadn't used it for 3 years whereupon they wrote me a terse note saying they were taking my card away (clearly as they were making no money from me) Ho Hum! May you speedily reach the point where you receive a similar one:-)

  2. It is so annoying when they do this isnt it? No wonder some people are tempted. Well done on your debt busting!

  3. Excellent! Can you afford to come and see us now???????

  4. The banks will benefit from raising the credit limit, so it really goes the other way around. You will have to be the one to notify them if you want to have the same credit limit because if not, they'll increase it automatically.