Credit limit increase invitation

[Foreigner]

I got an SMS to say from 1 July, to receive a credit limit increase invitation, I would need to respond with a "Y" to the message. "Note we're not obliged to agree to increase your credit limit as all requests are subject to approval."

 

[trippin_the_rift]

received it as well. much easier than a letter

 

[Foreigner]

received it as well. much easier than a letter

Yep, and also better than discussions over the phone. Good thinking by Citi...a step ahead of competition.

 

[kpc]

I replied "Y" to my SMS...if and when I'm offered a credit limit increase, I can always decline..

 

[JohnJ]

I received this and expected it to be a scam - next they'll be asking you for your credit card details to confirm the limit increase!

 

[Foreigner]

I received this and expected it to be a scam - next they'll be asking you for your credit card details to confirm the limit increase!

I think with SMS, Citi will hope to quickly narrow the target group of customers, then work on them. It also saves Citi from spending labour hours in calling customers, identifying them and singing the script. And having emails go unanswered or into junk mail folders.

 

[Mal]

I got an SMS to say from 1 July, to receive a credit limit increase invitation, I would need to respond with a "Y" to the message. "Note we're not obliged to agree to increase your credit limit as all requests are subject to approval."

Nearly every bank is doing something similar. New Credit laws are coming in where unsolicited credit increase invites are no longer ok. By opting in before that date, they can offer you increases when they want.

 

[Flying Fox]

I got the SMS too.

However, I have 2x Citibank cards so I'm not sure which one it relates to.

 

[greenfrog86]

Nearly every bank is doing something similar. New Credit laws are coming in where unsolicited credit increase invites are no longer ok. By opting in before that date, they can offer you increases when they want.

Too right... This is the first organisation that has texted me for this, however BankWest has put it as a link in Internet Banking, 28 Degrees I think put it on a statement or online or something (it could also have been on my last credit increase offer, saying that I needed to opt in for future offers).

I'm not sure if it was Citibank, however I thought they brought it up when I changed my card type last month with them... So much for telling them once!

 

[JohnK]

Something to do with new laws effective 1 July.

Personally I would prefer to receive offers for credit cards, credit limit increases, balance transfers etc without having to opt-in. I do not like this new law....

 

[Saji]

I replied Y and infact received an increase in my limit within 3 hours..from the bank that nevers sleeps....

 

[Foreigner]

I replied Y and infact received an increase in my limit within 3 hours..from the bank that nevers sleeps....

How did you 'receive' the increase?

 

[cove]

I always wonder why my credit limits on credit cards tend to be higher than my partners limits.
With Citi hers is 35k less and we have taxable incomes that are split 50/50. It is not just Citi as Westpac have done this over many years. With the SMS Mrscove got one and I didn't so she answered Y.

 

[Foreigner]

I always wonder why my credit limits on credit cards tend to be higher than my partners limits.
With Citi hers is 35k less and we have taxable incomes that are split 50/50. It is not just Citi as Westpac have done this over many years. With the SMS Mrscove got one and I didn't so she answered Y.

I reckon Citi intends to bring Mrs C's limit in line.

 

[Fantic125]

I received the sms and opted out by not replying. I continually get offers to increase my cc limits, but I know how much available spend I need and I know I don't need a larger potential liability than I already have, just because it's been offerred.

 

[bry4ntt]

I replied Y and infact received an increase in my limit within 3 hours..from the bank that nevers sleeps....

How did you receive the increase?
I opted in, but nothing for me

 

[DC3]

I replied Y and infact received an increase in my limit within 3 hours..from the bank that nevers sleeps....

How did you 'receive' the increase?

How did you receive the increase?
I opted in, but nothing for me

So, was there any update on this?