drogon Posted March 26, 2009 Report Share Posted March 26, 2009 I recently switched bank and I am stuck with several CC and one of them with a spending limit of 35K euros....which is a ridiculously high limit. Anyone aware of the legal possibilities/consummer's rights as I wish to seriously lower the spending limit This credit card has great advantages (5% discount on all my spendings, first class lounge access etc...) but the limit is really over the top. I asked the bank and they refuse to do so as they see no problem with that. -> me I see a real problem which is if by fate my CC gets stolen -> I really don't wish to end up with a bill of 35K euros.... (which would require several months of salary to even pay it) Thanks for advices (and I don't intend to change bank again as this is the fourth one in Spain already) Link to comment Share on other sites More sharing options...
zzzz Posted March 26, 2009 Report Share Posted March 26, 2009 In USA, you are not liable for charges to your CC if it is stolen except for $50 per law. It's probably the same where yoy are. Link to comment Share on other sites More sharing options...
iuytrede Posted March 26, 2009 Report Share Posted March 26, 2009 no its probably not (he ios in Europe, isnt he?) in Germany u r liable for pretty much all charges on ur CC, until u die. The CC companies dont advertise this, but u can try. Link to comment Share on other sites More sharing options...
drogon Posted March 26, 2009 Author Report Share Posted March 26, 2009 Exactly, except if I can prove (and it is sometimes difficult) that I couldn't be responsible for the charges... Happened to me once in the past, was quite easy to prove it as I never set foot in Ankara... But let's take a possible case. I travel to bKK in June, CC is stolen and then immediately used to buy quite a few things etc... How could I easily deny the charges... Hence my question as this really upsets me a bit. Thanks Link to comment Share on other sites More sharing options...
chelseafan Posted March 26, 2009 Report Share Posted March 26, 2009 I am surprised that the bank wont lower the limit. In the UK, if you ask for the limit to be lowered they are obliged to do so. You are also generally protected for fraud, although the banks are tightening up by putting the onus on you to prove you were not negligent rather than historically they had to prove you were. I have stupidly high amounts on my cards too. If I feel it gets out of hand (they seem to raise the limit every 6 months) I can just phone them up to lower it again.... Link to comment Share on other sites More sharing options...
CTO Posted March 27, 2009 Report Share Posted March 27, 2009 I too am surprised bank won't lower limit - odd Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted March 27, 2009 Report Share Posted March 27, 2009 Exactly, except if I can prove (and it is sometimes difficult) that I couldn't be responsible for the charges... Happened to me once in the past, was quite easy to prove it as I never set foot in Ankara... But let's take a possible case. I travel to bKK in June, CC is stolen and then immediately used to buy quite a few things etc... How could I easily deny the charges... Hence my question as this really upsets me a bit. Thanks You don't need to have the card stolen. Your name, the credit card number, expiration date, and the 3 digit code on the back is about all that is needed to empty the account. But why should somebody do that? Better yet, just complete the theft of your identity and take out a lot of credit in your name and then cash out. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.