heres the deal...i get a credit card about 2 or 3 years ago they give me a R2500 limit...cool.
they increase my limit gradually over the last couple years to almost a 5 digit number without any authourity...suits me...more money to spend
well heres the problem as you know i am on a huge debit clearing mission...paid up everything now just trying to reduce all my credit limits to manageable amounts so that i dont get into same situation.
you cannot believe what a mission it is to reduce your limts...i have to go with my id book...proof of residence...a signed letter with my intentions.
i sent them a copy of my id with the letter via email while speaking to a consultant...they said they cannot accept it even though i have to answer a whole host of security questions before they will even speak to me....there is something seriously wrong with this picture.
my question is why was it not so difficult to get the limit to go so high in the first place.
credit cards are dangerous... how often does the person who is doing the transaction even look at your signiture on the card...i have been taking note of this because of all my mates who have lost big money from credit card theft...i dont let my card go out my sight anymore...the person takes the card swipes it and i take it back straight away.
i think the fnb idea of an sms as soon as a transaction is done using the card is a great idea...if they tell you it didnt go thru you get an sms proving otherwise.