Banks raise limits, issue cards

Loyal customers rewarded... without any prior intimation

Customers of at least three major banks in the UAE have informed this website that they have received an increased credit limit they did not ask for and/or a free, new credit card, again, not requested.

One bank rewarded a select batch of “loyal” customers with an increased allowance on their credit cards, without any prior intimation.

When the customer contacted the call centre agent, she was informed that an SMS had been sent out to every one informing of the increase.

Speaking to Emirates 24|7, the customer in question said,  “I never got any SMS and only when I swiped my credit card at a store did I learn that my credit limit was raised.”

“It’s strange, how, I wasn’t even asked whether I wanted more cash allowance or not,” she added.

When Emirates24|7 contacted the bank’s call centre, they confirmed the mark-up and said it was a show of “appreciation” for select customers.

“The mark-up ranges from Dh1,000 to Dh10,000,” the agent said.

He also insisted the bank had sought approval via SMS.

One customer argued: “Unrequested hikes in credit limit could tempt many to step over their budget and splurge.

“It could lead to a debt trap if the customer is not careful.”

When the customer informed the bank that she never received any text message, she was told that it might have been an oversight and she could opt out at any time.

“Isn’t it strange that I have to reject an offer I never asked for in the first place?” 

Another resident complained that he actually got a credit card that he had never applied for.

“I was surprised when I got a call from the bank telling me that I will receive my new credit card shortly.

“In fact, the courier with the card arrived an hour after that call,” says RM.

“I told them I didn’t want it and sent it back.”

Ritesh, who already has a car loan with the bank, wasn’t keen on taking up on an unwanted cash offer.

A spokesperson for Mashreq told this website: "We have not revised our credit strategy. Nothing of that sort in Mashreq."

At the time of publishing EmiratesNBD had still to revert on their current credit policy.


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