I have been using the NEO credit card as my primary card for daily expenses for over 1.5 years. Additionally, I have other products and a premium subscription.
Throughout this time, I have tried three times to request an increase in the credit limit on my credit card, but each time the response is the same: please try again in 90 days.
I contacted customer support, but they said the process is automatic and cannot be influenced.
It seems to me that there’s clearly an error in this automatic process, and it’s not considering certain parameters. Credit score 750+, HIS, regular spending and repayments without delays, premium subscription, fulltime job, etc.
Honestly, when you receive a response from a bank you trust and use every day saying they cannot raise your limit, it causes strange feelings and frustration. At the same time, other banks are ready, right off the bat, without knowing you or your creditworthiness, to give $5K without unnecessary questions. I agreed to this, got a credit card from another bank, and am thinking of completely switching to their services.
But I like the idea and what NEO is doing, so I would like NEO not to lose its customers.
I still believe that my fourth attempt will be successful.
Hey @Alex Thanks for taking the time to share your experience with us, and I completely understand how frustrating it must be to go through the process multiple times without a resolution, especially when you’re a loyal customer with a strong credit history.
I’ll take this back to the team to look into this to see if something might be off with the automatic process. Let me see if I can get some clarity for you on this.
My experience has been similar. The automated response to requests doesn’t provide much explanation and I imagine most people will feel a bit stuck when the automatic response doesn’t feel reasonable
I assume we’re not alone, and many others have faced the same problem. I hope the dev team looks into this message and takes action to improve the situation
Hi @Denisa.Neo
Do you have any updates?
I see in my app that I can request another credit limit increase. However, I want to experiment with the product manager responsible for this process and get a full explanation if I am refused for the third time…
I know this is an old thread, but I’d like to chime in here as well given the relevancy. I’ve applied for a credit card limit increase twice now, both times rejected. In each instance I reached out to Neo for justification - they provided boiler plate language and re-direction, which is aggravating as I consider myself fairly financially literate. I didn’t accept these responses the second time to which Neo responded to reach out to Trans Union to ask why I was rejected. This makes absolutely no sense to me, especially when my credit score (given by Trans Union) is above 800 - as high as it can be without having a mortgage. Respectfully, there is something wrong with Neo’s system both in how credit limits are evaluated and the information that is available to client facing positions. To be fair to the customer support specialist, I think they tried their best and it’s a failing of support that Neo provides to them that they weren’t adequately equipped to handle the conversation. I would like a detailed justification on why my credit card limit increase was rejected as I have an impeccable financial history with Neo. The only knock against me is that my account has only been open for 4 years, but considering that Neo has only be in operation since 2019 I’d say this shouldn’t really be an issue.