Banks rushed to raise the limit on credit cards ahead of strict application of rules

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Banks offer customers credit card limit increases before new laws come into play. Photos: Jessica Shapiro

The Bank offers to increase credit card limit of some customers with more than 70 percent, ahead of a federal law that makes it more difficult for lenders to encourage maximum size a higher card.

Consumer finance ANZ credit card customer writing to month inviting them to apply for a limit increase. For example, offer new account credit limit to Frequent Flyer Platinum is 77 per cent higher than the previous maximum.

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