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Barclaycard Credit Limits
lynxptc
Posts: 280 Forumite
in Credit cards
A lot of people have had their Barclaycard limits lowered, can we start a new thread discussing this?
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Comments
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I had mine lowered from £25K to £10K at my request if that counts?Cheers
Steve0 -
Anyone else?0
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mine hasnt been lowered but has never risen for over 3 years!!0
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I've had mine lowered twice now....
On the second occasion I was told it was in response to something on my credt report but they couldn't tell me what exactly .....and having had a look at it I can't think of what it might be either.
I thought that this was abit strange as our financial situation has changed for the better as we've paid off our mortgage so I didn't understand what they were on about.
I did make the comment that I thought Barclaycard was trying to reduce my limit to a level where I would decide to call it a day and close my account once the balance was paid off.........what do others think?2014 Target;
To overpay CC by £1,000.
Overpayment to date : £310
2nd Purse Challenge:
£15.88 saved to date0 -
My limit was £2k until recently. I've been paying the minimum each month and then spending some of that so I was never far away from my limit. However, last month I cleared £1500 off the balance and a week or so later, I received a letter telling me they were reducing my limit.
So I've went from £2000 -> £610
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well i am defently gonna close mine , ive kept saying it for months, i have had the card for 5 and a half years , i have never had any offers, etc, my card srated at 24.9apr crept up to 27.9...... then i said i wanted to close it and they lowered it to 18.9%... still cac so im gonna close now because they still cant offer me a credit increase, or even a bt!!0
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My limits been lowered twice now in the space of three months. My original limit was £500 then lowered to £450 and then lowered again to £400. Only receiving letters about the reduction in the limit three weeks after they had done it.0
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as an outsider (I don't have a card), it sounds like they are trying to reduce their exposure to risk
Apologies to anyone who has had their credit limit reduced, I am not saying that you are a risk, just that I can only think that that would be the logicIndecision is the key to flexibility
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are there any other companies that are doing this?
or is it only barclaycard?Indecision is the key to flexibility0 -
I think a couple of over cc providers are doing this, but what i dont understand is why us. I have never missed a payment and always pay 5 times the minimum payment yet had our limit reduced twice. Apparently all part of responsible lending.0
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