TSB lowers credit limit with one day's notice

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    I still don't understand what vulnerable people you are talking about.

    An unused amount of credit had been removed. No one has been asked to pay off the debt today or several times over. Nothing has changed apart from not being able to run up further debt.
  • SuzieSue
    SuzieSue Posts: 4,096 Forumite
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    edited 7 March 2018 at 2:23PM
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    Deleted_User wrote: »
    I still don't understand what vulnerable people you are talking about.

    An unused amount of credit had been removed. No one has been asked to pay off the debt today or several times over. Nothing has changed apart from not being able to run up further debt.

    I am talking about someone who has been unable to work because they are ill. They used their credit card to buy some food yesterday expecting not to have to pay it back until they get their statement but now have to pay it back today as the purchase took them over their new limit. If they don't pay it back today, they will also lose their 0% promotional rate.

    Do they really need the additional stress? Why can't TSB give reasonable notice?
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    Have you had recent increases in credit availability elsewhere?
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    SuzieSue wrote: »
    I am talking about someone who has been unable to work because they have just been diagnosed with cancer. They used their credit card to buy some food yesterday expecting not to have to pay it back until they get their statement but now have to pay it back today as the purchase took them over their new limit. If they don't pay it back today, they will also lose their 0% promotional rate.

    Do they really need the additional stress? Why can't TSB give reasonable notice?

    I'm sure they'll look at things on a case by case basis.
  • SuzieSue
    SuzieSue Posts: 4,096 Forumite
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    edited 7 March 2018 at 12:36PM
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    PeacefulWaters wrote: »
    Have you had recent increases in credit availability elsewhere?

    Yes, I have been stoozing for the last 6 years and now have total credit card debts over my annual income. So I understand why they have reduced my credit limit and I am not complaining about that. That is their prerogative.

    I have complaining about the notice that they are legally required to give.
  • Candyapple
    Candyapple Posts: 3,384 Forumite
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    shortcrust wrote: »
    They lowered mine a couple of years ago - also stoozing - without any notice. I went over my limit as a result. The charge was refunded and no markers left on my file.

    It's annoying - and I wouldn't have a TSB card again because of it - but they lower limits to stop you borrowing. Giving people a long notice period could be considered irresponsible.

    Given that they can close your account immediately for whatever reason they like this isn't really such a big deal. No one should be relying on the available credit on a card to the degree that something like this would cause a problem.


    Ditto. Luckily I had a £50 buffer between the stoozing balance and the new limit. I ended up clearing it the next day and closed the account.

    At the time I remember someone else started a thread about it and there were at least 2 other people who had had the same thing happen to them. So that makes at least 6 of us who it has happened to.

    Suzie - nothing you can do about it, all you can do is vote with your feet and close your account and don't take anything out with them again.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • SuzieSue
    SuzieSue Posts: 4,096 Forumite
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    PeacefulWaters wrote: »
    I'm sure they'll look at things on a case by case basis.

    But people don't need the stress of raising a complaint.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Then don't complain and just accept that they've lowered the limit
  • SuzieSue
    SuzieSue Posts: 4,096 Forumite
    First Anniversary First Post Name Dropper I've been Money Tipped!
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    !!! wrote: »
    Then don't complain and just accept that they've lowered the limit

    Why not? They notice they gave is disgusting and people need to know how they treat their customers.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    SuzieSue wrote: »
    Yes, I have been stoozing for the last 6 years and now have total credit card debts over my annual income. So I understand why they have reduced my credit limit and I am not complaining about that. That is their prerogative.

    I have complaining about the notice that they are legally required to give.
    So a disadvantaged cancer sufferer in a similar position could choose to unwind their stooze, reduce their savings and credit utilisation and buy a chicken kiev for tea without needing to even ring the card company.
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