Littlewoods Credit Card - Reducing Limit!

stebiz
stebiz Posts: 6,590 Forumite
First Post First Anniversary Combo Breaker
in Credit cards
My wife has a credit card with Littlewoods. She always pays her monthly payment without fail each month. A couple of months ago my wife had her credit limit reduced from £1500 to £750. She wasn't too worried as she often uses mine. Now out of the blue it has been reduced to £600.

The way things are going with this credit crunch, she won't be able to buy a pack of cornflakes with her credit card. What a complete joke? So for those who think that the credit crunch isn't affecting them - think again?

Personally we aren't concerned, as fortunately we don't rely on it. However if anybody is thinking of relying on a card (especially Littlewoods) for Christmas - this could quite easily happen to you.

Stebiz
Ask me no questions, and I'll tell you no lies

Comments

  • normanmark
    normanmark Posts: 4,156 Forumite
    Does she use the card a lot? If so does she regularly hit that limit every month and then pays it off?

    Majority of card companies are looking at an average spend on the card over the past 12 months or so, if shes not hitting over £600 then whats the point in giving her a credit limit higher than that? I know for her its more of a convenience issue but i would assume the company is trying to be a bit more of a responsible lender & not give too much money away to those who don't use it.
  • globalds
    globalds Posts: 9,431 Forumite
    I think it is because she is not the kind of customer they want .
    They make nothing off her.
    Take it as a complement on your good money management .
  • simax
    simax Posts: 1,957 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Do Littlewoods still do Visa cards? :confused:
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • withnell
    withnell Posts: 1,629 Forumite
    globalds wrote: »
    I think it is because she is not the kind of customer they want .
    They make nothing off her.
    Take it as a complement on your good money management .

    They WILL make money from every transaction, but as said above, if the card's not used then they'll reduce the limit to limit their risk
This discussion has been closed.
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