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  • FIRST POST
    • geofh
    • By geofh 3rd Dec 17, 9:55 PM
    • 3Posts
    • 0Thanks
    geofh
    Post Office Credit Card Reduced Credit Limit Trap
    • #1
    • 3rd Dec 17, 9:55 PM
    Post Office Credit Card Reduced Credit Limit Trap 3rd Dec 17 at 9:55 PM
    I have had a Post Office Credit Card for almost 40(!) years OK it was a CSMA credit card back then, but it is the same account, just transferred from one company to the next. Over that time, I have always paid the amount on the card in full every month via Direct Debit. I have never previously had any issues with this credit card.

    Then about 2 months ago, POCC wrote to say they were halving the credit limit on the card - no reason given. The new credit limit is still rather more than I would expect to put on the card except, when hiring a car in the Canaries, Europcar put a very large reserve against this card.

    On returning to the UK, I found a letter from Post Office Credit Card Services saying they had charged me 12 for exceeding the credit limit that they had just reduced (9 days earlier). On complaining to POCC, they said that they could not restore the credit limit for at least 12 months. The ill-trained customer service rep was clearly of the view that I was a bad credit risk, even though I had already paid the previous monthly bill in full!

    Fortunately, I have several previously un-used credit cards with much higher credit limits, so I will leave the Post Office card dormant for a while before closing the account.

    However, this should be a cautionary tale for other existing or potential POCC customers.


    Geof.
Page 1
    • venison
    • By venison 3rd Dec 17, 11:14 PM
    • 1,359 Posts
    • 1,448 Thanks
    venison
    • #2
    • 3rd Dec 17, 11:14 PM
    • #2
    • 3rd Dec 17, 11:14 PM
    I think a lot of CC companies have been reviewing peoples CC limits recently as the B of E puts pressure on them to reduce exposure, I had one of mine reduced by 3k in the summer.
    I am a BG on loans,credit cards and benefits I volunteer to help get your forum questions answered and keep the forum running smoothly". Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.
    • Nebulous2
    • By Nebulous2 4th Dec 17, 6:22 AM
    • 1,653 Posts
    • 1,003 Thanks
    Nebulous2
    • #3
    • 4th Dec 17, 6:22 AM
    • #3
    • 4th Dec 17, 6:22 AM
    It happens. I had my first ever reduction from TSB almost a year ago. Just six months after they put it up. It was probably sensible, as I had just taken on a lot of 0% debt. Nobody else did it however.
    • molerat
    • By molerat 4th Dec 17, 8:03 AM
    • 17,483 Posts
    • 11,717 Thanks
    molerat
    • #4
    • 4th Dec 17, 8:03 AM
    • #4
    • 4th Dec 17, 8:03 AM
    Did your actual balance ever go over the credit limit ? If not then raise a formal complaint. Just because the money was reserved and put you in a negative available balance does not make you over limit.
    www.helpforheroes.org.uk/donations.html
    • chattychappy
    • By chattychappy 4th Dec 17, 10:51 PM
    • 6,444 Posts
    • 3,395 Thanks
    chattychappy
    • #5
    • 4th Dec 17, 10:51 PM
    • #5
    • 4th Dec 17, 10:51 PM
    Did your actual balance ever go over the credit limit ? If not then raise a formal complaint. Just because the money was reserved and put you in a negative available balance does not make you over limit.
    Originally posted by molerat
    Yes, absolutely!
    • jamesperrett
    • By jamesperrett 5th Dec 17, 9:11 PM
    • 699 Posts
    • 354 Thanks
    jamesperrett
    • #6
    • 5th Dec 17, 9:11 PM
    • #6
    • 5th Dec 17, 9:11 PM
    Bank of Ireland, who run the card for the Post Office, seem to be cracking down all round - reducing limits and cancelling cards that haven't been used. I wonder if they've over stretched themselves?
    • Ebe Scrooge
    • By Ebe Scrooge 5th Dec 17, 9:52 PM
    • 4,016 Posts
    • 3,434 Thanks
    Ebe Scrooge
    • #7
    • 5th Dec 17, 9:52 PM
    • #7
    • 5th Dec 17, 9:52 PM
    Bank of Ireland, who run the card for the Post Office, seem to be cracking down all round - reducing limits and cancelling cards that haven't been used. I wonder if they've over stretched themselves?
    Originally posted by jamesperrett
    Bank of Ireland, who deal with most of the Post Office finance stuff, are the biggest pile of bovine excrement I've ever had the misfortune of dealing with. Avoid them like the plague ! I really do wonder how they got a licence to trade in the first place. I had a service from them once, and have studiously avoided going anywhere near them ever again.
    I may not know much about art, but I know what I like.
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