Barclaycard reduces my limit

joseppi

All new to this forum stuff but so peed off with Barclaycard and don't know if I have cause for complaint.

Applied for Barclaycard and received at end of July with very modest limit set but just needed it for holiday. One week after getting the card I received a letter telling me that they had reduced my limit by over half. I had not gone a mad spending spree with my card and I have checked with Credit Expert and there is nothing untoward on my files. Barclaycard will not give me a reason for their decision. How can they set a limit and then take it away a week later. I had made plans which then had to be changed.....

latecomer

unfortunately they can do exactly that. I guess its just bad luck that they have reviewed your account so soon after opening.

If you have a good credit rating and enough time before your holiday you could consider applying for another card.

Zapp_from_Planet_Zogg

Hello

Unfortunately, Barclaycard can do that - it is in their terms and conditions that they reserve the right to review credit limits from time to time.

There are a number of reasons why they may have done that - not all related to you. They could range from your available credit elsewhere, payment history, income or just their commercial exposure. Do remember that Barclaycard is a business and they don't have to lend you anything.

You could call up and try asking them nicely to increase your limit but, be warned - as a new account holder, you will have no history with them and they may be reluctant to do that.

When you first call up, tell them that you want to close the account. They will then put you through to some people that could help you. Just explain that the credit limit you have now been given is too low to be of any use to you and, if they won't increase it, you have no need for the card.

joseppi

thanks. I guessed that they can pretty much do what they like! It just seems very unfair to me that they can promise something and then take it away for no apparent reason. Had holiday, just had less ice creams and plonk that I planned!

battyboimatt

Oh i dont know, I was with Barclaycard then they promised to up my limit and lower my rate, well they upped my limit for 1 month then dropped it to a mere £300 and I didnt get the rate i was meant to get 14.9%, I went thought the offical complaints, got a letter back saying the blah, blah, revews, blah incorrect staff trianing to be told what I was blah, nothing they will do blah and this was there final responce, passed it to the FOS low and behold, my apr is now 14.9 my credit limit is back at what is supposted to be and low and behold, I have new nice new shiny gold card, which looks more like yellow than gold to me

clio

Good result them m8 well done..

joseppi

thank you for responses.

I sent of a letter yesterday to the head of customer services requesting a response within 10 days so we will see what comes back.

I will fight with them out of sheer bloody mindedness!

Cheers

latecomer

Good luck!