Halifax One - Credit Limit Slashed!

Morn

As the title says my credit limit has been slashed from £1400 to £650 literally overnight (noticed yesterday).

I always overpay my payments and I have rarely missed one. I am wondering if its something to do with the current HBOS drama?

Has anyone else noticed the same thing?

Regards
Morn

molar

Just checked my Sainsburys account and its ok. Did you notice online or on your monthly paper statement?

I have noticed though that Sainsburys have put a message on their noticeboard about them having an independent banking license and being regulated by the FSA. Presumably this notice is to try and reduce the amount of people transferring money out of their savings accounts!

Morn

molar wrote: »

Just checked my Sainsburys account and its ok. Did you notice online or on your monthly paper statement?

I noticed on-line, my recent statement section shows £1400 and the current balance section shows £650. Its not a major problem as I am not over the credit limit etc on the account, but it was just strange that it happened now.

I thought that they were meant to give you warning of this sort of thing?

ldn-100

They have been doing this since at least this time last year. They will send you a letter in the next few days telling you how they are helping you by cutting your limit. You can ask for a credit limit increase in 6 months time and you may well get it. At least that is my experience.

Morn

ldn-100 wrote: »

They have been doing this since at least this time last year. They will send you a letter in the next few days telling you how they are helping you by cutting your limit. You can ask for a credit limit increase in 6 months time and you may well get it. At least that is my experience.

I love it when people think they know how to help me.

Am I mistaken in my understanding with regards to prior notice?

Bismarck

they deliberately don't give you prior notice in case you go out and spend up to the limit before it takes effect...they're nice like that!

they're helping you...honest...

Morn

Ha, well its a good job that I don't need the resources isn't it.

Hooray for HBOS!!

YorkshireBoy

Have you done anything to 'provoke' them? Taking cash advances for example?

Morn

YorkshireBoy wrote: »

Have you done anything to 'provoke' them? Taking cash advances for example?

Nope, was well under my limit. Over pay each month and have never taken cash on a credit card in my life.

ICan'tStandIt

My Halifax Mastercard limit was reduced recently by about £500, but then rather ironically, my Britannia Building Society Mastercard (run by the Halifax) got increased !!!

They took with one hand and gave it back in the other.

Morn

ICan'tStandIt wrote: »

My Halifax Mastercard limit was reduced recently by about £500, but then rather ironically, my Britannia Building Society Mastercard (run by the Halifax) got increased !!!

They took with one hand and gave it back in the other.

:rotfl: The logic baffles!!

The thing that made it so humorous for me was that I discovered the change when I was unable to use the card to pay for 2 Dominos pizza's. Of all the things to get declined on that really took the biscuit.