limit reduced

carlislelass

letter today from Barclaycard reducing my limit. I`ve always overpaid and recently started paying extra, could it be because I don`t use it regular or are they all doing this? At least it will be less to clear then cut up!

john1002

Seems ot be happening alot, sky card run by barclaycard have done the same thing, what with this and ever increasing APR's that seem to get forgotten in the news etc when talking of doom and gloom.

Dave_®f©

I've recently had an increase from Halifax without asking for it. It must depend on individual banks and the risks they're prepared to take and what their customers have outstanding on credit cards (in total).

MFewings

My daughter called me today, she has had a Halifax credit card for about 7 years always used it and paid off over several months generally taking advantage of interest free or low interest offers on it.
Credit limit of £6750, but in August she owed just over £2000 and somehow she was a day late with payment (a genuine oversight which was promptly put right - she always makes more than minimum payment).
So she called Halifax and explained and made a payment of £200 at that time but the guy did say the special interest rate would be removed from the balance now. On consideration and with another card available a couple of days later she transfered the remaining balance leaving the Halifax card clear.

Today she gets a letter saying as she had missed a payment her limit would be reduced, she panicked and thought she must have had some money owing somehow on the card again although she was convinced it was clear. So once again called Halifax only to be told that it was relating to the missing August payment. She did ask if they had over reacted considering her payments in 7 years had been more than adequate at all times and always in time, that she could understand a reduction of limit by a bit but from £6750 down to £500 was a bit extreeme, the operator basically just said tough, so she has cancelled the card now. Seems so silly to lose the business, I know they have to be careful but it was a genuine miss calculation of dates which she has learnt by and not due to financial difficulties.

moneysavingallday

MFewings wrote: »

she could understand a reduction of limit by a bit but from £6750 down to £500 was a bit extreeme, the operator basically just said tough, .

!!!!!!? There has to be more to the story than you've provided us with.

saxon68

This happened to me from Barclays for no apparent reason. After a lenghy phone call i was told they re-adjust there credit scoring continuously!

bigscullers

I've had a similar experience with Sky Card. After transferring the majority of my c/c balance to another card, Sky Card decided to reduce my limit, which put me arrears and over the limit by £154. The have now demanded that I pay the "arrears/over limit" (which I can do), but it just really sucks as I am not the one that put myself in this position! I find their behaviour quite unreasonable but don't think I have a leg to stand on if I dispute it!!

carlislelass

saxon68 wrote: »

This happened to me from Barclays for no apparent reason. After a lenghy phone call i was told they re-adjust there credit scoring continuously!

mine is the same,no missed payments. told there doesn`t have to be a reason so guess which card is being cleared?

Millionaire

Barclaycard are doing this to quite a few people. So dont worry.

Paulgonnabedebtfree

moneysavingallday wrote: »

!!!!!!? There has to be more to the story than you've provided us with.

Not necessarily. Another company did similar to that to me a year ago.

MFewings

moneysavingallday wrote: »

!!!!!!? There has to be more to the story than you've provided us with.

I can assure you I have given you a 100% true account of the situation, never before a late payment, all payments overpaid and balances cleared frequently through the time the card was held. Still in same job, although obviously wage has increased over the last 7 years, but this was never discussed.

This is why we were so stunned at the amount of the reduction.