limit reduced

londonuk2008

MFewings wrote: »

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.

Same situation with me and Barclaycard - statement should be totaly clear of any residual interest in December - so I am going to have great delight calling them and cancelling! I was always told down to credit scoring etc - like you my wage has increased over the last ten years since opening and my Equifax/Experian is also looking excellent.

I think Barclaycard has been stung 'badly' and panicing . I read story's like this all over this board and also how badly some are being treated .

But like they can - we can move away!

MABLE

MFewings wrote: »

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.

Barclaycard gets regular score from Equifax this could be the reason as to why they are reducing your limit.

londonuk2008

MABLE wrote: »

Barclaycard gets regular score from Equifax this could be the reason as to why they are reducing your limit.

That was confirmed by Barclaycard also they use a system from Experian which predicts (they say) the chances of default and/or going bankrupt.
Good job my other credit providers dont think like this with me!!!

MFewings

MABLE wrote: »

Barclaycard gets regular score from Equifax this could be the reason as to why they are reducing your limit.

This is Halifax not Barclaycard, in fact also have a barclaycard and after the Halifax balance was (as wasnt going to pay full interest rate) to them they wrote to increase the limit.

Credit rating is still excellent with no problems at all.

Seems just Halifax need to cut the risks somewhere and are not looking seriously at accounts and how they are run, but see a late payment and panic.

Bismarck

londonuk2008 wrote: »

That was confirmed by Barclaycard also they use a system from Experian which predicts (they say) the chances of default and/or going bankrupt.
Good job my other credit providers dont think like this with me!!!

I'd love to have a look at that system! Wonder exactly what it uses?

londonuk2008

Bismarck wrote: »

I'd love to have a look at that system! Wonder exactly what it uses?

well I did send and recieve a S.A.R - and there was nothing untoward...so could'nt work out there logic.

cos_2

I've had a Co-op card for sometime but rarely used it. Recently called up to get my online account opened up (locked myself out) and the rep noticed my card had expired and not been renewed as I wasn't using it - would I like a new one issued? I agreed.

New card arrived last week and a letter a few days later informing me that, due to lack of use and fraud protection my limit was reduced from £4000 to £250. It actually appears a reasonable thing for them to have done, just slightly unfortunate timing!

I've written to close the account and sliced up the shiny new card.

/Edit - should have said I had a zero balance on the account.