COOP Visa ...unbelievable

johnllew

So what is so good about a Co-op card that makes you want to use/keep it anyway?

alfred64

O.p does not state current credit limit but co-op have some of the highest limits around and it may well be that in the current climate they feel a little uncomfortable with this.

withnell

It does seem somewhat foolish on their part to reduce the minit to the current balance, thereby not allowing the op to use the card for all purchasing required - just forces you into applying for a card from a different company - I know it did for me!

noah271007

withnell wrote: »

It does seem somewhat foolish on their part to reduce the minit to the current balance, thereby not allowing the op to use the card for all purchasing required - just forces you into applying for a card from a different company - I know it did for me!

Yes i agree...look elsewhere, no point getting ranting and raving. You are just wasting your energy!! They are cheeky to call you to try and get your credit to a limt they are comfortable with. I would stick my two fingers up them!!

toby2

It makes you wonder how the banks intend to make money in the future when they are withdrawing credit from even the most credit worthy customers

MABLE

toby2 wrote: »

It makes you wonder how the banks intend to make money in the future when they are withdrawing credit from even the most credit worthy customers

If you are not using the credit limit to the full what is the point in having it.
I think the OP pride has been hurt. WELL GET OVER IT.

I had a similar situtation with my bank. They wanted to reduce my overdraft facility by 3k, only because I did not use it. I could see the reasons why and accepted it. However a few days before this was to be reduced they wrote me another letter advising they were leave the facility at the original amount.

I have a CO OP visa with a limit of 15k and have not used it for years and have never been requested to have my limit reduced.

noah271007

toby2 wrote: »

It makes you wonder how the banks intend to make money in the future when they are withdrawing credit from even the most credit worthy customers

Simple. They will start introducing a fee to have the credit card every year i.e £50 quid a year. I can see it coming very soon.

firsttimestudent

For me, whilst I understand that sometimes banks may want to reduce the credit card's limit and so, I get very upset when instead of admitting it's because they needed the credit they've given me, they instead try and 'claim' it was my fault, i.e. my credit worthiness.

Nothing related to credit cards, but my recent 'insult' by Nationwide regarding getting a debit card - to be 'told' by a Customer Services agent that "make sure I have no defaults, make sure I pay all my bills on time" to 'improve' my credit rating - it is an advice that I think was ill-given to me. Almost felt like roaring at her - I have a perfect, unblemished credit record; I am absolutely responsible with my finances - was it because I appear young to her that she thinks she has the right 'to hand out advices' to me? I have never consented to that! Nationwide should perhaps admit that they love to randomly give people debit cards/cashcards as opposed to 'hiding' behind the credit-worthy bush!

Alright, just a rant!

cos_2

I think the thread has shot off at tangents. The OP was querying the Co-op calling to negotiate when they admitted the CL would change later anyway. Although, indeed, questions were raised about why the CL was being reduced.

In my view, this call is a foolish waste of the Co-op's resources and simply causes irritation for their customers. I'd like to see if the OP gets a response that explains why they were making the call in the first place. What did the Co-op hope to achieve?

B.E.N

firsttimestudent wrote: »

For me, whilst I understand that sometimes banks may want to reduce the credit card's limit and so, I get very upset when instead of admitting it's because they needed the credit they've given me, they instead try and 'claim' it was my fault, i.e. my credit worthiness.

Nothing related to credit cards, but my recent 'insult' by Nationwide regarding getting a debit card - to be 'told' by a Customer Services agent that "make sure I have no defaults, make sure I pay all my bills on time" to 'improve' my credit rating - it is an advice that I think was ill-given to me. Almost felt like roaring at her - I have a perfect, unblemished credit record;

Have you checked your credit rating lately? The fact that two institutions insinuated that you may have credit issues, leads me to believe that either a) you have, or b) a company has (perhaps erroronously) registered a default on your credit file. Get it checked, just in case.