Credit Card Letter....

ineedhelp2008

Had a letter from Barclaycard today telling me they have cut my credit limit to within an inch of its life (left me with about £200 left on it) and they have suspended the cash facility. No real reason, just they are 'reviewing accounts'.

Up until last month we had been using the card to get us through the last couple of weeks of the month but luckily Dh is working now and we are getting by without it so they have done me a favour really, at least the balance can only go down now!

Pretty tough for those that do need to use it though

Tixy

From what I've read of here this seems to be happening more often. The more potential credit the banks are lending the more capital they have to have themselves - and as we all know the banks are not awash with cash at the moment. So this as easy way to reduce their capital adequacy requirement.

As you say its lucky for you that you're not expecting to need it.