Don't Pay Big Payments on Your Credit Cards unless you can really afford it!!!!

Hackneygirl

simon_templar wrote: »

Reading through the smoke and mirrors, the sob story that you always get as opposed to just the facts, the COOP have reduced her credit limit which is happening a lot in the current economic climate. This may well be annoying but they can do this and they do. However instead of a debate the OP rants about it, then gets corrected by some others, then OP throws the toys out of the pram.

typical - if I want to react to negative comments then I am entitled to do so

I see no attempts from you or your gang to debate with me or give me any positive advice

sticking up for myself and any other people who may want to share their experiences on this consumer site is, in your opinion, ranting and throwing toys out of prams

throwing your debt-free weight around must make you feel really good

noah271007

Hackneygirl wrote: »

hey thanks clio and everyone else on here who have been supportive and given me good advice :A

didn't realise there were so many perfect debt-free people on here

instead of giving good advice they seem to "get off" on name-calling to put off any other people who are in debit and want advice

one of them thinks it can tell me to use capital letters and full stops in my posts - why should I?

actually I am saving them all up like a good girl

Just ignore them, unfortunately we tend to have a few bad eggs on the forums doing the name-calling and stuff! If it get too extreme, then get it reported.

noah271007

You being reactive will not help here either. Just ignore them if you found offensive and just follow the forums rules. Simple as that.

Head-Out-Of-Sand

Hackneygirl - thanks for posting this up, it's useful to know this is a possibility. Sign of the times I guess, after so many years of the banks raising out credit limits without being asked to!!! Totally understand why you put that money on the card to reduce the payments. Just when you think you can do the right thing with your money something comes along to mess it up!

Just ignore the unhelpful stuff. If it gets a rise out of you it only feeds them.

PROLIANT

The bank is just doing what it should have a long time ago - "Pro-active risk management"

Consumerist

Hackneygirl wrote: »

...they had reduced the credit limit using my £3,000 payment as the amount to reduce the limit by ...

This may be irritating if done without warning but, on the plus side, you are paying interest on £3,000 less each month from now on and, for the time being, you will not be increasing your debt going forward.

I suspect you may be thankful in the long run. I hope so.
.

not_loaded

It’s very sad that the know-alls come on here preaching, as ultimately it will discourage helpful posting on MSE.

Clearly the proselytising has had the opposite effect in this case and Hackneygirl (being fairly new to MSE) will almost certainly feel demotivated by the uncalled-for disparaging posts.

In a relatively short time, MSE has grown to be an incredibly useful forum. Don’t wreck it - add something constructive or simply move on.

Hackneygirl

not_loaded wrote: »

It’s very sad that the know-alls come on here preaching, as ultimately it will discourage helpful posting on MSE.

Clearly the proselytising has had the opposite effect in this case and Hackneygirl (being fairly new to MSE) will almost certainly feel demotivated by the uncalled-for disparaging posts.

In a relatively short time, MSE has grown to be an incredibly useful forum. Don’t wreck it - add something constructive or simply move on.

well said not_loaded

as for feeling demotivated - I have really enjoyed myself on here and feel quite proud of myself for being in a position to actually pay off £3,000

trouble is someone may think they can use that money again - in my case I can live without it but there may be some who cannot

MABLE

Hackneygirl wrote: »

Hi there, I was made redundant in January 2009 - l was devastated but managed to secure another job - however nothing is really reliable so I decided to use redundancy money to make payments on my credit cards - I paid off my Capital One cards and they are in my draw - Capital One wrote to me thanking me etc etc

I bank with The Co-Operative and thought I trusted my bank, they know I have a salary coming in each month and I had a good relationship with them. I have a Visa card with them as well and thought it a good idea to transfer some of my redundancy money to the credit card so reducing my interest payments but hoping to keep it just in case my financial situation changes in the future - seems like a good idea

well don't do it unless you are happy to pay that money to the Bank because I received my monthly statement this morning and they had reduced the credit limit using my £3,000 payment as the amount to reduce the limit by - in other words they have clawed back my payment without warning me or sending a letter - I telephoned the number on the back of the statement where it states "Phone us: to increase your credit limit..." but the customer service department can't help but just kept repeating it wasn't their decision, they agreed that the account was a good account and they had not had any problems but it was decided by another department who are only available to speak to during the week from 8am to 4pm!!!

So I repeat - don't pay off your credit card balance unless you are prepared to write that money off and not use the card again - the Co-operative Bank have done this to me without any warning or letter to explain - where is the trust or customer care??

Capital One are the nice people here, at least they had the decency to write to me and thank me for paying off their cards and they are not reducing my credit limit behind my back in such a sneaky way

I am disgusted with The Co-operative Bank who I have been with for 20 years!!!!

I have the Co-operative Bank plat card and have not used it for the last 3 years. A few days received a letter from them decreasing my interest and the limit was raised to £15k. Also I have about 9 cards and not one of them has decreased my limits.

Also the credit card companys do not usually give cardholders warning incase they go out and spend to the limit before it is reduced.

chuckley

im more perplexed that ur complaining @ having gotten rid of a debt...

u no longer have to pay back 3k + interest and ur whinging?!!!!! in this current climate u should be happy that debt has disappeared.