Halifax decreasing my credit limit but I'm already near it - help!

rc55

Hi,

My Halifax Classic credit card's current credit limit is £1,450 but they've written to me to tell me that in 2 days it's getting changed to £700 - does this mean I'm permanantly overdrawn until I'm back up to £700?

Admittedly I've been paying varying amounts over the last few years, often the minimum, sometimes up to £150 but on average £50ish. I also used it fairly often.

Am I stuffed? Any advice / ideas greatly appreciated.

Ruairi

mountainofdebt

Would be ringing NOW to find out why - are they expecting a payment of the difference straight away and will be they be charging you an over the limit fee????

vwman_3

rc55 wrote:

Hi,

My Halifax Classic credit card's current credit limit is £1,450 but they've written to me to tell me that in 2 days it's getting changed to £700 - does this mean I'm permanantly overdrawn until I'm back up to £700?

Admittedly I've been paying varying amounts over the last few years, often the minimum, sometimes up to £150 but on average £50ish. I also used it fairly often.

Am I stuffed? Any advice / ideas greatly appreciated.

Ruairi

Halifax......enough said.