Barclaycard - Credit limit drastically reduced. Why?

kate2510

My Debenhams card had a credit limit of £5500.00 for several years (not requested by me) I only use it at Christmas to avoid carrying too much cash really. Most I've ever spent was about £600.00. I pay off in full about every 2 or 3 months and have a DD to cover the minimum due monthly. Suddenly last February I received a letter saying that as they (GE Money) were a responsible lender they were reviewing credit limits and that they were reducing mine to £100.00. At 29% plus interest rate this is no big deal for me but sending out the letter must have cost them more than the interest I have paid over the last 15 months

stephane_2

Looser......

zppp

TOOTHLESSPRICK wrote: »

:D:D:rotfl::rotfl::rotfl::rotfl::rotfl:;););););)

GhengisKhan please go away.

costaerer

why are you spamming the posts?

Fruit_and_Nut_Case

costaerer wrote: »

why are you spamming the posts?

Already answered!

stephane wrote: »

Looser......

mikescotland

I posted about this a couple of months ago and they've continued to do it with each monthly payment, now reducing it by £100 a month for some reason, so I'll be left with a limit of 0 in a couple of months at which point I'm guessing they're just going to close the account.

fozmcfc

mikescotland wrote: »

I posted about this a couple of months ago and they've continued to do it with each monthly payment, now reducing it by £100 a month for some reason, so I'll be left with a limit of 0 in a couple of months at which point I'm guessing they're just going to close the account.

I had the same with a Natwest card, basically it just got refused for every purchase and once the balance was cleared to 0, it was never accepted again anywhere. I had an identical card anyway so wasn't bothered.

No card re-issued, not even had a letter to say my card has been closed down.

When I queried this with the card line, they said I only had one card showing as registered to me.

Still shows on my online account as active, but seeing as though it's been nearly 2 years since I paid it off, I have just left it, but monitor it still just incase.

Possibly I have miss a message on my statement about them closing it as I used to bury my head in the sand when it came to debt.

Conrad

Why be bothered? Surely having less debt or debt opportunity around you is a good thing not bad. Why live off money you've yet to earn. Be in control, no one needs credit cards although I would use one where I want security the seller is bonafide, but then clear it next month.