Credit Limit Reduced!!!

Innocent_Guy

never-in-doubt wrote: »

I seriously doubt it mate - not if he thinks Martin is the best since sliced bread and believes everything 'the man' quotes LOL

:rotfl::rotfl::rotfl:

You crack me up.... Image if he banned you!!!

Eupho

davethorp wrote: »

Simple answer, the recession/credit crunch

A lot of people have posted similar stories about barclays. Seems they are tightening their belts. Unfortunately there is very little you can do as it's up to Barclays how much they are prepared to lend you

Yip.. they did this to me too.. on my Barclaycard.. and my Barclaycard Cash Back card.

never-in-doubt

Innocent_Guy wrote: »

You crack me up.... Image if he banned you!!!

who? Martin, mate? why? he is a muppet at times, yea knowledgeable, but still a little OTT at times - comeon! The way he talks on the telly you'd think he was god! He has a team of staff getting info for him, us lot don;t need a team of people - we already know it from personal experience.

Ya reckon Mr Lewis actually reads the sub-primers gossip? lol - doubt it mate, he'll have huge limits I bet!

:rotfl::rotfl::rotfl::rotfl::rotfl:

simon_templar_2

That woman co-presenter is terrible. He should ditch her right away, she is only good at fawning over him.

Tribulation

I never quite understand credit scoring no matter how many people try to explain it.

Someone who has credit cards for say 10 years, is always close to their limits, often pays back just the bare minimum but at the same time, never exceeds their limit, has never missed a payment in 10 years etc, I would have thought is the ideal candidate to give more credit to. It's someone that's trust worthy and someone the banks will make money out of.

I read on various threads that CC companies don't like you to use/have more than 25% of your available credit outstanding. Why not give a credit limit of 25% of what they do give you then?

I read they frown on cash withdrawals.

Why then every month do I get credit card cheques through the post accompanied with gumph encouraging me to use them?

I've lived in my current house for 9 years and have been at my current bank for 8 years (only changed because there was no A&L branch here when I moved).

I've looked at our current account, I've looked at my wife's business account, her charges etc and we've decided we're going to move from Lloyds to Nat West. Reading what's written in the above posts, that apparently means that our credit score will be affected as we will soon only have been with our new bank for a matter of days. It makes no sense to me. On the one hand banks are advertising for our custom, sites like this are advising us to search for the best deals etc, then on the other hand I'm being told that by changing banks, I am going to make my credit rating worse.

Personally I think the whole scoring system is a joke.

never-in-doubt

Tribulation wrote: »

I never quite understand credit scoring no matter how many people try to explain it.

Reading what's written in the above posts, that apparently means that our credit score will be affected as we will soon only have been with our new bank for a matter of days.

Personally I think the whole scoring system is a joke.

You got it - a prime example here, as you'll be with a new bank you'll be classed as a higher risk and may struggle to get the best rates when considered by lenders for revolving credit (credit cards)...... my whole sentiment is that credit scoring is unique and there is no dead-set formulae - for instance Tesco do not use a personal credit score - they simply have their own floor-score which doesn;t care about the usual personal scoring questions - instead they base decisions on credit file and passing their basic score, i.e. having a bank account (not length of time held) and having a job (not the job industry) etc etc....