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credit limit reduced, making you over the new limit?
missm29
Posts: 340 Forumite
in Credit cards
Has anyone had their credit card limit reduced making their balance then over the new limit? Can credit cards do this? i know an overdraft is repayable on demand and wondered if credit cards are the same.
Virgin reduce our limit quite a bit, leaving us just £100 spare, thankfully we were coming to the end of the 0% and had the money to clear the balance. But its got me concerned about the other credit cards we have.
Virgin reduce our limit quite a bit, leaving us just £100 spare, thankfully we were coming to the end of the 0% and had the money to clear the balance. But its got me concerned about the other credit cards we have.
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Comments
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I have heard tales of this nature. I think they are free to set limits and aprs at their own disgression.Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
Another 3% shaved off 10/12/08
ANOTHER 4 % June 09:beer:0
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