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Barclays can I claim compensation
fisherman1
Posts: 1 Newbie
in Credit cards
I received my statement this month plus a letter which is dated the 22nd May .They had reduced my Credit Limit from £10,000 to £3,450 pounds on the 22nd May the same date as the Letter, therefore giving me no notice.
To make this worst at the beginning of May they sent me a letter saying that because of the way I use my account as a reward you gave me two Credit card cheques for 0% to May 2010, as I was about to pay my VAT in May, so I decided to pay £5,100 off of my Barclay Credit Card account , and then write the Barclay Card cheque for £5,200 made payable to the VAT office, as in the letter it said that it was 0% for the first £5,000 and then the £200 would be at the normal rate.
The vat office has had the cheque returned to them on the 28th May, because on the 22nd May 2/3 days after they received my £5,100 payment they reduced my credit limit from £10,000 to £3,450 thus boncing the cheque to the Vatman
I saw in the threads that banks can just change your credit limit when they like , but this must be a case for compensation, any one could advise?
To make this worst at the beginning of May they sent me a letter saying that because of the way I use my account as a reward you gave me two Credit card cheques for 0% to May 2010, as I was about to pay my VAT in May, so I decided to pay £5,100 off of my Barclay Credit Card account , and then write the Barclay Card cheque for £5,200 made payable to the VAT office, as in the letter it said that it was 0% for the first £5,000 and then the £200 would be at the normal rate.
The vat office has had the cheque returned to them on the 28th May, because on the 22nd May 2/3 days after they received my £5,100 payment they reduced my credit limit from £10,000 to £3,450 thus boncing the cheque to the Vatman
I saw in the threads that banks can just change your credit limit when they like , but this must be a case for compensation, any one could advise?
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Comments
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No, I think in their T&C's they can change the limits as and when they choose to - and many are changing limits/interest rates at the moment, with very little notice.
The best I think you might be able to do is to get them to raise the limit up to £5k, so that you can pay your VAT.
It's certainly worth contacting them and seeing what they can do, if anything.
I don't think compensation will be a goer, though.
Lin
You can tell a lot about a woman by her hands..........for instance, if they are placed around your throat, she's probably slightly upset.
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There is no case for compensation as you are not out of pocket in any way.0
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Clear your debt. If you can't afford to, then sort out the problem now.0
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Barclaycard did you a favour!
The limit for those cheques is £5,000 combined.. you'd have been paying the cash advance interest rate on a cheque for over £5000!!0
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