barclaycard-warning

pumpkin30

just received my new statement payed 2600 off a 2700 balance last month statement shows reduced credit limit to 600:mad:

was hoping to get a bt off another account not worth it now for 90% of 500 if id of known id of paid it off a halifax balance instead

td_007

A common occurrence these days....numerous threads seen on this forum

Oddjob

pumpkin30 wrote: »

just received my new statement payed 2600 off a 2700 balance last month statement shows reduced credit limit to 600:mad:

was hoping to get a bt off another account not worth it now for 90% of 500 if id of known id of paid it off a halifax balance instead

They did that to mine last year, my credit limit was £700, they dropped it to £250 when I paid it off in full.

mparter

Do they tend to do this straight away or once your next statement is produced?

I inadvertently went over my creidt limit (god knows why you're allowed to in the first place), I only realised when I got my statement saying I was over, so I paid the minimum plus the extra amount to bring it back inline. They also stated they were bumping my APR up to 24.9% :eek:
A week or so later, I then cleared £2000 from the balance leaving a couple of hundred left. So far they haven't reduced my limit but I'm expecting them to soon.

ladylumps45

i had a letter from barclaycard yesterday saying they had reduced my limit too.

sarahs999

Meanwhile, I just paid off my Virgin card and they upped my credit limit to £12k. Do they think that will tempt me to spend it all again? Wrong, if they do!

save-a-holic

pumpkin30 wrote: »

just received my new statement payed 2600 off a 2700 balance last month statement shows reduced credit limit to 600:mad:

was hoping to get a bt off another account not worth it now for 90% of 500 if id of known id of paid it off a halifax balance instead

My sister-in-law works for Barclaycard (she's on maternity leave at the moment) and she said that they have to do this to comply with the rules for not encouraging people to spend more money (forgotten the exact phrase now). But she did say that if you contact them they will re-apply the old limit.

Hope that helps.

cdixon1041k

AMEX pulled a fast one like that on 3 people I know as well as myself and I ALWAYS make my payments. Not cool, definitely not cool.

Chris

sarahs999

save-a-holic wrote: »

My sister-in-law works for Barclaycard (she's on maternity leave at the moment) and she said that they have to do this to comply with the rules for not encouraging people to spend more money (forgotten the exact phrase now). But she did say that if you contact them they will re-apply the old limit.

Hope that helps.

How does that tie in with the much-in-the-news practice of upping people's credit limit without them asking then? Surely that's encouraging them to spend more?!