Lowered credit limit

hoxtonbabe

Hi,

I received a letter from Barclaycard stating they were going to lower my credit from £9000 to £2300, now whilst I dont have too much of a problem with this I do think it a bit much as I was keeping it as my emergency card/blanace transfers, the way the letter was worded it was like I had done something wrong and would have a negetive affect on my credit

I have not used the card for about 6 months and it is actually in credit of £25, they say I cant use it to withdraw cash for a minimum of 6 months (not that I ever used it for that) but consdiering I have always paid up on time, and cleared the account they seem to be treating me like someone who has had problems with them.

Is this normal? I have never had this problem with my other cards that I dont use that often.

Cheers

Moggles_2

In the last 12 months, credit limit reductions have been reported frequently on this board, so you're not alone.

Barclaycard, Egg and MBNA seem to be among the worst offenders with some forum users hit more than once by the same lender.

I expect B'card has sent the same letter to all customers that have suffered cuts, so try not to take it personally.

Might be an idea to spend that £25, btw

Paul_Herring

Entirely normal (especially given the current economic conditions) - you're not using the card, so they're reducing the potential liability they have.

You should always occasionally (once a month perhaps) use an emergency card, for precisely this sort of reason - that and to stop them putting a stop on the card itself, so when you do have that emergency, you don't run the risk of not being able to use it.

hoxtonbabe

Thanks folks, I dont feel so bad now.

I have not used my House of Fraser mastercard for well over a year, and it is still ok, barclaycard dont get any money out of me for 5-6 months and they have a moan...charming :rolleyes:

evanjonesaber

It is very normal to lower a limit when a card hasn't been used in a while so don't worry about it.

naijapower

With Barclaycard, whether you have been using your card or not, they have still reduced limits. Seems it is a function of times that we face.
Cedit crunch fever

wyebird

I have three barclaycards, as a result of them taking over other cards. One on a very low life of balance deal which I don't spend on; they reduce the limit on this every couple of months or so. Another one which only has a £10 monthly subscription going out of. Credit limit stays the same but they advise me as I am only making min payment, I may be having financial problems, so they will reduce min payment to £5, not £10, which is the outstanding balance lol. Then there is the one I spend on which they have increased the limit on, and the interest rate . There is a strategy in there somewhere!

jozvaldo

i've been using my bcard regularly - and I recently cleared a balance from £6500 to £100 only to receive a letter stating that my credit limit had been reduced from £7300 to £250!!!!!