Barclaycard have damaged my credit rating are they liable?

moneysavingmarrow

chattychappy wrote: »

I got declined when my credit score is 999

I feel this "credit score" topic has been done to death - but the OP does touch on an interesting topic.

I too believe the original post is an interesting topic which could be explored better without the constant bickering interjections by others.

I cannot believe the rudeness shown by so many for taking over the thread with a different topic!

Why not start another thread on credit scores.

I too have a Barclaycard which has had its limit cut from £7500 to £6200 and recently to £800 after paying off chunks by balance transfers to other cards.
With recent reduction to £800 they also took away, completely, my cash withdrawal limit which had been at £5200 (never have and had no intention of using cash facility).
This would show as the card being virtually maxed out at the present time.
As I have stated before, their card is going to be booted into touch when the balance is paid off.
The condescending nature of the letter though, listing reasons "why this action has been taken", does make one feel a little uneasy.
There was no notice given, just the letter through the post stating the reductions, which took immediate effect.
They also stated that this action had been taken due to them being responsible lenders.

Never gone over limit.

Never had a late payment.

Neither have I had any problems with the payment and my conduct with other card companies or other credit lines as reference to credit agencies would show.

They have not made a lot out of me though, as I paid off a balance which was promotional interest free at the begining of the year and have only been paying 11% apr on a balance which I got onto the card of about £5500 about three month ago due to a solicitors bill which needed paying quickly.

philip99

Yes can the guys hyjacking the thread with a debate over the worthyness of the credit scores please start a new thread.

The bottom line is that by reducing my credit limit (which yes yes of course they are entitled to, never said they were not) to just 5% above my balance it looks to other lenders that I am maxed out. This is term means I cannot get any credit elsewhere.

I can assure everyone here that I am being completely truthfull and despite what others say they did not write to me and give me any warning.

Despite the fact that I think withdrawing credit with no warning makes it blooming hard to plan your spending and finances! (ie getting caught in a foreign country with the card and they pull your credit) They should say we want to reduce your limit to this over this ammount of time, you have to pay x etc etc.

A credit limit that is unreliable and unpredicatable is almost as good as no credit, as I need to keep this much money aside incase they pull it at any short notice.

I stand by my point and say that Barclaycard are not reliable or responsible and through their actions have damaged my credit worthyness.

[Deleted User]

I wasn't hijacking your thread - I was actually challenging the advice given to you, which is very relevant!

Look, this is very simple. Barclaycard are entitled to reduce your limit without warning. End of. It might not be very nice behaviour, but it's not unlawful and it's perfectly within the T&Cs that you signed up to.

I still don't believe that Barclaycard reducing your limit to 5% above your balance will turn your credit 'rating' from Excellent to Poor. That's a huge drop - and there are so many factors affecting your score that the amount of total available credit you use is really not likely to be the issue here.

It doesn't look to others that you've maxed out: just clear your balance and next month it'll show you're using 0% of your available credit. Simple.

I'm not accusing you of anything, but please do have a good look at your credit report, as I'm suspicious there may be some other reason why your score dropped. Did you miss a payment - or several - with Barclaycard recently? That's possibly a reason why your score dropped - and the fact they slashed your limit is behaviour consistent with that.