Aquacard limit decreased

doelani

Hubby has aquacard, got it a year ago with limit of £700, this was increased to £1100 after a few months.

He pays it off each month and last payment was 8th August. Got this months statement , credit limit £1100 balance £0.00.

Today he has logged on and they have reduced his credit limit back to £700 Is this because he has not used it ? Is it because he has never had a balance of more than a few hundred punds on it ?


He will not be using it anyway , will be cancellign when he gets around to it just wondered why they would have reduced it down again.

izools

They will have increased it when it was an account kept in "Good order" i.e. transactions and repayments being made.

As the account has been left dormant for three months, they will reduce the limit, as they don't know whether his circumstances have changed, and that's why the card isn't being used any more. Just reducing the risk as it were

doelani

izools wrote: »

They will have increased it when it was an account kept in "Good order" i.e. transactions and repayments being made.

As the account has been left dormant for three months, they will reduce the limit, as they don't know whether his circumstances have changed, and that's why the card isn't being used any more. Just reducing the risk as it were

Yes guess that makes sense, just seems a short time after about 10 weeks to reduce it.

thanks

izools

Keep in mind of course they do specifically lend to high risk customers, so I would imagine their internal account credit scoring system is more stringent.

They've only increased my limit by £100 to £350 and I've held the card for a year

robbo990

I applied for an increase from £250 to £500 on Tuesday and today they have increased my limit to £350 :beer:

izools

Congrats! We're level pegging at the moment then

Let's see who's first past the post to the next increase