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CC Reduction in Credit
Bradski
Posts: 4 Newbie
in Credit cards
Hi
We have a Credit Card, and we are slightly behind with payments, however, the CC company have now decided to reduce our limit, which now takes us well under our orignial limit, which means that they are now claiming from us an over limit charge every month... any advice please
We have a Credit Card, and we are slightly behind with payments, however, the CC company have now decided to reduce our limit, which now takes us well under our orignial limit, which means that they are now claiming from us an over limit charge every month... any advice please
0
Comments
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It is my belief that they should not be allowed to reduce the Credit Limit to under the Current Balance and then charge overlimit fees as this would effectively be a sure fire way to print money.
I think you have grounds to dispute the overlimit charges and raise a complaint. If they do not refund the charges, then you can go to the FOS.0
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