Beware of halifax credit cards!!!

skemp1

I just thought I would share a situation that happend with my credit card as I feel a "wronged" by it, am I over-reacting?

For a few reasons this month, holiday, postal strike...... I missed a payment on my credit card. I only had about £300 on there, but my credit limit is £7500.

I realised I had missed a payment and went online and made the payment immediatley, a day late. I noticed online that my "new" limit had been dropped to £800 a drop of around 90%?

I phoned them and even though it was the first payment I had EVER missed after being with them for almost 3 years, they said they couldnt put my credit limit up at all for at least 6 months???!!!:mad:

I have never used my credit card that much, but am just about to move house and I need it now and am very peeved that they did this.

I applied for a new credit card with virgin money and they gave me £5000 limit, no questions. As the title says, watch out with Halifax.

Leanne200

This is perfectly normal. Alot of companies reduce limits when they are largely unused...

loopy.magic

Completely unreasonable reaction from Halifax, but it's probably not unique to them. I'm sure there are plenty of others who may react this way as well.

Virgin credit cards are issued via MBNA, and they have a very bad reputation for being nasty when payments are missed or are late.

If (as you've done) you're able to get another credit card then hit them where it hurts and close down your Halifax account :cool:

TFD_2

At the moment, issuers are twitchy. To maintain a large limit, they want to see perfect account management.

Before dozens of other people say the same thing, set up a DD for the min payment and this won't happen again.

bingy_burge

Seems reasonable ::

If you are sensible and only put small amounts on it what difference does 7.5k and 6.7k? its still a decent limit.

If you ran a business and someone didnt pay there bill to you on time you would be a little catious in the future. Count yourself lucky some people get limit drops higher than that over night because there not using loads of their limit and paying any interest.

Leanne200

bingy_burge wrote: »

Seems reasonable ::

If you are sensible and only put small amounts on it what difference does 7.5k and 6.7k? its still a decent limit.

The OP said it dropped to £800... not by £800

bingy_burge

Leanne200 wrote: »

The OP said it dropped to £800... not by £800

I misread you mis typed :rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

cos_2

It's unfortunate that these companies don't think customer first - this kind of automated reaction (to reduce limit) really doesn't grow their business at all. It's all about cheap ways to deal with changes in a customer's behaviour.

Appalling at the end of the day.

LBG_worker

when you asked them to put it up who did you speak to? if you ask to be put through to a specialist lending team they can arrange to put it back up to what the limit was providing it was your first missed payment and the rest of your payments have been on time. It could be worst Halifax will take any promotional rate off you if you miss a payment!

never-in-doubt

Those "specialists" in Cardiff or the ones in Lovell Park (Leeds) mate? lol

LBG_worker

Shhhhhh!!!!!