Bank of Scotland Taking my credit card away. Advice needed.

binaryuniverse

Ooops. I had forgotten that.

lauriepops

hehe ill let you off then!

binaryuniverse

I blame that little lapse in concentration on that fact I've been stuck in bed all day with a nasty fever. Head bunged up, coughing a lot. Sweating like a maniac.

lauriepops

Sounds like we're sharing the same lurgy except ive been at work all day!

binaryuniverse

Seems a lot of people have been getting it lately. Funny how you don't hear about "The Dreaded Lurgy" in the news like you do with swine flu.

csh_2

nc1873 wrote: »

So is this maybe just a case of BOS tightening the purse strings and because i don't use it much i'm seen as not "needing" a credit card.

.

I got a letter from BoS this morning dropping my credit limit by a good few thousand to 1k. I have £900 outstanding on it as a 0% balance transfer. Me thinks that as they are not making money from me they don't want me

MBNA- had no outstanding balance as this was my 'emergency card', had a 6k limit and they trebled the interest rate and offered me an opt out of closing my account so they're all at it.

Dabooka

nc1873 wrote: »

Anyhow the thread has strayed off topic a bit:D

I have no debt and i live with my parents.

I earn a decent amount a year to have £10000 credit IF i ever needed it.

Right now i don't but for them to take my card off me without any reason when considering i have banked with them for over 10 years and owned this credit card for 7.

What's a decent wage for a potential £10k+ CC debt is subjective, and they do not know what other debts and payments you might accrue or, even worse, lose your job or income somehow.

I suspect they see it as why should they expose themselves to the potential risk. I'm not saying it's right or I agree with it, but I guess it's as simple as that. Check your reports with all to be on the safe side (pay the stat. £2 it's far cheaper!), and if needs be shop around for a better deal.

And let the great debate of scores scream on.... :rotfl:

nickmack

never-in-doubt wrote: »

They cannot close the account just cos they are not making money from you, so forget that.

I'd say this is (at least a partial) reason why a provider would close an account although they would not admit this.

The usual line is for the customer to go and check their credit report. This often yields no useful purpose other than maybe tempting the purchase of a next to useless CRA 'Credit Score'.

dtaylor84

never-in-doubt wrote: »

They cannot close the account just cos they are not making money from you, so forget that.

Untrue. They can close the account for any reason they feel like, if they give the required notice.

Risco

I had a similar problem, while it was not cancelled I did get it reduced from £2000 to £300 for NO reason!

I rang and complained and it was successfully re-instated.

http://forums.moneysavingexpert.com/showthread.html?t=2010393&highlight=