Barclaycard question

ElkyElky

langtoft_lad wrote: »

I've just been bemused by Barclaycard - for no apparent reason, and without telling me in advance they've reduced my limit from £3k to £500!
I only found out when I tried to pay for some petrol - customer services were worse than a chocolate teapot as to offer an explanation.
I have a good salary, no debt, own house no mortgage, pay off my card in full by direct debit - I've checked with Experian, my credit rating is excellent.
It's all a bit of a shock!
I'll await their explanation with interest but the bottom line is that unless the credit limit is re-instated, the card is worse than useless.

My guess is that this is a less than subtle way of limiting the amount of cashback they will have to pay out.

Go elsewhere if you're not happy. The credit agreement you signed stated that the credit limit is variable, meaning they can and will reduce or increase the limit as they see fit, without giving an explanation.

Lenders won't tell customers in advanced that they will be reducing the limit because customers may run up a large bill before they can reduce the limit.

Try the AMEX cash back card.

langtoft_lad

Oh I will go elsewhere if I don't get a reasonable explanation and my limit restored to a reasonable usable level - just bemused as to why they might do this? I've had credit cards for thirty years plus, including Barclaycards and this has never happened before.

nikkijj_2

Hi

Since my first post Barclaycard have reinstated my credit limit of £3000 and as a bonus have now removed my late payment off my equifax file as not showing me even having a barclaycard does not show on experian or call credit.

So now have lots of lovely green 0's