Barclaycard Credit Limit Reduction ???

langtoft_lad

Has anyone else experienced an arbitrary slashing of their limit without prior notice for no apparent good reason?

I have a Barclaycard Cashback card which is paid off in full each month via direct debit.
The only other Barclays account I have is a monthly savings account but I have two regular current account with other banks.

I have no debts, no loans - other than a couple of other credit cards (which are also fully paid each month). Own my own house, no mortgage. Been here over 10 years.

I signed up to Experian to see if anything unusual had happened - but no, my credit rating is excellent.

Barclaycard customer services couldn't/wouldn't offer an explanation and now I have to wait for them to call me as I have escalated & initiated an official complaint.

Has anyone else had this - without the obvious reason of either late payments or changes in personal/financial circumstances?

I find it all very bizarre, and can only think that it's a policy to limit their exposure to paying out the cashback reward.

Daisy_Duck

Think Barclaycard are well known for this. Do a search for it on this forum, think you'll find lots of similar stories.

peediedj

barclaycard and mbna have done this to me in last 6 mnoths without prior warning

SarahMoon

Why have you raised a complaint? Its not YOUR money (As its been said many times on this forum) its upto them how they lend and who to.

As for writing to you maybe they did? You just disregarded it thinking it was marketing?

Paul_Herring

Were you actually using the card up to the previous limit?

langtoft_lad

SarahMoon wrote: »

Why have you raised a complaint? Its not YOUR money (As its been said many times on this forum) its upto them how they lend and who to.

Perhaps it's not my money but they have supposedly supplied with a product/service and then not delivered what was promised ie a credit limit of £3k
Totally agree its up to them who they lend to - I thought they'd agreed to lend to me... but if they don't want my business after all then have the courtesy to tell me, not just cut me off.

SarahMoon wrote: »

As for writing to you maybe they did? You just disregarded it thinking it was marketing?

No they did not contact me - they admitted such - they just left me embarrassed holding a worthless piece of plastic.

Paul_Herring wrote:

Were you actually using the card up to the previous limit?

Admittedly not up to the absolute limit, but certainly way in excess of the pathetic amount now granted.

Daisy_Duck wrote:

Think Barclaycard are well known for this. Do a search for it on this forum, think you'll find lots of similar stories.

I did search "Barclaycard" but for some reason I could only view the first 25 out of 300 results - and none of those were similar (excepting those who had explicable reasons such as late payments)

I will determinedly go through the processes for an explanation but if it simply their business practice, then their product is of no use to me & they have plenty of competitors.

It is but education & enlightenment I seek .

jenny_13

langtoft_lad wrote: »

Perhaps it's not my money but they have supposedly supplied with a product/service and then not delivered what was promised ie a credit limit of £3k
Totally agree its up to them who they lend to - I thought they'd agreed to lend to me... but if they don't want my business after all then have the courtesy to tell me, not just cut me off.

Yes they did agree to give you a £3k limit but if you check your terms and conditions they retain the right to amend your credit limit at anytime as they see fit.

langtoft_lad

jenny_13 wrote: »

Yes they did agree to give you a £3k limit but if you check your terms and conditions they retain the right to amend your credit limit at anytime as they see fit.

I do understand they have the right, I really do!
What I am failing to understand is the reasoning behind them exercising those rights.

I've now managed to access more than one page of search results and perhaps see that there is no logic behind their arbitrary decision making, perhaps it's just the Barclaycard Way?

Until I'm given a plausible reason otherwise - I shall assume its because they want to limit their exposure to the 1% cashback liability.
After all Citicard recently discontinued its 3% Shell and 1% Platinum

deadthings

Obviously your thread has been affected by worthless trolls such as jenny_13 and SarahMoon. They come on forums like this just so they can act superior and try to belittle people like you.

Ignore them. Don't feed them. Don't respond to them.

They are bland and their lives worthless. If we all ignore them they will fade back into worthless obscurity.

The point you need to be aware of is the bank doesn't value your custom. They are treating you like a number on a balance sheet. If you want better, you'll need to close the account and go for a better rate card with better customer treatment. It's always the best way.

Again, ignore the trolls and just respond to those who are being helpful.

D.

langtoft_lad

Some limited amusement can be had by poking trolls with a pointed stick, so the world would be an emptier place without them...

Of course Barclaycard will have to do without the income my transaction charges would have made them unless they make the unlikely move to reverse their decision - but they would have done anyway in due course as a better product came along my path - of my many faults, inertia is not one!

But I am a curious & inquisitive soul, and have found much wisdom amongst the Followers Of Martin :money: in the past, and thought it may be so this time again.
But perhaps it's not to be, because there is no answer ?

SarahMoon

deadthings wrote: »

Obviously your thread has been affected by worthless trolls such as jenny_13 and SarahMoon. They come on forums like this just so they can act superior and try to belittle people like you.

Ignore them. Don't feed them. Don't respond to them.

They are bland and their lives worthless. If we all ignore them they will fade back into worthless obscurity.

The point you need to be aware of is the bank doesn't value your custom. They are treating you like a number on a balance sheet. If you want better, you'll need to close the account and go for a better rate card with better customer treatment. It's always the best way.

Again, ignore the trolls and just respond to those who are being helpful.

D.

I am not a troll

I mearly said its upto the bank who they lend their money to. You took offense to this it seems? Maybe because you disagree with it (one of the its my human right to have a credit card).