Why might we be getting dumped by Halifax?

aliasojo

Just had a letter stating....

'Following the most recent review of your Halifax, Bank of Scotland and external credit bureau records, in line with our commitment to responsible lending we have reduced your credit limit to £500 (from £6000) and your account will be closed 30 days after you have received this letter. You will not be able to reopen this account.'

We were also told to destroy our cards immediately.

This is the first time this has ever happened to us and I'm not sure what to make of it or why it's occurred. We don't actually owe anything on the card at present so it's not the end of the world, but it makes me feel like we're somehow bad customers and that bothers me because we're anything but.

We have outstanding balances on 2 other 0% cards but the amounts are well within comfort zones. We also overpay everything and have just cleared off a 0% loan almost a year early just because I wanted to simplify things.

Any ideas why we got this letter?

I don't know if this is relevent or not but we also have 6 Reward accounts between us and transfer £1k between them all to get the £30. I did wonder if this was linked in any way.

tiff

It might be because you havent used that card for a while so they are taking the opportunity to reduce their exposure? Not very friendly wording though.

aliasojo

Thanks for the reply. You're possibly right but if that's the case why couldn't they just say so rather than giving off such a negative vibe about it, iyswim. Not the most customer friendly letter I have to say.