Nationwide CC limit zapped

JohalaReewi

Had a letter out of the blue from Nationwide saying that as a 'responsible lender' they had reduced my CC limit to £500. When I rang to query why I was told that there was something wrong on my credit file at Experian but I could appeal if I wanted to. So I said yes to the appeal and got a copy of my file from Experian.

Nationwide said no to the telephone appeal and when my experian report arrived, it looked pretty much the same as ever. Not only that, there was no indication that Nationwide had searched my credit file. So I am still mystified as to why the sudden and dramatic reduction. I did appeal again in writing but have had no response.

Meanwhile, I applied for a Saga Visa who said yes, so it looks like bye bye Nationwide.

Cash_Flow

JohalaReewi wrote: »

Had a letter out of the blue from Nationwide saying that as a 'responsible lender' they had reduced my CC limit to £500. When I rang to query why I was told that there was something wrong on my credit file at Experian but I could appeal if I wanted to. So I said yes to the appeal and got a copy of my file from Experian.

Nationwide said no to the telephone appeal and when my experian report arrived, it looked pretty much the same as ever. Not only that, there was no indication that Nationwide had searched my credit file. So I am still mystified as to why the sudden and dramatic reduction. I did appeal again in writing but have had no response.

Meanwhile, I applied for a Saga Visa who said yes, so it looks like bye bye Nationwide.

Welcome to the world of monthly data feeds.

Don't be offended by their actions it's not personal just business.

noah271007

It seems a lot of lenders tell BIG FAT LIES to their own customers about their credit worthiness....

They should simply have said "we like to reduce limit because we feel this is sufficient for your needs"

Yes they're business at end of the day, but definitely a shoddy business treating customers like cash cows!

This reminded me of what happened to Egg CC's customers (a couple years ago) who many of them have excellent credit history and yet Egg wrote to them saying they are closing accounts/reducing CL due to information from CRA's. It is just a load of tosh!

Close Nationwide CC, they obviously don't want your custom.

JohalaReewi

Cash_Flow wrote: »

Welcome to the world of monthly data feeds.

Sounds interesting...

Don't be offended by their actions it's not personal just business.

Not offended. I only use them as a backup to Amex (and for forex transactions) but still manage to put more than £500 a month their way so it's a bit of an inconvenience for me.

Looking forward to Saga, they still have no commision on all forex (not just EUR) and interest free forex cash withdrawals if paid in full at next statement (2% handling fee though). :beer:

smartpicture

Actually it's "we like to reduce your limits because it makes us look better to the FSA to have lower levels of money potentially available to customers in this way, but currently unused. it's got nothing to do with your credit rating."

They recently took my overdraft away because I hadn't used my flex account for 3 months - although it had a few hundred pounds still sitting in it, and I have a great credit rating. It's nothing personal.

micmac22

Lloyds platinum cc did the same to me in january as account had been inactive for over 12 months reduced it to 1k limit. was not being used as i took a reward card out instead. cu tit up andsent it back to them.