Warning: halifax cutting credit limit at same time as offering you a balance transfer

hummingbird

Hi everyone,

Just wanted to warn everyone about something that has happended to me this week.

I was offered a preferential balance transfer at 4.9% by the Halifax credit card and I took advantage of this as I had a 0% deal on another card coming to an end.

A couple of days after sending my cheque to the other card, Halifax sent me a letter saying they had decreased my credit limit. This menat that the cheque I had written had now taken me over my new limit.

I rang the helpline immediately but they would not agreee to honour the cheque. I suggested my own solution, in that I said I would pay some cash in the next day (I needed £350 to get back under the new limit). Halifax said that would be fine as long as I paid in before 4.00pm. A senior member of staff I spoke to at branch also confirmed this.

However, in spite of my best efforts the cash was NOT credited as promised, and my cheque was still declined.

I am at present still attempting to sort this out, although Halifax have promised to waive the charge for the declined cheque.

Just want to warn everyone not to make balance transfers with the Halifax if you can avoid it!!:mad:

Savvy2Be

Oh dear...just another example of poor service. Sadly I have been with them for years and only this past year have found they have gown downhill. If I were you I would make a complaint as this is something they offered you and you in good faith went ahead....to then be shafted by the credit limit drop. Sorry to hear that...what a pain.

fozmcfc

This is one of the rare times, where I actually agree the OP has a justified gripe with a lender.

I guess they will say it is just all automatically done by the computer, but I would be very aggreviated if this happened to me.

GoToGal

Hi hummingbird

This happened to me too. Luckily I was able to do a BT to another card and asked Halifax to close my account. After receiving a letter confirming the account had been closed, 3 weeks later, I got another letter. This time telling me my card was being withdrawn due to issues with my credit worthiness!

I called and asked why and the CS agent tried to fob me off. Why would they be doing a credit check on a CLOSED account? I'm still waiting for an explanation, they promised to let me know within 5 working days. That was 3 weeks ago...

waynepyrah

@hummingbird I would put in a complaint into Customer Relations at Halifax Head Office... 08457 253 519

Fruit_and_Nut_Case

waynepyrah wrote: »

@hummingbird i would put in a complaint into customer relations at halifax head office... 08457 253 519

....or....

saynoto0870.com wrote:

01422 326460

hummingbird

Thanks everyone for your replies on this - I've been away for a few days so sorry I haven't followed this up. Upshot is I made a complaint but had a letter back saying my complaint had been "declined"!! They have waived the charge though as promised.


One really good thing is that I have become much more determined to get out of debt since this happened! I've been really complacent up to now but lots of cc companies are starting to do some really unpredictable things.:o The sooner I can ditch my reliance on them the better.

xyellowx

i did a halifax balance transfer last month for 90% of available balance got statement monday confirming it had gone through
yesterday i receieved a letter upping my credit limit £2500 was very suprised (will be phoning later today to say no thank you)

find it odd they are upping my credit still paying off large debt put cleared half of it
makes me think they would prefer me to be in a financial mess ?

TFD_2

xyellowx wrote: »

i did a halifax balance transfer last month for 90% of available balance got statement monday confirming it had gone through
yesterday i receieved a letter upping my credit limit £2500 was very suprised (will be phoning later today to say no thank you)

find it odd they are upping my credit still paying off large debt put cleared half of it
makes me think they would prefer me to be in a financial mess ?

If your credit history suggests you can manage this responsibly, payments made on time, etc. then it's responsible. They can give you a limit, but they can't spend on it for you!

If you were to get in a mess, it would be your fault not theirs.

xyellowx

thanks for that great post TFD must be a candidate for post of the year
ive told them countless times im paying the debt off and dont want cards posting to my house or credit limits highering and yes if i went out and maxed the cards out it would be my fault
take it your one of the smug b*stards who come on here mock people then go and check your savings accounts to feel good about yourself if only we were all so perfect