Soooooooo angry

QueenB.

Got home today to find a letter from our Natwest CC. We missed this months payment, i hold my hands up to that and have just paid it today, only a few days late, but i know not a good thing:o

Anyway aside from saying that we haven't paid and must straight away there was an attached letter which said.............

That they had been looking into our account and due to irregular payments and the fact that we had paid less than the min required a few times they had reduced our limit.

Now i am not too upset about them reducing our limit, we haven't used that card in about 8 months and due to its high interest rate i have no intention of using it unless it is absolutely unavoidable.

What really annoys me is that we have NEVER paid less than the min payment and that actually for the last few months we have been paying almost double it:mad:

So do i phone them about the issue?

DontDoDebtKids

I read somewhere that two big credit card providers (I think one of them was Barclays) were looking to reduce their customers' limits to avoid problems with bad debt...

...but I didn't think they would give quite such seemingly deceitful reasons for doing so!

I would complain. It's the principle really.

rog2

Don't phone - Write a letter and ask for them to reply in writing.

Jesscat

I had exactly the same letter, I was always paying much more than the minimum payment and had never missed a payment when I paid it on pay day as normal but because of the weekend i'd got paid earlier than normal by a couple of days which meant the payment fell in the previous month.
Couldnt believe it! I set up a direct debit after that so at least the minimum always gets to them.
Needless to say they got an ear bashing!!!

QueenB.

It is the principle, i am happy for them to say we have reduced your limit due to a late payment. In fact a few months ago Mint sent me a letter stating they where reducing CC limits due to the national debt problem and all the publicity and again i was fine with that. But to say i have not paid what i know i have is making my blood boil.

Just one more incentive to get this card paid of as quickly as possible, i am reducing all other CC payments to the min and upping the monthly one to Natwest as much as possible, all those pennies and £2 coins will also be thrown at it.

LookingAhead

Hi QueenB! I would be furious too. It is like a slur on your name.
I would definitely write to them.

Good luck with getting in paid off as soon as....you will get even more satisfaction when this one finally goes I am sure!

ZTD

This whole thing is very interesting from an national economy point of view. Typically in the near past, failing to provide a timely payment would have resulted in the "consolidation loan" people calling. Now they are cutting back on credit. Somebody somewhere is getting frightened. Now both mint and natwest are part of the RBOS group, so I'm wondering if they're in trouble, or if its part of a bigger trend.

Has anyone else had their credit limits cut - and if so, by whom?

If credit availability gets cut, then these forums are going to get busier. :grouphug:

*zippy*

Don't take it personally QueenB, alot of us have said its about time the banks started being more responsible in lending, longterm it will save some from getting into trouble. I think the rise in bankcrupcy has frightened them into action. I used to have a cc with a £10K limit I only earned £60 week!

leni

I had my LloydsTSB cut because my first payment was late, BUT I hadn't recieved a statement to know when to pay them!

Why don't you apply for a 0% CC?

BestFootForward_2

rog2 wrote:

Don't phone - Write a letter and ask for them to reply in writing.

I agree. Put it in writing. That way it wastes more of their time. It also means the people who write the silly letters get to see the fruits of their labour, and not the poor person on the other end of the phone.

Put a B in your bonnet QueenB, and go get 'em