MBNA lowered my credit limit by £7000!!!

JA1000

Decided to push this a step further and contacted Mr Egg who has decided I am good and and has given me £7500 limit.

In the last couple of weeks also, Barclaycard pushed one of my cards with them from £10k to £12k

It's all a game and MBNA are just playing it but how good are they? Good enough to lose good customers who pay off in full.

Oh well happy to say cheerio to the yanks.

BugsyBrowne

JA1000 wrote: »

Decided to push this a step further and contacted Mr Egg who has decided I am good and and has given me £7500 limit.

In the last couple of weeks also, Barclaycard pushed one of my cards with them from £10k to £12k

It's all a game and MBNA are just playing it but how good are they? Good enough to lose good customers who pay off in full.

Oh well happy to say cheerio to the yanks.

Does seems a bit strange someone who has 50k in available credit,is so determined to get another card just because mbna have decreased your limit,or are you telling a little porkies about your 50k available..

Tixy

JA1000 wrote: »

A credit card with £500 is completely useless to me so I'll look elsewhere, the problem is MBNA are hidden behind so many cards.

Not exactly hidden. In any application form it will tell you who the funding is povided by - or you could check a list such as this one - http://www.stoozing.com/cards.php

JA1000

Why not?
B/C 1 £12k
B/C 2 £10.5k
Cap 1 £8k
Nationwide £9.2K
MBNA £4.5K
MBNA £7.5K

As was replace the last one for Egg now. Having bought a house with the help of CC years ago I see them as very useful if used correctly.

chattychappy

star-fire wrote: »

Does seems a bit strange someone who has 50k in available credit,is so determined to get another card just because mbna have decreased your limit,or are you telling a little porkies about your 50k available..

I've got a lot of unused, available credit. It's just the terms are not very attractive - so I still look around for new deals. I don't like to close the unused credit facilities just in case they come up with offers. I have 3 zero-balance cards with limits 10K to 12K, but if I were to cancel and later reapply I expect I would be given lower limits. Anyway NatWest got spooked by this and closed my card with them.

In fact, looking back I've found I've got credit easily when probably I was a bad risk, and found it difficult when I was a low risk. Maybe I'm an odd case but it seems the risk assessments are way off in my case.

BugsyBrowne

JA1000 wrote: »

Why not?
B/C 1 £12k
B/C 2 £10.5k
Cap 1 £8k
Nationwide £9.2K
MBNA £4.5K
MBNA £7.5K

As was replace the last one for Egg now. Having bought a house with the help of CC years ago I see them as very useful if used correctly.

Now that is something i would hate to see on my credit report,its nice having a couple of nice limits,but yours is way over the top,but you say you have all that available to you so why apply for the egg card..
Now you have 57k of the banks money available to you..

udydudy

star-fire wrote: »

Now that is something i would hate to see on my credit report,its nice having a couple of nice limits,but yours is way over the top,but you say you have all that available to you so why apply for the egg card..
Now you have 57k of the banks money available to you..

Just coz the OP has £57k available does not mean he/she is over the top!!!.. Like the OP has said if managed properly credit is extremely useful. I like the OP bought a house using various credit facilities. over the past 5 years I have paid all credits and then borrowed again(new offers) and also built up a nice nest egg for later years.

Simly put if I can borrow at 1%-3%(avg 2.35%) and save it at 6.10% tax free(in ISAs) why should I not!!!.

My credit limits are over £60k added to that the OH has credit limits of £45k with a combined O/s of £30k. which is more than covered by savings. I would feel like the OP if my limits were reduced just because having high available limits helps manage credit and make some money!!!...

The bank makes money as obviously when I borrow I either pay 3% BT fee or a low interest of 0.9% where BT fee is low.

yeah they may not make big money out of ppl like us and the OP but then they do not lose either as we would never default.

The problem is the risk management is based only on lending as that is the only data they see on the credit files what they do not have on the credit files is the savings.

I would guess the OP has banking facilities with barclays and hence the high limits there. The banks where I have high savings have given me atrocious limits just coz they can see what other lenders cannot see. i.e. our savings!!!!

bryan8237

hi, glad when my mbna card is cleared, i got a good deal last year woth 0% fo 12 months, now trying to clear the lot by xmas. £2800 to go after this month.

keet83

Nationwide reduced mine from £1800 to £500 giving me about 2 weeks notice, i phone them questioning them and they came up with a petty excuse of
'you dont use all of your credit limit so for the safety of our customers we have reduced your credit limit'
a load of rubbish, I have always paid in full and never missed a payment. I wrote a strong letter threatening to leave them as I had been a customer with the for over 10 years but they still refused.

It is the sensible customers that are getting punished for the risky customers and stupidity for bank managers.

Write them a letter of complaint and threaten to leave them is the only option really; if they refuse to increase it to its original limit then leave them, if you have a decent credit score then you should be able to get one elsewhere.

bryan8237

hi, does mbna calculate interest on a daily basis?

i paid 5000 off my card on 01 30/06, this months payment wasnt affected, but neither will the payment i make in august.

my payments wont reduce until september.

No wonder so many people default on their payments, try to clear the balance and they still rip you off.

MBNA = Rip off.