Yo-Yoing credit card limit

emiliah

I have a BOS credit card which had a large amount of unused credit on it.
About 6 months ago I received a letter stating due to the fact they were 'responsible lenders' they were reducing the limit to about £200 above the outstanding amount.
I wasn't too bothered as if I'd used the amount available (approx £7000) it would have been a problem.
Anyway, 4 weeks ago another letter arrived saying - good news your credit limit has been increased by £1000.
I haven't been using this card as the interest level is high, and slowly trying to pay it off.
Yesterday, yet another letter saying due to be responsible lenders..... they reduced the credit limit by £900.
What I'm wondering is will this yo-yoing affect my credit report?
On reflection I should have just refused the £1000 increase, but didn't bother:(

KingElvis

Sounds like computer based decisions and letters.

Doesn't it make you laugh?

sharpy2010

It wouldn't make me laugh, it would irritate me.

I cancelled my Next account for exactly this reason, although Next are very well known for being the worst offenders at this.

NeverEnough

Egg are another bunch who do this regularly - I've had two Egg cards for years, never a late or missed payment, and just last week got two letters - one for each card, reducing my credit limits sharply as they were being "responsible lenders". So I sent them an email via their website and was told that Experian had provided this "adverse information" - checked Experian and......NOTHING AMISS there!!! No loans, a mortgage (paid on time every month and in advance by at least a year), no store cards, a few credit cards, had them all for years, never missed any payments. On electoral roll haven't moved house for years.........it makes no sense whatsoever. Have heard about a number of equally bemused Egg clients over the years but not been affected myself till now. I think I'll just continue paying them up and tell them to get lost, I don't need the cards anyway, was just keeping them "in case".