Barclarcard have slashed my credit limit to £1 !!!!

Murtle

Blimey, I'm sure I'm not the only person who doesn't spend on credit cards and gets them increased! As much of a shock that way too...

Reducing it to a £1 doesn't seem worth the paperwork to amend it though - very strange!

regularsaver1

mind you Murtle - I had no balance on my Halifax one card and they sent me 0% credit card cheques in the hope i'd transfer a balance from elsewhere- but I don't have a credit card balance anywhere

johnmoney05

you serious? it sounds like a trap. don't you think?

Christal_2

I know I shouldn't, but couldn't stop laughing after I saw the OP......

CheekyHippo

Chistals!!! Be ashamd of yourself, this is no laughing matter. You should not take pleasure from other fourmites situations. What happened to the supporting caring approach. What has happened to the OP is not nice and shows how evil Barclaycard are!

Gordon_the_Moron

If they did this on purpose then they're idiots, they should have just cancelled if they didn't want you as a customer, a £1 limit is ridiculous. What next, you apply for a card when you've got a bad credit rating, they don't decline you but offer a limit of 1p on your card?

If that is the case spend 1p on the card every month and pay it off with a cheque (if they send a pre-paid envelope) or online transfer otherwise (still would cost them more than 1p and wouldn't cost you)

To spend 1p on the card every month is easier than you'd think, Tesco's self service checkouts allow mixed cash/card payment. Buy something like a paper, put enough cash in to pay for it less 1p then swipe your card. I don't know if Asda's checkouts let you do mixed cash/card as I've not tried it.

In all seriousness it sounds like a mistake though, ring them up (not on an 08 number) and find out or go in your branch and ask.

suefink

I called customer services today and they told me they are reviewing all accounts and have reduced my credit limit prior to closing my account because I have not been spending regularly on it. I have had the card for over 12 years though, and been spending on it occasionally, this has never been a problem before!! Apparently they are in the process of sending out letters to customers informing them that they will be closing accounts, but I still think its really sneaky reducing credit limits first without any warning.

I get the feeling that unless you have a balance and pay Barclaycard interest, preferably at 19.9% APR they are not happy and do not want you as a customer. Is this really "responsible lending"?

So now I will have nothing to do with Barclaycard or there products again, they used to be a good company.

Thanks for all the comments, I like the idea of spending 1p on the account, but they are actually owe me £1.31 - think i'll ask them for a cheque!!!

heppy23

I wonder this is the beginning of a backlash from the card companies after they got their knuckles rapped over card charges and late fees.

anniecave

Well I'd never considered a company would do this. I've had several cards I didn't use for ages, and I never thought they'd suddenly reduce the limit. I cancelled them in the end, so I never found out.
I guess the lesson is to use a card every so often if you want to keep it. I guess once every six months is probably good enough.

furndire

I have several credit cards with quite large of credit on them that I have not used for ages. Egg was one of them, in fact, when I e.mailed them to close it they did nothing. Perhaps now they will close it. To be honest, I would be happy if they do close some of them, it will save me having to write to them to do it. When I realised in March I was not going to be in a great financial postion, I cleared all the balances off, and just kept a couple which I clear off every month - just to get the loyalty points & cash back.