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

immoral_angeluk

Just think how many penny sweets you could buy with that £1 though!

Locana

immoral_angeluk wrote:

Just think how many penny sweets you could buy with that £1 though!

Lol!! About 100...!

HairyHandofDartmoor

Well I have just paid off my Barclaycard and have no real plans to use it, so I will be interested to see if they reduce my credit limit to £1.

The cheek of not informing you first is unbelievable!

bobbadog

I wouldn't have thought it made sense for BC to do this - surely it's in their best interest to *encourage* you to spend. Nutters.

JasonW_2

Out of principle, you should send 100 pennies in one of their prepaid envelopes back to them with a suitably sarcastic note.

J

halloweenqueen_2

I closed my virgin credit card today - I only used it for a balance transfer and never spent on it, I was passed along three different people to try and convince me to keep it for emergencies or to save me applying again in future. I'm glad I didn't if this is whats going to happen if you have dormant accounts.

AQUA-IAN

I find it extremely difficult to even believe this post. What possible reason could BC reduce your credit limit to £1 other than not wanting you to spend another farthing on their credit card!!!!

ginger

Beleive it - its true. After 25 years as a customer not abusing the two cards I have (had) B/C reduced the credit limit on one of my cards from £7700 to £10. I rang C/S and they said they have been reviweing all their customers accounts and the reduction was probably to do with my creidt history - although I have not missed a payment, and until recently had balances on both cards. No longer though - I have b/ted the remaining balance and closed both accounts.

moonrakerz

I had an MBNA card with a limit of £16500 on it. I hadn't used the card for about 2 years (was using a cash-back card instead) - in fact, I didn't even have the "current" card as I destroyed it when it came. Earlier this year I had a letter from MBNA, not reducing my credit limit, but offering me 0% interest until Feb next year. I got them to send me a new card and have put all the stuff I am buying to do up a new house on it. When I have paid that off, I will "file" that card again.
I'll then wait and see if they reduce my limit or make another special offer !

netwalk

ginger wrote:

Beleive it - its true. After 25 years as a customer not abusing the two cards I have (had) B/C reduced the credit limit on one of my cards from £7700 to £10. I rang C/S and they said they have been reviweing all their customers accounts and the reduction was probably to do with my creidt history - although I have not missed a payment, and until recently had balances on both cards. No longer though - I have b/ted the remaining balance and closed both accounts.

Amex have been doing exactly the same....

http://forums.moneysavingexpert.com/showthread.html?t=278753

Vastly reducing credit limits on cards without notice or explanation. All the people who have posted have long standing relationships with Amex, high limits and no arrears, defaults, missed payments etc.

It looks as though the credit card companies no longer value loyalty or running your account in a responsible manner. Miss a few payments, pay a few fines and see your credit rating sky rocket! Madness. Julian.