Frozen account but still got high credit limit? help

pixiecat

HI

A few months ago Halifax wanted to increase my interest from 12.9% to 16.9% so I took the option to cancel the card and keep the rate at 12.9% at that time my credit limit was £5000 but the bill was £3000 approx, it is now down to £2300.
I have just applied for a NMBA card with a 5.9% life balance to try to get this card finished and they refused on the fact that I have 2 loans and this card (I dont work on disability) and my income is low to allow me further credit.
My question is do I have the right to have my credit limit lowered by Halifax as I am unable to use it because every time I ask the person on the phone they tell me because my account is closed they cannot access it to make any adjustments, is this right?

Very frustrated about it all:(

I will be greatful for any help

Lorraine

BugsyBrowne

pixiecat wrote: »

HI

A few months ago Halifax wanted to increase my interest from 12.9% to 16.9% so I took the option to cancel the card and keep the rate at 12.9% at that time my credit limit was £5000 but the bill was £3000 approx, it is now down to £2300.
I have just applied for a NMBA card with a 5.9% life balance to try to get this card finished and they refused on the fact that I have 2 loans and this card (I dont work on disability) and my income is low to allow me further credit.
My question is do I have the right to have my credit limit lowered by Halifax as I am unable to use it because every time I ask the person on the phone they tell me because my account is closed they cannot access it to make any adjustments, is this right?

Very frustrated about it all:(

I will be greatful for any help

Lorraine

You say you applied for a MBNA 5.9% life balance card, but was refused the fact you have 2 loans and on disability, is this just your thoughts why you got turned down as MBNA would not of told you why you got turned down.

If MBNA refused you their credit card it is the fact that you actually failed their credit scoring.

fozmcfc

Well you've shaved off £700 in a few months, if you continue that way it will be clear within a year or less.

If you are struggling for money, then you should try the debt free wanabee board for plenty of support and advice. 2 loans and over £2k on a credit card, when on benefits, TBH I'm not surprised you aren't getting any further credit.

eilidh_s

I have a Vanquis credit card that I am paying off and every few months I ask them to reduce my limit. They aren't happy about it but they do it eventually!

izools

pixiecat wrote: »

HI

A few months ago Halifax wanted to increase my interest from 12.9% to 16.9% so I took the option to cancel the card and keep the rate at 12.9% at that time my credit limit was £5000 but the bill was £3000 approx, it is now down to £2300.
I have just applied for a NMBA card with a 5.9% life balance to try to get this card finished and they refused on the fact that I have 2 loans and this card (I dont work on disability) and my income is low to allow me further credit.
My question is do I have the right to have my credit limit lowered by Halifax as I am unable to use it because every time I ask the person on the phone they tell me because my account is closed they cannot access it to make any adjustments, is this right?

Very frustrated about it all:(

I will be greatful for any help

Lorraine

My mother was in a similar position - Barclaycard with 8,400 limit, closed and just repaying currently has a 600 balance.

The limit was stopping her getting a car loan. The call centre and complaints team were useless but after a very strongly worded letter sent recorded delivery they did reduce the limit to what she asked, which now shows on her credit files, and enabled her to get a car loan on her retirement income.

So if you get no luck calling them, do it in writing, they are legally obliged to comply.

Good luck! :beer:

EDIT:

You might want to apply for a balance transfer to the Creation Mastercard. 0% for 15 months and they're much less finnicky about debt to income ratio than the likes of MBNA.

http://www.your-application.co.uk/netfinancecertegymicrosite/creation/Welcome.aspx?

pixiecat

Thanks Izools I will give them till next week and then ring to see if they have change it, if they havent then I will write to them and get it changed, its so frustrating, especially when I know my credit score is very good.

PNPSUKNET

low income etc does not give you a good credit score,