irresponsible lending

topsy1973

I did wonder when they did it...I definately got no notification of limit being lowered....

Sharon

looby75

How long ago was this? Did you miss payments or anything before they lowered your limit?

One of my biggest debts is to MBNA and if they lowered my limit very far I would be in the same situation. :eek:

topsy1973

No payments missed always paid monthly...
I owe them 6600 and they refuse to lower interest to help me get debt down...this hurts when I pay 200 a month and interest is in the region of 150 a month....

Sharon

looby75

_pale_ it's a scary thought they can just do that

snoopy_and_woodstock

Hi Looby,

i used to have a Halifax CC and although i could bearly afford the min payments everymonth they kept upping the limit till it reached £3600 (i was only earning £5500 per year) and it always happened around xmas time. I had to take a loan out to repay it cause the interest almost crippled me but now it's all gone, i stear well clear of halifax from now on they were very unhelpful.

it was the best feeling in the world shredding that card!!! Good luck with it all.

Snoopy

looby75

Thanks snoopy, funny about it always happening around christmas :rolleyes:

Broken_hearted

Littlewoods double your available spends at christmas. One year I was offered £3,000.

looby75

Broken_hearted wrote:

Littlewoods double your available spends at christmas. One year I was offered £3,000.

:eek: and I thought being offered an extra £500 was bad!

MABLE

looby75 wrote:

The nasty bloke I spoke to said he had put a note on my account that I had had a bereavement in the family which was why I couldn't pay but said it wouldn't stop them from adding charges to my account though, don't know if he actually did what he said he was going to though.

I phoned them this morning and asked why they had upped my credit limit, and the girl I spoke to said that yes there was a note saying I had called to tell them about the problems I was having but because I had managed to pay the min balance that had been "unflagged" (what ever that means) I asked her to reduce my credit limit back to what it had been and she said she would, after trying to talk me out of it and told me that me refusing credit might hurt my credit score! To which I replied, "Not half as badly as running up more debt that I can't afford to pay back will" LOL She also tried to get me to take payment protection and identity theft cover too. Like I can afford to pay even more right now!

After the call (a tiny) part of me thought I should have just said "sod it" and blown the lot, then paid them back £1 a week.....good job at least one of us is responsible!

I think we all sometimes feel that if we cannot get what we are asking for the person at the other end of the phone is being nasty. However I think it is completely unacceptable that they increase your limit bearing in mind your reduced circumstances. Personally I would have kept it and just because it has been increased dosn't mean you have to spend it but could be very useful in an emergency.

looby75

MABLE wrote:

I think we all sometimes feel that if we cannot get what we are asking for the person at the other end of the phone is being nasty.

no not at all. I wasn't actually asking for anything other than advice, he was very very abrupt with me, kept telling me I HAD to pay in a very aggressive tone of voice. When I started to get upset (I was explaining that the problems were partly due to a death in the family), he barked "well that isn't going to help is it" It says on the back of my cc bill "if you are experiencing financial difficulties repaying the minimum amount on this statement please contact us on {phone number} to discuss your situation.

So I did, and got shouted at for being honest.