Barclaycard Credit Limits

Chef1980uk

Weird, mine got doubled last month from £600 to £1200 and thw wifes £2000 to £3000. Both of us havn't used the card for nearly a year now and can only afford to pay off the minimum amount.

the_messiah

yeah as previously stated in another post from i think from just over 3500 to 260 for no apparant reason.

poppy_f1

they increased mine from 450 to 900 last month

anitap

Thought I would update you on my Barclaycard situation. Have just paid an extra £100 over my minimum payment and they have reduced my limit by another £150 !!!!!!!!!!

Guess what - no letter informing me of this in advance........nope......just took the money and did the deed - nice one Barclaycard what a brilliant service to provide - only 1 month away from our wedding and as you will see from my initial post we may have liked to use our credit cards for some of the expense but after what they did to us then we soon re evaluated that plan, however it would have been all the same if I had paid extra so I could use it to pay a supplier or someone - didn't even get the chance !!!!!!!!!!

Oh well, they will have me out of the door soon enough and when they do I am gonna cut my card up into little tiny peices and send it to one of their directors with a note saying "thanks for letting me use your excellent financial service - it's been emotional - now reduce this !!!!" :rolleyes:

Robflh

I recently had my American Express card reduced from £10,500 to £7,500. I have never missed a payment on any of my credit cards but I am unemployed and I was when I got the card.

I was told the reduction is because of a change to my credit report. It has not changed.

However, I believe they are being stung by the ever increasing number of people that are opting for an IVA or that go bankrupt.

This is making all of them look at peoples credit limits, to see if it was original a bit on the high side.

By reducing peoples credit limit, fewer people will get into financial difficulties and they will loose less money.

firstnameunknown

This happened to me recently too. I've had my Barclaycard (Initial Visa with the awful 27.9% rate) for almost 6 years now, been near my credit limit for much of it (with interest sometimes taking me over) yet have had two or three increases to the limit in that time, from £500 to £950.

Finally decided to get my finances more in order, so I got a M&S&More Card to transfer my Barclaycard balance to (4.9% for life of balance transfer, was given a £2000 limit), as well as a new current account with Alliance & Leicester, which also came with matching credit card with a better standard rate of 15.9% (this was accepted with a £700 limit).

So, last weekend I phoned up Barclaycard, hoping they may offer some kind of good deal, but also completely prepared to close my account with them if not. I got put through to Loyalty and was offered new rates as a customer of more than 5 years (9.9% if I spend more than £25 a month, 6.9% if I spend more than £50). I thought this was pretty cool.

I then received the letter about my credit limit, dated the same day as the letter I later received about my rate changes. I've gone from £950 to £260. The thing is, it's still a pretty damn good interest rate at 6.9% (which I would easily keep it at, and probably pay it off immediately anyway), but I do feel pretty insulted by my limit being slashed so arbitrarily, so I'm not sure what to do. I was going to apply for a 0% on purchases card sometime soon, and as far as I know I must have a pretty good credit score, so it might be best to ditch the Barclaycard altogether..?

Dylanwing

Good thing you are a loyal customer! This must be very annoying and insulting for you, but I have to admit, it made me smile. Top quality service as ever from our Banks!

appleseed_2

Barclaycard do seem to have an elaborate, dynamic and opaque process in operation from the customer side of things.

With no previous history with Barclaycard or Barclays, applied for a Barclaycard Platinum with 12 months 0% on BT and 3 months purchases in December of last year. Standard APR 14.9%.

First received a letter in June stating that all of my credit limit could be used as a cash advance, this was then followed by a letter stating that the standard APR on all new purchases and BT would be 6.9%. A balance transfer for about 1/4 of the credit limit was made within the first month of opening and repayments have been made at x5 of the minimum. Rather surprised given the experience of others, particularly with the rather cavalier attitude to the cash limit, which is near 5 figures. Perhaps the strategy is to encourage some customers by what appear to be favourable terms into a 'relationship' with good potential yields and then hike charges for no apparent reason - at least one not predicated on a real change in customer circumstances - once this has been established. All rather nefarious.

Chris2000

platinum card
automatic increase from 8000 to 10500 last month

MABLE

Whenever I ask BC for a balance transfer rate they say it is not available to me and yet they said I could have a cash advance up to my credit limit of £8,0000. Very strange.