Aqua credit card

Wheeler01

Hi

I have an Aqua credit card that presently I do not use. I received a letter from them about a month ago stating that Halifax will no longer be dealing with this card.

Yesterday I received another letter saying that as I hadnt used the card for 6 months they are reducing my credit limit from £1450 to £700, less than half.

I cant understand why they have done this, I have no intention of using the card with a 35.9%APR but any ideas as to why my credit limit has been reduced??

neverbefore2011

Wheeler01 wrote: »

Yesterday I received another letter saying that as I hadnt used the card for 6 months they are reducing my credit limit from £1450 to £700

It's standard practice since the credit crunch - not long ago they were continually increasing the limits, but times change - don't read anything into it

Tixy

Just reducing their potential debt exposure. If you are not using the card they aren't making any money out of you having that limit.
So they'd rather be able to offer that available credit to someone who will use it and who they'll make money from.