Bit of a muddle up

rkuk

Short story. Wanted to BT £3k from barclays to new provider (creation cards). When I applied I said I wanted to move £3k. I was a successful applicant, but they gave me a credit limit of £2k.

So I thought I'd have to wait until my account was opened and then shift across the money (£1800 I believe would be the maximum I could shift from advice off a fellow MSE'r).

Well it looks like I don't need to wait as logged in to barclaycard today - balance is £126 in CREDIT. The creation card must have withdrawn the £3k (which was the exact balance), and then barclaycard took my monthly DD of £126.

So:

1. I'm worried I'll be paying interest on my creation card at over £1k limit on top of my credit limit.
2. How can I get that £126 back from barclaycard? Do I need to spend it? Can I just withdraw it into my barclays account?

I'm sick of credit cards!!!! I have the money, I'd rather just spend that, but it takes so long to save up (which is rubbish when doign a house refurb!!!)

Any advice?

p.s. I can't even log in to the creation account to look at it, as waiting for my card and details to come through. Gutted my 0% has run out with barclaycard - they have been pretty good. Also got my credit report through - I can't see any major errors with it, so wonder why I'm struggling to get credit. I'll make a new post about that though.

Eonel

1. Speak to creation & find out what has happened. They will not execute a balance transfer that takes you over your credit limit. If they have made a mistake in this case then you should have no penalty fees to pay.

2. You can spend it or explain the situation to them & as it is a genuine timing issue they will refund it.

rkuk

Thanks Eonel!

That makes sense....probably why I didn't think of it? :-/

Update - all sorted. (the new card issuer, gave me a bigger credit limit than I they first indicated!) Refund from old card done. Phew!