CREDIT CARD limit downed for no reason???

the_messiah

Hi
This week i got a letter from barclays credit card saying my limit has been put down from £3500 to £260 now i havent used the card for over 2 +years and have always payed all my credit cards on time i rang them up and said a credit card with 260 on it is no use having so i cancelled my account with them,The very next day i get a letter from Bank of scotland credit card saying they have upped my limit by 4 and half grand,which i do have a balance on this card.What the hell is all this about am i right to worry about my limit going down or is it just because i havent used the card for so long.I do owe a fair crack on credit cards and loans but i have always payed either the minimum and always on time ie never missed a payment..

vwman_3

Barclaycard have done this a lot recently, there have been a few threads on here about it.........

PBA

They won't have put it down for no reason! If your account has been dormant for 2 years the card issuer doesn't know what your current situation is. You could be out of work, moved away, etc. To reduce their potential risk they can reduce your credit limit. If you'd wanted it back to what you'd had originally you could have asked them, they'd have asked a few questions and done a credit check but would have been able to reinstate if you were entitled to it.

aj3001

As VWMan said, this is a very common thing that barclarycard have been doing recently so don't think your the only one!

the_messiah

Ok thanks alot thats been a great help