Bank of Scotland Credit card limit problems

SBOSlayer

Hey all,

I was wondering if there is any help available for this. I am currently doing my own research, but didn't think it would hurt to ask for opinions here.

Currently I am a part-time student and will be returning to full time shortly. However, throughout the last year I was in a significant amount of debt. I then took a job in ASDA and went off Job seekers allowance (although im only contracted 11.5 hours) I usually do over time to make up for the 16 hour limit.

As a result my credit card was in serious arreas and I was in a massive amount of debt, however within a space of 3 months I paid off the entire card by October 2012 and additionally by now I have nearly cleared off all debt (until I found out housing benifit has been messing with my rent). The limit was reduced to £150 per my request.

Now it has a set balance of £150 I tend to use about £140 of that each month and then pay off the balance each month in full so the account is then at £0 owed. I then use this card to pay my bills again, until I get out of this rent issue. Due to this I Rinse and repeat each month to increase my credit rating.

Now the account is paid off in full each month and has been for the last 9months, but before it was on an arrangement.

Here's the issue i'm facing. In March they reduced the limit to £100 I then complained and got it back up, however they have now done it again today and as a result I am now back to £100 and it is now over the limit amount with charges.

This is ridiculous, not to mention the fact it costs to call the Bank of Scotland. Additionally it is costing to call them and wasting my time quite frankly.

Is there anything I can do?

Any help would be appreciated and hopefully my reasearch will bring up some answers before reporting them to the FSA.

Thanx guys

Macca83_2

You're a risk. Yes you may have worked yourself out of your debt, and kudos to you! But you're still a risk. You had arrears and you only work 16 hours a week. Id say they're probably trying to reduce their exposure. Unfortunately the last year is not gonna work in your favour for the foreseeable future.

rb10

They have every right to reduce your limit whenever they like.

Most importantly, get your account back within the limit asap.

Keep spending on it and paying it off each month, but make sure you stay within the limit. As more time passes with a good record, you should have a greater chance of increases.

SBOSlayer

Thank you for the info. I do think it's unfair, but I have received a credit and launched a complaint. We'll see how that turns out, however I've came to the conclusion that I will just accept the limit and leave the bank once my credit rating increases althought i has been marked as good... compare to last years poor. Getting there slowly, but surely :P

chanz4

It cant be that good if they keep lowering your limit

jonesMUFCforever

OP do you have any other debt - student overdraft? Any other cards or accounts which are overdrawn?

If the answer is no - then I suggest that you make an appointment at a branch where you can explain yourself and get them to ring their card services on your behalf to sort out the limit once and for all.

SBOSlayer

I actually do a have a student overdraft. The account is now back in limits and paid off. I am still not happy with the circumstances. I have just made a substantial payment to my student over draft recently. The last bit of debt

Thanx for the help