Barclay Card Credit Limit

udydudy

smithja wrote: »

Hi scoobyra. I applied for a Barlcaycard in March and it was declined but accepted on manual appeal with a limit of £3500, it is an initial card with the higher APR. I have found out today the limit has been reduced to £260!!!

Had my credit limit reduced from 8750 to 970, o/s balance on card was 916!!! Am really surprised as there is no change in my financial scenario and have held the card for nearly 4 yrs now with timely payments (not necessarily in full) , balance transfers but still they seem I am not a good enough customer.

I planned on cancelling the card but after reading your post am thinking of writing in with details and asking for a reinstatement of the limit.:mad:

smithja

So we are not alone.

At first I did wonder if I had been given a limit of £3500 by mistake, but then I thought if that had been the case it would have been changed to £350, as its easy to put in one too many zeros in error.

After it happened and I read the post on here, i googled it and came across a number of sites stating Barclaycard are really cutting back on accepting applications, and cutting credit limits as their bad debt levels are so high.

Someone on Monday morning is going to have a hard time of it as I ended up sending 4 emails, 2 about the error and manual credit scoring, the next one with an Excel spreadsheet taken from my LloydsTSB current account using their website, and finally a copy and paste of my account information from Experian's credit expert (because they use Equifax and the data may differ), pointing out I have never had a single late payment on any account ever and I would not take anymore on the card than I could afford anyway regardless of the limit. So will see what they say.

I have a few email addresses that you might find useful, James.Blair@barclaycard.co.uk he is a Customer Relationship Manager for Barclaycard, and steve.fanning@barclays.com he is another Customer Relationship Manager but this time for the CEO, and as I have said in previous posts I have learned over the years (through having had the opportunity to sit in the boardroom of a large company with some directors, and talking to people in call centres) that it is easier and faster to start at the top and ask them to sort it out, as they look for the person they pass it onto to report back when the problem is fixed.

Good luck.

James

MARTIMAN

MRSTITTLEMOUSE wrote: »

I had mine increased 2k without even asking but then when I tried to do a BT they said they couldnt do this as I already had a BT on my account.Need to add, had this account for about 10 years with never a late or missed payment.Can't see the point of upping my limit if they wont let me use it for what I want to.The BT would of been within 80% of my credit limit.

Was your last BT done less than 6mths ago, I dont think they allow 2 within that time, if not, then dont know why they said you couldnt do one,I already had a BT of 6.9% for life when they upped my credit,like i said above I requested another increase for another BT it went through fine.

lynxptc

It seems a coincidence that Barclaycard reduce limits to £260, I suspect they reduce the limits of high-risk or non-profitable customers to this amount.

smithja

Hi lynxptc

I take it other people have had the same thing happen then. I thought it an odd amount too, if the £3500 had been a mistake i could understand it going to £350.

They told me over the phone yesterday it was a simple mistake and now corrected, but that does not explain it. It is not what the letter I finally got says, plus they have stopped me taking any cash advances in the UK. I was not going to anyway as they are so expensive, its the nasty tone of the letter I really did not like. They give me £3500, drop it to £260 (on 27 April, the card start date is only April) then write to me as if it is my fault and I somehow conned them.

But I feel sorry for the man and woman in customer relations I have been emailing since I found out, when they come into work tomorrow they might wish they had stayed in bed.

I am still hoping that because I was originally declined by automated decision, and an underwriter manually reviewed it and gave me that limit, that the reason it has gone down is more automated credit scoring. As I did not score highly enough for a card in the first place, I image any further scoring that gets carried out will cause me to have the lowest score, hence giving them reason to drop my limit. Someone in customer services said "I notice you are down as unemployed", kind of implying it was part of the reason, I wonder if they have a category for early medical retirement it would be more appropriate.

James

Mutton_Geoff

Does anyone have a Barclaycard that they pay off in full each month and had a credit limit increase?

I have paid my balance off in full every month for the last 3-4 years but they have not changed my limit from £8,750 at all. When I was rate tarting some cards 2-3 years ago, almost all the new cards came with a £15k limit. I don't spend anymore than a few hundred on the Barclaycard each month, so I guess they see no reason to increase the limit. They may take a different view if I owed close to the limit at the end of the month.

msaquib

When I initially had the card they gave me a credit limit of £4000 which was accepted online not referred.

I transferred my other card balance of £3300 to Barclaycard. I always paid more than the minimum payment and the balances is now £2600.

Received letter from Barclaycard advising me that they have decreased my limit to £2900.

Not sure why, I have not applied for any credit or missed any payments on any of my existing credit agreements.

They are just doing it to everyone.

MS

smithja

Yeh, i know it it happening a lot it comes up on a number of newspapers website's through google.

I was just rather annoyed about the amount from £3500 to £260 in less than one month, as per the guy who started the thread I have not made a payment either my first statemet is not due until 9th May.

James

MABLE

I have two credit cards with BC. One with 2.9 life of balance transfer deal and the other one with 5.5k credit limit which I have never used. They have never reduced my limits but on my authority I requested my card with the low bt on for the limit to be reduced down to 2.3k.

lynxptc

With such a low limit of £260 it's better off just closing the account down and getting another one with a higher limit.