Credit Limit Slashed without Notice

taylor11_2

Was there any particular reason you were buying petrol on your credit card ?

What a stupid question to ask. I pay for my fuel with my credit card every month then pay it off. People blance their outgoings in different ways.

Did they cheque reach Lloyds on time and clear in their account? I had an issue a number of years ago when I sent a bill payment and selected the wrong month on the payment. They reduced my credit limit to just above what was owed and when I called and explained the situation they refused to increase the limit back to the orginal amount, however, they re-instated the 0% promo (first ever credit card).

droiderm

taylor11 wrote: »

What a stupid question to ask. I pay for my fuel with my credit card every month then pay it off. People blance their outgoings in different ways.

Did they cheque reach Lloyds on time and clear in their account? I had an issue a number of years ago when I sent a bill payment and selected the wrong month on the payment. They reduced my credit limit to just above what was owed and when I called and explained the situation they refused to increase the limit back to the orginal amount, however, they re-instated the 0% promo (first ever credit card).

Easy. I do too, the difference being I never carry a balance on that card.

I was only trying to understand why they have came down on you, I was thinking about changes of behaviour etc.

I won't bother asking anymore stupid questions.

wardyface

I didn't say it was a stupid question, I answered you properly. No change in behaviour and when I rang them they didn't say my payment had been late. I know I sent it in good time and that it was way more than it needed to be

When I get this letter I will either write or phone to ask what their reasoning is. It's the not knowing that gets me

~Chameleon~

droiderm wrote: »

Was there any particular reason you were buying petrol on your credit card ?

Any particular reason why he shouldn't? I buy everything on credit card, including petrol!

droiderm

~Chameleon~ wrote: »

Any particular reason why he shouldn't? I buy everything on credit card, including petrol!

Any reason why you didn't read the post two above yours ?
Any reason why you don't have any suggestions why his limit got slashed ?

Any reason I am even responding to you . . .

jules888

I pay for all i can on my credit card as its a cashback one and as we pay off in full every month its fine.Ours has a £7000 limit but normally spend about £1000 on it.Not good this sort of thing can happen.

JethroUK

wardyface wrote: »

Lloyds TSB. I bt

i think I can explain

I stopped banking with Lloyds TSB (just Lloyd's at the time) about 10 years ago - just cleared out my account when I put all my money with first direct

didn't hear anything from them for nearly 5 years (didn't expect to)

about 5 years ago they sent me a paper statement showing a balance of about £1.70

laughed and threw it in the bin

next month another statement showing same balance - chucked that one too

about 6 statements later, common sense had still not prevailed (how much is it costing them to send it each month? more than £1.70 I expect) I decided to call them to stop it and/or close the account but they would do neither without my password which I don't know and in fact never had (no such thing as phone banking when I had an account)

anyway, they simply refused so here I am knee deep in statement for the same £1.70 that have been arriving every month for the last 5/6 years

and 'that', my friend is why Lloyds/TSB can no longer afford to maintain your original credit limit

and for that, I humbly apologise

wardyface

Thanks for that information. Oh dear, it doesn't give much grounds for optimism does it.

~Chameleon~

droiderm wrote: »

Any reason why you didn't read the post two above yours ?
Any reason why you don't have any suggestions why his limit got slashed ?

Any reason I am even responding to you . . .

I reply to posts as I read them. I hadn't read that reply when I answered

planteria

they are reducing their exposure, so Lloyds and Halifax cards are having limits slashed fairly regularly lately
if anyone is plunged into the red as a result they have a good case to complain & get sorted