Credit Card Closed for Non-Use

gazman100

planteria wrote: »

i wonder if spydersweb has any other credit cards

This makes no sense. For starters, how would Halifax know? As I understand it they only do a credit check when you take out the ccard - not regularly (or irregularly) when you have it. Don't you have to agree to a credit check being carried out?

Besides surely their best information on how you would manage a card account is how you're managing the current one?! Which is clearly not struggling with.

Sorry to disagree buddy but as it's Saturday night :beer:

guesswho2000

gazman100 wrote: »

This makes no sense. For starters, how would Halifax know? As I understand it they only do a credit check when you take out the ccard - not regularly (or irregularly) when you have it. Don't you have to agree to a credit check being carried out?

Besides surely their best information on how you would manage a card account is how you're managing the current one?! Which is clearly not struggling with.

Sorry to disagree buddy but as it's Saturday night :beer:

You agree, in the T&Cs when you open the account, that, basically, they can credit check you when they see fit.

Furthermore, they get a monthly feed from CRAs (CAIS from Experian, don't know what it is from Eq), which gives them the full picture anyway.

gazman100

You live and learn

Roger1

gazman100 wrote: »

This makes no sense. For starters, how would Halifax know? As I understand it they only do a credit check when you take out the ccard - not regularly (or irregularly) when you have it. Don't you have to agree to a credit check being carried out?

FWIW, American Express seem to make regular checks.

reclusive46

Roger1 wrote: »

FWIW, American Express seem to make regular checks.

Just to clarify though, they are soft checks, other lenders can't see them.

Chalkup

That sucks

The_Boss

It's good to know this has happened from my perspective. I've not used my Halifax Clarity card since February and was next going to use it on hols in October. I'll do a small monthly spend for the next couple months to 'protect' it.

caleuaj

I had a Halifax credit card which also had a £4000 limit on it. Last year I had a letter from them to say they were reducing my limit to something like
£1750. Since then I have made occasional small purchases on it just to keep it going.

Experian_company_representative

Having the card closed should not negatively affect your credit rating, unless it pushes your card utilisation rate above a common trigger point, such as 25%. More on that in this Q&A. Your report certainly wont show that the lender decided to reduce the limit or close the account as opposed to you.

James

plumber2009

If you have a dormant credit card then expect the account to be closed or have the credit limit slashed.

People need to realise that credit card companies are on this earth to make money. CC companies are looking for profitable customers so therefore if you want to keep an account open then you need to use it. If you want a decent credit limit then you are going to have to leave a balance on the card to allow the CC company to make some money.

If you use the card regularly, pay the balance in full most of the time but occasionally leaving a small balance then you will be fine. just remember to be a profitable customer from the CC companies prospective.

Another no no is using a high proportion of your credit limit. Never ever spend or carry a balance over 50% of your credit limit.