Beware - Your Card limit may reduce suddenly

peawack

Jamal-you really should get out more often.

wyebird

I would think that the least a bank can do if they are going to do this is phone their customer to warn them. It hasn't happened to me, but I would imagine it's very embarrassing to have a card declined at least and possibly worse than that. What if you had gone abroad and had planned to hire a car at the airport and the deposit authorisation wouldn't go through ( this did happen to me due to another problem and there were 6 of us stuck in an airport 100 miles from the house we had rented which was in the middle of the Pyrenees!)

jamalfatty

Dylanwing wrote: »

Jamal - Having seen your last post, I really wonder why you bother ........snip

Your making an awful lot of assumptions about me there. I'm not by any means well off myself after having just finished university and have debts coming out of my ears so I have experienced these 'moving the goalposts' all to frequently myself.
However, I can see it from both sides, yes its very frustrating and annoying when they do things like this but at end of the day it is their money so very little you, me or anyone else can do about it, this always has happened and always will.

And yes, they should show a great deal more thought when making decisions on accounts and notifying people but unfortunately this doesnt always happen.

If people dont want to debate subjects, from all points of view, then why bother posting in first place?

jamalfatty

ontheup wrote: »

As for jamal , i feel that you are just here to make yourself feel good by undermining others , you might have more knowledge in this field than a lot but i feel that you can put that to better use by helping people on here rather than making comments to try to be little people . we are (nearly) all here for the same reason and this site has helped me a great deal and i have a great credit recoerd thanks to this site and users that try to help , so if you do have the knowledge then please try to use it in a positive manner for all not just to makle yourself feel big and clever !!

I've posted some quite lengthy (for me anyway ) replies in this thread based on what I know goes on with how the banks conduct their business, most of it is knowledge gained from being in the industry, the rest is just common-sense.

Hold my hands up to making one derogatory comment about what was a strange and frankly incorrect statement made by someone, but the rest of my posts I stand by, and if you asked anyone else who had/has worked in the industry, they would tell you exactly the same thing.

If anyone wants to know why something is done or where they stand when something happens I will gladly answer it as best I can (assuming I know of course), but I dont think I should be dismissed straight away simply because of who I work for or pointing out facts.

Anyway, after carefully considering Peawacks kind advice, I'm off to Liverpool to watch the Mighty Reds, in the rain it looks like

Dylanwing

Jamal - Apologies if I got you wrong, but these Banks are messing with peoples lives, and with the spread of call centres, if they cause an unexpected problem, you can never speak to anyone who will take responsibility and resolve it quickly. Little Britains 'Computer says no' just sums up the modern Banking industry and why it is held in contempt by the Public. As I have said earlier, if Banks want shot of customers, offer a low-rate loan, be ethical, don't just grab every penny profit.

As for the Mighty Reds, do you remember Brian Tinnion? Anfield 1994, Liverpool 0 Bristol City 1? Had my credit card been cancelled at that point I might not have been there! As I write, it's bad news. My sympathies mate! I know how hard it was losing an LDV final to Mansfield in '86, this must be nearly as bad.

dazed

Dylanwing wrote: »

Oh, and if you wonder about my credit rating, I recently took an unsecured loan with minimum fuss and was told my rating was 'Excellent'. Sainsburys seem to rate me as 'Sub-Human'. You choose!

It's risk and you took out an unsecured loan which would flag up on your credit file. I am not going to ask your credit history here or ask your exposure or potential exposure but they are perfectly in their rights to do this. Your income, exposure and debt will all be factors in this decision.

If you paid off some of your outstanding debt with other companies using this loan then this will appear on your credit file next month.

Unless you post your true debt etc etc etc exposure etc etc etc etc and other debt then you cannot complain at the card company for doing what they have done.

ad44downey

jamalfatty is a credit card company plant doing his or her best to defend the indefensible bank and credit card company sharp practices. He must get a nice bonus at the end of the month for his endeavours.

dazed

ad44downey wrote: »

jamalfatty is a credit card company plant doing his or her best to defend the indefensible bank and credit card company sharp practices. He must get a nice bonus at the end of the month for his endeavours.

or maybe he/she is just trying to help? Look at my sig does your comment mean the same to me also?

student100

Getting away from the bickering towards the original topic - I think the biggest question is, did they tell you they were altering your credit limit? If not, check whether that's allowed in your T&Cs.

For instance, my Egg Money T&Cs say:

[FONT=Arial, Helvetica, sans-serif]We will set and tell you the Credit Limit from time to time. We will carry out appropriate checks before increasing your Credit Limit and we will tell you if we change your Credit Limit.[/FONT]

thumshie

student100 - your comment doesn't mention that they have to tell you in advance that they will change your credit limit. Letter may be in the post/lost/waiting for posting..

So lets look at a possible scenario - Possibly not the OP's but:
Customer is (according to the banks computer) overstretched and relying on credit(multiple credit cards). They receive a letter from provider1 saying 'If you make any substancial payment to your outstanding balance,we're giving you prior notice that we'll drop your credit limit accordingly...' Which card would you make payments to???

P.S. I don't and never have worked for a financial institution -Putting my nomex suit on now....