HSBC Gold Card - Limit Cut !!

Lilaclily_2

I just thought I would share this with you all....................

I have a HSBC Gold Card with a limit of £9300, I haven't used this card for about a year, although I have had this card for many years and been a customer of HSBC for 25 years.

Today I receive a letter telling me my limit has been cut from £9300 to £3000 as there has been no activity on my card !!!!

If I wish to use the card more regulary then I can ask for a review, but doing what they have done seems it will stop the risk of fraud ?

So my personal financial options have been decided for me, so I have told HSBC I no longer require their card.

Has this happened to anyone else ?

Lilaclily_2

I understand all of that, but if you don't use it one month and then you do and then you don't what are you supposed to do ?

Should it now be that if we don't use a facility for 3 months then it is cancelled ? If I owed money they would be encouraging me to spend more, but the option to spend has now gone.

If one has been careful and created a decent credit rating then why should you be penalised.

Lilaclily_2

At this point it was a year, a year ago it was heavily used and cleared.

I don't live on plastic, I use them clear them immediately and use again. I don't shop daily but I had the card through choice, my choice.

It seems to me that credit card companies now only accepting people who are in debt and staying in debt longterm. The choice to be sensbile and logical is no longer accepted.

Dylanwing

There are a couple of recent posts re random limit cuts. Not quite sure if it is to reduce exposure, reduce fraud risk, or just p off their customers. It certainly seems to be doing the latter! And at least they told you.........