Barclaycard credit limit moved down!

bowlingo

Hi all,

Earlier i went to buy something on Ebay and my Barclaycard simplicity card was declined as of Paypal........

I logged into the online banking and it said the card was -£547.00 (over the limit)

This card had a limit of £3900.00 and has done for a couple of years and its got a 6.8% fixed interest on it so I use it as a sort of a loan.....

I am paying it off at £200.00 a month

So basically as of the start of August they decided to move the limit to £2900.00 and push me into the red by £547.00 as the balance is at £3447.00

They also gave me a £12.00 over limit charge!

I have another Barclaycard that I havent touched and that limit it still at £5000.00 as it allways has been..........

Why havent they decided to change the limit on my other cards and cut this one..I thought it was an overall credit thing if they decide to change it?

I am 38 years old and Never defaulted on anything..does this now mean theres a mark against my name?

If I now pay them £548.00 tomorrow to take me under my new £2900 limit they will more than likely move it down by another £1000!

I tried phoning them earlier but couldnt understand a word of what the chap was saying so will hopefully be able to get hold of there UK call centre tomorrow....

Any advice greatly apreciated to the above

Thanks

jonesMUFCforever

IMO they have made a mistake - I am sure they meant to reduce the card you do not use.
Phone them up be polite - ask what is going on and see what they say.

Maestro.

I think you might have misunderstood. It doesn't sound like they've moved your limit down below the balance, rather moved the limit down and you have then performed a transaction which has taken you overlimit. There's probably a letter in the post on its way to you informing you that they've done it.

I suspect the reason they've done it is they're sick of you holding a balance on the card and are chipping away at it as you pay the balance off, and it may well end up at a limit of £500 or however low they normally go (it might be £250 for barclaycard).

bowlingo

Can anyone help me by telling me hoe I can check my credit file? Years ago you had to send £1 to Equifax and Experium I believe?

bowlingo

Maestro. wrote: »

I think you might have misunderstood. It doesn't sound like they've moved your limit down below the balance, rather moved the limit down and you have then performed a transaction which has taken you overlimit. There's probably a letter in the post on its way to you informing you that they've done it.

I suspect the reason they've done it is they're sick of you holding a balance on the card and are chipping away at it as you pay the balance off, and it may well end up at a limit of £500 or however low they normally go (it might be £250 for barclaycard).

I didnt make any transactions in the last few weeks that have pushed me over the aparent £2900.......

bowlingo

Would this mark my credit file?

Maestro.

bowlingo wrote: »

I didnt make any transactions in the last few weeks that have pushed me over the aparent £2900.......

this part of your post suggests you have?!

bowlingo wrote: »

Earlier i went to buy something on Ebay and my Barclaycard simplicity card was declined as of Paypal........

bowlingo

Maestro. wrote: »

this part of your post suggests you have?!

The balance of my July statement was £3323.70p

bowlingo

Just phoned them 3 times...hung up every time I got someone in Calcutta...then I asked to be put through to the UK call centre....

Very helpfull as they instantly increased my limit from 2900 to 4900 although I told them I dont want the 4900 just the original 3900 would of done me fine......

fozmcfc

Limits can be decreased at any time and can be done without notice.

However, they should not be put under the current balance or just over the current balance, so that when interest is charged at the end of the month, you exceed the new limit.

I would be confirming, they will remove the £12 charge and also making sure you have no black mark on your credit status.

I don't like the compensation culture, but I daresay if you can be bothered, a written complaint, could well see you getting a gesture of goodwill, they seem quite often to offer £50 to people.

bowlingo

fozmcfc wrote: »

Limits can be decreased at any time and can be done without notice.

However, they should not be put under the current balance or just over the current balance, so that when interest is charged at the end of the month, you exceed the new limit.

I would be confirming, they will remove the £12 charge and also making sure you have no black mark on your credit status.

I don't like the compensation culture, but I daresay if you can be bothered, a written complaint, could well see you getting a gesture of goodwill, they seem quite often to offer £50 to people.

They said they would remove the £12.00 charge and told me it wont effect my perfect credit rating...

However I bet it will say my limit on that card and the balance also on my credit rating of which people could see as over the limit for a period of time maybe.....