Halifax logic

lee111s

Took out a card May last year with 16 months 0%... Had a credit limit of 4,000 which I used about 3,000 of to sort out the house I'd just bought. Paid all but £400 off. A few months back I reduced he credit limit to £1000 purely for a phsycological aspect of only having that much credit available.

Tried to increase it to £2500 today as I'm going to do my bathroom out, have £1400 cash (£400 to pay off the card, grand labour for tiler and plumber) however because I've lowered the credit limit in the past 6 months they say it can't be changed. It's nothing to do with affordability...I haven't taken any credit since. They simply won't adjust the credit limit more than once in 6 months regardless if the previous change was and increase or decrease!

Can anyone explain why this would be?


Looks like I'll be looking for another 0% card to take my business too then....Natwest look decent!

zerog

It's a general rule. Natwest will have that rule as well.

Ant.Evs

Yes Pretty much all card providers have similar rules. Natwest also have this rule. Others will alow you to decrease your limit but do not take requests to increase.

Hope this helps

lee111s

Yeah fair enough. It's not something I'd usually be bothered about tbh, would just have saved me getting a different card

SuperAllyB

lee111s wrote: »

Took out a card May last year with 16 months 0%... Had a credit limit of 4,000 which I used about 3,000 of to sort out the house I'd just bought. Paid all but £400 off. A few months back I reduced he credit limit to £1000 purely for a phsycological aspect of only having that much credit available.

Tried to increase it to £2500 today as I'm going to do my bathroom out, have £1400 cash (£400 to pay off the card, grand labour for tiler and plumber) however because I've lowered the credit limit in the past 6 months they say it can't be changed. It's nothing to do with affordability...I haven't taken any credit since. They simply won't adjust the credit limit more than once in 6 months regardless if the previous change was and increase or decrease!

Can anyone explain why this would be?


Looks like I'll be looking for another 0% card to take my business too then....Natwest look decent!

Can't really see how the "psychological aspect" comes into it when you obviously assumed you could have it increased any time you wanted.

Ant.Evs

SuperAllyB wrote: »

Can't really see how the "psychological aspect" comes into it when you obviously assumed you could have it increased any time you wanted.

Because it obviously takes away the temptation to book an all inclusive trip to Las Vegas on impulse... or something similar lol:D

Unhelpful post of the day goes to SuperAllyB :T

opinions4u

Ant.Evs wrote: »

Because it obviously takes away the temptation to book an all inclusive trip to Las Vegas on impulse... or something similar lol

Unhelpful post of the day goes to SuperAllyB

No it doesn't.

YorkshireBoy

SuperAllyB wrote: »

Can't really see how the "psychological aspect" comes into it when you obviously assumed you could have it increased any time you wanted.

This "psychological aspect" can be used by Halifax too, ie they may say to themselves...if the cardholder possibly doesn't trust himself, then we're also taking a cautious approach?


I've never understood this willpower thing...do the same people buy their shopping daily, rather than once a week on a Friday evening, for fear of pigging out over the weekend and having nothing left for the week ahead? No, I thought not!

lee111s

Just what I wanted to do, never mind, accepted for a Natwest card so all is good

SuperAllyB

Ant.Evs wrote: »

Because it obviously takes away the temptation to book an all inclusive trip to Las Vegas on impulse... or something similar lol:D

Unhelpful post of the day goes to SuperAllyB :T

Neither more nor less helpful than yours!

My post was merely a personal observation on the OP's logic, which I find harder to follow than Halifax's logic which was originally questioned.