Co-op credit card limit cut without warning

auntymabel

Beware if you have a Co-op credit card. My credit limit was cut without warning from £4,800 to £800 (exactly the amount of spend on the card). I didn`t know until I phoned up to find out why my card had been declined. They said they had sent a letter on 18th July but as I pointed out this is not much good when they cut the limit on 19th. I was told they are looking at all their customers cc accounts to see if they need to cut their limit so if you have a Co-op card I should check your limit before you try to spend on it.
Incidently, I have had this card for about 10 years with no problems.:mad:

TAG

It's been happening alot with numerous cards.

We've had 3 reductions on 2 different card this year alone. Yet we've never ever missed or had a late payment on anything.

YorkshireBoy

auntymabel wrote: »

I was told they are looking at all their customers cc accounts to see if they need to cut their limit

Very true. They cut mine by £13K recently. :eek:

Dylanwing

My favourite subject! Random cuts are the order of the day on credit cards at the moment. As a limit of £450 is useless on my Sainsburys account, I have paid most of mine off, so I am now waiting to see if they cut it to £50.... Or maybe even £10!!!!

youknowwho

Dylanwing wrote: »

My favourite subject! Random cuts are the order of the day on credit cards at the moment. As a limit of £450 is useless on my Sainsburys account, I have paid most of mine off, so I am now waiting to see if they cut it to £50.... Or maybe even £10!!!!

Dylanwig, i luaghed when isaw your name on the end of this threasd, i agree indeed, your fav subject! lol. You will have to remeber to let us know what sainsburys retention team have to say to you when you close the account. what will their tool be to retain?

Dylanwing

When my account is closed I think it will be party time in Halifax and Dunfermline:beer: . I should try and keep the account open though as it can be useful for booking hotels abroad, but somehow, with a complaint at the Ombudsman and a charges reclaim in progress, I suspect I will soon be an ex-customer! I doubt that the retention team will make any effort at all to retain my business:rotfl:

And I am leaving a small balance on the account purely to see if I do get dropped to a really silly limit!:p

ajaxgeezer

Dylanwing wrote: »

When my account is closed I think it will be party time in Halifax and Dunfermline:beer: . I should try and keep the account open though as it can be useful for booking hotels abroad, but somehow, with a complaint at the Ombudsman and a charges reclaim in progress, I suspect I will soon be an ex-customer! I doubt that the retention team will make any effort at all to retain my business:rotfl:

And I am leaving a small balance on the account purely to see if I do get dropped to a really silly limit!:p

... lol. Even I recognise Dylanwing's nick on this subject, and I don't have an interest in it other than casual reading. Don't cut off your nose to spite your face by leaving a small balance, mate..... unnecessary interest(?) is just that, no matter what the curiosity factor.

MABLE

After reading this thread I checked my Co op Plat card on line and the credit limit has not changed. Its still at £15,000 and I have held this account for about 12 years. The last time I used it was about 3 years ago.

Dylanwing

I'm only planning to pay about 10p/ 15p a Month, surely it's worth that just to see what happens? Also, I don't want to give the b***ards the pleasure of closing my account and telling me to FO. I am sure that the Dylanwing credit card issue is the main stumbling block in the £10.3 Bn takeover of Sainsburys. Wow, Sainsburys has a plain vanilla equity of 'just £3.1Bn', amazing what you can learn whilst posting on here! What is the value of their strawberry and chocolate equities??

manningtreelove

auntymabel wrote: »

Beware if you have a Co-op credit card. My credit limit was cut without warning from £4,800 to £800 (exactly the amount of spend on the card). I didn`t know until I phoned up to find out why my card had been declined. They said they had sent a letter on 18th July but as I pointed out this is not much good when they cut the limit on 19th. I was told they are looking at all their customers cc accounts to see if they need to cut their limit so if you have a Co-op card I should check your limit before you try to spend on it.
Incidently, I have had this card for about 10 years with no problems.:mad:

i have had the same problem with my allianse and leister platinam card i cleared a thousand so i could put a telly on it wich was on one of them pay nothing for a year and a day and a week before i went to pay for telly the barsterds cut my credit limit bye a thousand they phoned up out of the blue asked me how much mony i earned then cut it i was so angry i have been a really good customer never missed a payment sharly this is ilegal how can i trust my card again whatshould i do

ad44downey

Barclaycard increased my credit limit by £250 only last week without me asking, very strange.