Credit reduced after BT ...not happy

fudgeypants

recently transfered half a cards balance of 3000 to a 0% card...thought it was a good thing to do..
now the original card lenders have reduced the credit by 3000 when we were about to use this to transfer other cards to this.

We have called them and they have informed us that they were instructed by experian to do this...on the same day we had a letter to say the limit had gone up on the original card that we had transfered from..

what can we do now as we have not received a letter or anything to let us know about this, we noticed on the account online.

nickmack

fudgeypants wrote: »

We have called them and they have informed us that they were instructed by experian to do this...on the same day we had a letter to say the limit had gone up on the original card that we had transfered from..

Many lenders are tightening their criteria and reassessing credit limits. Experian wouldn't have 'instructed' them to do this, but the lender probably used information held with Experian and possibly determined you are a higher risk based on new lending criteria.