Reduction of CC limit (I think)

exponential

Hi guys.

I have recently received a letter from BOS and a few months back, Lloyds about a reduction in my credit limit.
Both letters were identical and stated that "after careful consideration" my limit will be reduced to £xxxx.xx

Funny thing is, the new reduced limit is basically the limit I originally had from the start.
I'm using these cards as balance transfer cards with plenty of time left on the 0% period.
What does this mean? Is it a sign that their computers are seeing me as a poor customer?
Have never missed a payment and pay a good few quid over the minimum each month.

Should I ignore it..

Any thoughts guys?

[Deleted User]

Ignore it. They may be reducing unused limits.

exponential

Thanks zx. Got a bit concerned at first to be honest.

Cheers. :-)

Thrugelmir

exponential wrote: »

Hi guys.

I have recently received a letter from BOS and a few months back, Lloyds about a reduction in my credit limit.

Same banking group. More than likely now looking at total exposure that they have with individual customers. Where possible starting to reign it in.

exponential

Thanks thrugelmir.

Makes sense really when you think about it....

Doctor_Duke

That's typical of the Lloyds Banking Group, Halifax, Lloyds etc. They seem to move your limits up and down frequently. Once Halifax slashed my limit from £11,000 to £500 because I made one cash withdrawal. Had the account for years and never missed a payment and always remained within my limit. I now wouldn't be surprised whatever they do!

Ben8282

Doctor_Duke wrote: »

Once Halifax slashed my limit from £11,000 to £500 because I made one cash withdrawal. Had the account for years and never missed a payment and always remained within my limit.

Unlikely that was the sole reason

Doctor_Duke

Actually it was as they told me and I was furious at the time. I had no adverse credit at all and never had. Even now my Halifax credit limit changes a bit! Btw that's now an £8k limit on a newish card. I closed the old card with the slashed limit ages ago. So your comment is just a tad judgmental!