Help with Barclaycard.

lilmoi1985lm

Ok here goes. maybe ive left this a little late to do anything i dont know. Barclaycard originally had limit of £2000 which was up to limit. I paid of minimum payments at this point as couldnt afford anymore per month. OH had bonus at work and gave me £500 to pay of card to get monthly repayments down. Following week I received a letter informaing me that my credit limt had been dropped to £1500 and that I could not use the card for cash withdrawls for 6 months:eek: . I've wrote and complianed that I never once missed a repayment and never went over credit limit and this was unfair how they have responded. Surely paying of a large sum would have the opposite effect?? I havent received any replies to this (sent letter about a month ago) and am pretty hacked off about it as we could have used the money for other things. I suppose in a way its good as I cant spend what i dont have and my cc will be paid off quicker but is this sort of thing usual?

LittleVoice

lilmoi1985lm wrote: »

I suppose in a way its good as I cant spend what i dont have and my cc will be paid off quicker but is this sort of thing usual?

Exactly so.

I think it is fairly common - and not just Barclaycard.

nikki&asha

Barclaycard did this to me in July, dropping my limit from £2000 to just £700 (balance was about 695!). they had only increased my limit from 1150 to 2000 in may! I rang them and asked what was going on and was told it was all to do with responsible lending and they were reviewing all accounts every 6 months. In your case i expect they have seen the balance reducing as a good chance to reduce your limit which they probally wanted to do any way. I have never missed or been late in payments either so have no idea how these 'reviews' work!
nikki

Dylanwing

Check out my thread about 'Beware, your credit limit may suddenly reduce', some good stuff and irrational rants there - Sainsburys have hit me from £5,850 to £200 in about 6 Months! If you write to the Company or talk to them on the phone they just fob you off with BS - In most cases, it seems that they do not want your custom, and whilst someone else may know differently, it seems that once they start reducing, the limit drops each time you pay in, and on renewal, a new card is not sent.

lilmoi1985lm

im just worried about paying more of its going to drop again, well least i cant spend more on it i suppose.

Thanks everyone x

wannabedebtfree_2

This has happened to me!!

One of my OD has been reduced to £500 from £750 with a few days warning, and one of my CC has dropped from £3000 to £500 - without even letting me know what date it would be done by! I had just transferred the balance from the CC to another cos the rate had shot up, so I think they were cheesed off!!

Its a pain though and now I panic that my other cards will do it too, if they do I will be forced into bankrupcy or a IVA..........

lilmoi1985lm

i had no warning and their letters always arives weeks after the date stated on them. I'm just glad i didnt try to use my card in this time or would have been totally snubbed. It really isnt a fair thing to do.