Limit cut to below balance

Herbalus

Balance transferred some money to 0% card from Halifax two months ago. DD set up so minimum repaid each month, and no additional transactions made, just the one balance transfer.

Halifax have now sent a letter saying that they're reduced the credit limit to an amount below the current balance. Odd.

Is this going to cause overlimit fees? And will the 0% period end because the balance is now over the limit?

grumbler

Indeed odd. Call them instead of guessing.

bigadaj

Herbalus wrote: »

Balance transferred some money to 0% card from Halifax two months ago. DD set up so minimum repaid each month, and no additional transactions made, just the one balance transfer.

Halifax have now sent a letter saying that they're reduced the credit limit to an amount below the current balance. Odd.

Is this going to cause overlimit fees? And will the 0% period end because the balance is now over the limit?

Speak to them but I would rapidly escalate this to a formal complaint if they don't back down.

This is poor practice and would be frowned upon by the regulator, who would be charging them some money if you escalated your complaint.

Herbalus

I will check with my friend, whose card this actually is.

(didn't want to start another thread with "so my friend....").

I was just curious if other people had these experiences, and I'm generally the person he thinks will probably know these things.

chanz4

Halifax seem to be cutting a lot of peoples card that don't earn them money

bengal-stripe

Herbalus wrote: »

I will check with my friend, whose card this actually is.

I was just curious if other people had these experiences

There is another thread with the very same story; but then it might be your friend.

https://forums.moneysavingexpert.com/discussion/5466986