unexpected limit decrease...

belfast_child

knowledgeman i think you need to take a chill pill.




i had my limit reduced on my mbna card reduced from £3500 to £900. my outstanding balance was £212. I phoned them up to query it and informed them i would be clearing the balance and closing the card as a credit limit of £900 is useless. they asked a few questions re salary and outstanding committments and reinstated the limit to £2750. however i have cleared my balance and am closing account anyway. :beer: :beer:

inmypocketnottheirs

In the case of Barclays it is more about the risk they are exposed to because of their involvement in the sub prime US markets, and the fact they are having to borrow heavily from the BOE. And they lecture us on irresponsible lending!

Thanks dylanwing for the heads up on Knowledgeman. I did not know he worked for a bank, but it is obvious in his posts. He is probably referring to a manual now before his next post!!!

Treadmill

I cleared my balance on my barclaycard by transferring the balance to a new card and they reduced my limit from £3000 to £520, maybe they only gave me the £3000 limit on the basis thats thats what I could afford to borrow and when I opened another credit card account they reduced the overall borrowing capacity accordingly. Fair Enough. To be honest if I maxed out both at £3000 I'd be in a hole.

Dylanwing

Have you closed your Sainsbury card down yet btw?

I paid it off, but needed to use it again for train tickets and daughters BD present in advance of a bonus. That earned me a reduction from a humungous £450 to a generous £200. I know it will cost me a pound or two, but I have not paid it off, just to see if it reduces again, and if they really would give me a limit of £100 or less.:D Yes, I know I'm being childish:rolleyes:
I am thinking of applying for Aqua, as I really just need a CC for hotels abroad and the odd curry before pay day:eek: . The only thing is that is also run by HBOS (Sainsburys hosts), and last years Vanquis decline un-nerves me a bit!

The point on the 0% was just for comparison, on one hand they preach 'responsible lending', and on the other they are offering a facility that if misused, or if they jack up interest rates, could prove irresponsible. But not as irresponsible as taking on cleverly disguised rubbish debt! They obviously failed to read the small print and T&C's!:rotfl:

youknowwho

Dylanwing wrote: »

I paid it off, but needed to use it again for train tickets and daughters BD present in advance of a bonus. That earned me a reduction from a humungous £450 to a generous £200. I know it will cost me a pound or two, but I have not paid it off, just to see if it reduces again, and if they really would give me a limit of £100 or less.:D Yes, I know I'm being childish:rolleyes:
I am thinking of applying for Aqua, as I really just need a CC for hotels abroad and the odd curry before pay day:eek: . The only thing is that is also run by HBOS (Sainsburys hosts), and last years Vanquis decline un-nerves me a bit!

The point on the 0% was just for comparison, on one hand they preach 'responsible lending', and on the other they are offering a facility that if misused, or if they jack up interest rates, could prove irresponsible. But not as irresponsible as taking on cleverly disguised rubbish debt! They obviously failed to read the small print and T&C's!:rotfl:

I reckon they will go to one hundred. I know someone who has the same issue with sainsburys, and theirs went to 100! Now dont be spending all of that available credit Dylan!! Y get an aqua card thou? I thought that was only for ppl with really bad ratings and its to help them add a bit of good rating to their C file. I think the max limit on those is like 500 quid! Maybe just try a different lender all together, Nationwide could be handy for those tripsa broad?

Dylanwing

In that case I had better try for £50 - That really would be an achievement. :beer: As for Aqua, my credit rating is odd. Vanquis decline me, but not that long after Lloyds Black Horse describe me as top rate and offer me a loan of anything up to £15K. Sainsburys don't rate me, and to test the water I tried the PO and was declined. So my rating is somewhere between perfect and sub-Vanquis! Work that one out.
To be honest, a £500 limit would be fine, it's better than £200 and I only use cheap hotels in Eastern Europe - I have a Nationwide debit card for cash abroad.
One day I might even get the charges info. from Sainsburys as I think I have had a few fees above £12 that I can re-claim - It's been nearly 2 Months now, so I'm just chasing the naughty little tinkers.

youknowwho

Very odd credit rating indeed. With The vanquish situation i think you have to be realllly bad to get one, so your rating is not bad enough to have a Vanquish but then not good enough to have a normal one... if you get me? Another odd one is i thought that Sainsbury's (and also other HBOS cards) are quite tough on who they give cards to. Have you tried Marks and SParks?And if Lloyds are offering you that then maybe get their card. I have evrything with Lloyds and i feel like they look after you if your a good cusotmer. just a thought.