Halifax reduces credit limit - can't figure out why!

frank777

Halifax sent you a letter with your new Credit Limit

We need to be careful - reduction of Credit Limit = reduction of stoozing pot example

£5,000 - 95% = £4,750
£4,700 - 95% = £4,465

Just be careful you don't end up over LIMIT and incur charges and lose the 0% deal, always pay of any overspend not just the minimum payment

foxy-stoat

Had this with my Halifax card a year ago, called them up and complained and they increased it again.

redux

I had a similar Halifax letter about an overdraft. They proposed to reduce it from £2100 to £600.

I hadn't used it for a year, except about a quid for 4 days by not paying attention, so it might not have mattered to me anyway.

But I phoned up and had a chat, and we settled on £2000 from now on. The application may or may not involve a credit search, I was told, but in the end it wasn't needed.

For your £2500 to £2400, it seems hardly worth ringing up to talk about, except maybe to understand the prospects and likely conditions of them doing it again in a few months time.