Warning - they are slashing our credit limits

dmg24

So they made a mistake by not sending out a letter. They have apologised for this by waiving the charge. Can't see the problem?!!

It also says about bank charges apply for being overdrawn - they aren't legal either!

Not true.

It seems that your complaint has been resolved. What do you want them to do now?

NOZ_3

Knowledgment - less of the insults. Why am I a tit? How is my post any different to the other 'tits' on this forum? Are you really that intollerant to someone who may have a different opinion to you? Whatever, that's your problem. I was willing to ask for your advice and I'm willing to listen to constructive comments.

Banks aren't charities but we do pay alot of money in charges, interest etc which they earn from us. They are a business, we are their customers and as such we have certain expectations of levels of customer service. Halifax are usually good in keeping their customers informed. Usually, the letter would have been here the day after. Yes they apologised after I had to phone to find out after they got a debt collection department to phone me. How would any of you be happy with that? Martin says to keep on challenging levels of customer service and unfair charges.... I did.

My limit was upped monthly from £800 to £7750 because I paid them weekly. How is this in line with any responsible banking?! If I was a tit, i would have maxed the card out and got myself up to my neck in debt. I take the comment on not pre warning customers of the decision but that is not the case here. They reviewed their customers needs (as all businesses should do) and found that they had messed up. The PM has just given the banks a flea in the ear for not taking into account each customers ability to repay credit. Hense the Amercian market almost crashing and the ripple effect it had here in the Uk (Northern Rock). With debt the way it is in this country, the banks are now being made accountable for not giving money to people who can never repay it. hense the review.

They are all being made accountable for past actions - look at mis-selling insurance with your credit card/mortgage etc.. a hot topic on these boards. So does that mean that by default - we are all tits?

m00m00

Halifax have cut my limit twice in the past 6 months, both times the cut was active at least 2 weeks before they sent me a letter telling me so. At Neither point did the cuts take me overdrawn, but they did take me to within 50 of the spent amount on the card, so there was no real further spending available on it.

dmg24

I'm still not seeing why you still feel so aggrieved?

NOZ_3

Ok thanks for your unconstructive comments, but all I was trying to do was to highlight an issue that I have never come across before.

Next time I wont bother so !!!!!!!! to you!

dmg24

I don't think that the comments are unconstructive.

As knowledgeman has stated, a bank is not a charity, and can adjust your lending facility as it wishes. It can even take it away altogether should it so wish.

lynzpower

My understanding is that the lender has to give 14 days written notice to reduce credit limits. The FSA told me thats the case.

OP Id ring the FSA on monday and double check it with them and put in an official complaint if it IS true.

vwman_3

!!!!!!? wrote: »

I don't think he can tell you anything that'll give you a sense of humour.

Oh I dont know, he made me laugh as did your good self

Gorgeous_George

I think the OP has been treated badly by fellow MSEers. Be nice - it don't cost nuffin.

GG

VenuS

I agree with the above poster. Not much need to get into an arguement and be damn right rude to people who wish to post on this forum.

Constructive responses and less of the name calling.