Credit Card Account Closed

Cambridgegirl

My husband recently terminated a car loan (PCP?) and returned the car to the finance company, he had paid the minimum 50% of the loan and was advised that he was within his rights to do this. He was also advised that this would not affect his credit rating although the finance company did say they would put a flag on his credit rating.

He has 2 credit cards with Halifax, one which has not been used for a long time and one which was a 0% balance transfer card which is almost paid off. He has received a letter from Halifax saying that they have reviewed his credit rating and reduced his card limit to £500 and closed his account (this seems somewhat contradictory to me), however this is for the card he does not use not the one which has a balance on it.

He is now wondering if the termination of the car finance has in fact had an affect on his credit rating, can anyone advise if this might be the case.

CLAPTON

why not get copies of his credit files and see what it says there