Halifax limit reduced

starM

Hi,

I just received notification that my Halifax credit card limit has been reduced from 2k to £75.

I know the reason behind it. I have been doing housework and increased my Barclatcard limit from 6k to 10k Also received notification from MBNA that they have increased my limit. At the time same I have taken a new card with Nationwide.

Nationwide has gave me 0% overdraft so that is also in use So to be honest I dont disagree with there decision. It is aHaludax clarity card so I only kept it for overseas use

Wondering I should keep it which I am sure Halifax likely to increase credit again in the future or close down? Just thinking it will look bad credit report showing a lower limit of 75.

Thanks

[Deleted User]

Ask them to increase it first. See what you get.

[Deleted User]

£75 - are you sure!?

starM

Yes basically it means we dont want you. Wonder why they didn't just close the account. I will call them later

SnowTiger

!!! wrote: »

£75 - are you sure!?

My father died about two and a half years ago.

I didn't realise his Lloyds credit card account was still active.

My mother opened a letter addressed to him a few days ago which said his limit was being reduced to £75.

I guess Lloyds Banking Group is doing a purge of unused and unwanted (by them) accounts.

LuSiVe

Yeah, I've just got a similar text from Lloyds. I've not used the card for years - I only took it out to get a meerkat - and I'd rather they just closed it.....

Edit: a meerkat toy from compare the market. Not an actual meerkat. I don't think you can buy them with a credit card and I'm pretty sure you need to buy a whole load of them, not just one....

[Deleted User]

I think they don't want the "bad publicity" of saying bye bye, we don't want you. They'd prefer you to throw your toys out the pram and say £75 is ridiculous, I'm off.

NewDay have axed quite a few limits recently - I know friends impacted too. Mine went from £2,000 to £400. The reason on my DSAR is shown as "adverse" - but it's the same adverse as when I took the card 3 years ago!

I read somewhere NewDay use Halifax credit scoring systems too?? Not sure if it's part of a overall trend to give stupidy low limits?! (/"exposure reduction")

I think my massive cut was a way of saying "kindly shove off" rather than actually closing the account (as they are fully entitled to do) and getting adverse publicity out of it.

18cc

i wonder if using it for up to £75 worth of purchases each month and paying off in full would cost them money? certainly not much profit! keep doing it each month !

A4445

My Everyday card from Creation was cut recently from 10k to 7k and partner has the same card this was dropped from 5k to 3k.

LuSiVe

I've had the follow-up letter from Lloyds now saying the card will be closed in 60 days and I'm not allowed to spend any more on it from 30 days from now.

starM

I haven't received a letter from Halifax as yet. Will see if anything arrives tomorrow.

I will update here.