Hoodwinked By Mbna?

Dylanwing

Totally agree about the random limit shifting going on, from earler threads you are not the first to be caught like this, and won't be the last. I think some people are missing the point, as people do order goods ahead of paying, and naturally assume the limit will remain - If you don't have this certainty, the whole point of a credit card is lost!
Mine has been a running joke, continually decreasing and I only find out if it gets rejected.... As it did tonight. BTW, for regular readers of my jolly japers with Sainsburys, I got £125 charges back (That'll learn 'em!), quickly filled my car with fuel and got some food (Tight Month!) before the inevitable revenge, but it looks like they have caught up with me. Well, a £200 limit is a bit high!

jamalfatty

I think the point is that credit is not a given, it can and will be taken away just as easily as it is given. If you absolutely have to commit to something financially, save up for it - if you rely on other peoples money then you are leaving yourself open for problems like this.

iceicebaby

jamalfatty wrote: »

I think the point is that credit is not a given, it can and will be taken away just as easily as it is given. If you absolutely have to commit to something financially, save up for it - if you rely on other peoples money then you are leaving yourself open for problems like this.

Cannot agree more

GunJack

Just a quick note....

I reported a month or so ago that despite not having used my MBNA card for a good while, AND being £9-odd in CREDIT, they suddenly more than doubled my credit limit to over £9k !!

I also got the xmas card saying what a good customer I was and would I like to transfer most of my over £9k limit into my current acct. for Xmas ?!?!?!?!?!

I now wait with baited breath to se if my limit now magically reduces in the near future.........

Dylanwing

I think the point is that credit is not a given, it can and will be taken away just as easily as it is given. If you absolutely have to commit to something financially, save up for it - if you rely on other peoples money then you are leaving yourself open for problems like this.

Totally disagree (No shock there!). A credit card with a randomly reducing limit is as much use as a chocolate teapot. The credit card is a revolving credit facility, and if used properly, is to see you through the bad Months, or spread the cost of a larger/ emergency purchase. As with OP, you can commit to a purchase in good faith, then find the funding withdrawn, leaving you liable for payment. If the Jamal theory is right, why are Banks advertising credit cards so enthusiastically? And if anybody can explain the point in reducing a card limit from £200 to £170 please let me know!