Can they do this?

CrunchThisDebt

Each month I pay Halifax CC then request to have the amount lowered, normally this is fine. However this month, I payed the minimum payment (all I can afford at the moment). Requested to have my limit lowered which takes a couple of days. (I’m guessing somebody has to check this)? My request was approved but then two days later they charged me interest that put me over my credit limit. Meaning I got charged for being over my CC limit but going back five days ago if they didn’t approve my new lowered limit I wouldn’t have been over my CC limit. Are they allowed to do this? 

Penelopa.Pitstop

You requested lower limit, so you can't complain that now after interest you went over it. It was your request and they did want you wanted.

Shakin_Steve

Seems like a convoluted way to run your credit card. Why have the limit lowered? Just trust yourself to spend less on it. 
And, remember, your account is run by a computer running an algorithm, not by a human sitting at a computer. Go over limit, you will be charged.

stehouk

You might be better cutting the card up and leaving the limit the same until payed off.

maxximus75

Lowering your credit limit each month looks historically terrible on a credit report.

It can look like your credit provider is  "chasing the balance".  Lowering your limit to stop you spening any further.

Not a good impression for future creditors?

Malkytheheed

Why would you ever lower your credit limit? If you can't trust yourself with a limit then you shouldn't have a credit card. End of. 

SandyShores

Always worth giving them a call and asking them to reverse the charge.  In respect of card limits, I have read somewhere that lenders look at the amount of credit you have available against how much of it you have actually used.  So if you are constantly using almost 100% of your limit it doesn't look good.

D3xt3r5L4b

SandyShores said:

Always worth giving them a call and asking them to reverse the charge.  In respect of card limits, I have read somewhere that lenders look at the amount of credit you have available against how much of it you have actually used.  So if you are constantly using almost 100% of your limit it doesn't look good.

This thread is from 10 months ago...