Natwest want to reduce credit limit on credit card. How easy is it to keep old limit?

Lost_in_La_Mancha

I have a natwest credit card and have just received an email from them saying that they want to reduce my credit limit by almost half as I am not spending as much on the card as I used to.  I have a few weeks to request that the credit limit remains the same. It's true that I don't spend a lot on it but occasionally I do need a large limit if doing a long trip, hiring cars and staying in lots of hotels etc. So I would like to keep the limit as it is.

Has anyone else had their limit reduced by Natwest and was it fairly straightforward to keep the old limit if necessary? Will they likely try and reduce it again later on even if I manage to keep the limit as it is for now?

Hope someone can help. Thanks. 

george9071

If you do manage to keep the limit you currently have and in a few months time you haven't made any large purchases then it's most likely the limit will end up being lowered.

bonkersbonkers1

Phone them and ask -explain your rationale for wanting to keep existing limit.
They can only say no - if they do that is there anything stopping you applying for a new card with a different provider?

Sandtree

The decision is purely theirs and so in theory the "how easy" answer is its fairly hard. In reality if you're a good payer and there is nothing on your credit file to suggest a deterioration on your circumstances then many providers will agree to letting you retain your current limit unless they themselves either have issues or are pursuing a different strategy.

pdel61

Like a lot of questions on here, it is best resolved by speaking to the bank and asking.

Lost_in_La_Mancha

Thanks for all the replies.

From what I can gather from the email they sent me, I can automatically opt out of having the credit limit reduced for the moment. However, as one of the replies here says, I imagine they will keep on trying to reduce my limit if I don't start spending more on it. I am currently earning very little, living off savings mainly, so might be difficult to get another credit card at the moment. And also am concerned that not earning much could make it difficult for me to keep the higher limit if I get into discussions with them about it.

Not sure if having savings in the bank can be used to get a good credit limit instead of earnings. 

jefaz07

For now, could you do all your spending on the card and pay it off fully every month with your savings? 

Lost_in_La_Mancha

Yes, I try to do that as much as possible. But living very frugally at the moment so still not much. 

Malkytheheed

Just call them and tell them "I recived your offer of a lower credit limit. I have been spending less because of Covid and plan to make some big purchases in the near future. Thank you for the offer of a lower limit but I would like my limit to remain the same."