Massive reduction in Barclaycard limit

ilikewatch2

I know that in the current climate banks are probably trying to reduce their exposure, but this probably ranks as the most extreme credit limit reduction I've ever experienced - especially when I was notified 3 days after it was applied!

Ebe_Scrooge

Was this an email you received ?  The tone of it and the grammar doesn't seem *quite* right - if it's asking you to click on a link to reinstate your limit or something like that, I'd be very wary.  There's an awful lot of spam and phishing attacks going round since the start of Covid-19.

cymruchris

Possibly as you've not used the card in a very long time?

ilikewatch2

Ebe_Scrooge said:

Was this an email you received ?  The tone of it and the grammar doesn't seem *quite* right - if it's asking you to click on a link to reinstate your limit or something like that, I'd be very wary.  There's an awful lot of spam and phishing attacks going round since the start of Covid-19.

It's all legit - email accompanied by a text, with the new limit already showing in the app for me (the email also contained the last 4 digits of my 16 digit card number etc.) But I cropped these out of the screenshot I posted.

ilikewatch2

cymruchris said:

Possibly as you've not used the card in a very long time?

I've not used it much in the past couple of months, but it was in regular use before April.

mr_stripey

That's pretty extreme! Good job you weren't planing a big purchase!

ilikewatch2

As it happens, I was planning a big purchase but am in the nice position of having other options available, so it won't affect me too much.

jjames1985

They just don't want you as a customer anymore, probably because you're not profitable.  Don't take it personally.

ilikewatch2

No, I'm not upset about it - business is business! Just need to figure out whether to close it, or keep it (it's the longest running account I have).

jjames1985

ilikewatch2 said:

No, I'm not upset about it - business is business! Just need to figure out whether to close it, or keep it (it's the longest running account I have).

I'd close it.  Low credit limits don't look good.

Malkytheheed

jjames1985 said:

ilikewatch2 said:

No, I'm not upset about it - business is business! Just need to figure out whether to close it, or keep it (it's the longest running account I have).

I'd close it.  Low credit limits don't look good.

They don't look bad either.