Massive reduction in Barclaycard limit

jjames1985

Malkytheheed said:

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. 

They show that lenders don't trust you with a lot of money, that's pretty bad.

cymruchris

Have you thought of sending them a secure message through a web browser to say you’re planning a big purchase soon, and it’d be useful to retain your limit just to see what the response is? If you don't ask you don’t get. If it’s an old account and you’ve never caused them an issue - they might reconsider. 

ilikewatch2

That's a decent suggestion thanks,  I might just do that. 

ict_guy

I recently had a letter and a text message from Barclaycard saying the would be closing my card account (haven’t used it in literally years) on xxxxx (about a month away) due to inactivity. They gave an option to either use the card or text them with ‘keep’ (or something like that) to a number. I did the latter and kept the card (£15,000 limit).....never know when I may need it. I think, in the current climate, lenders are auditing all their accounts and cutting lending where they can....not sure why I got a choice to keep the card though 🤷‍♂️

Emily_Joy

Is it possible to apply for a limit increase?

D3xt3r5L4b

They’re just analysing risk and making cuts on the instruction of their board most likely 

LordSomebody

They cut my limit from £12,300 to £3,500 and only told me after it had happened. At least £3,500 is usable though. £300, not so much.

Jrchmn

I recently had to contact barclay card this week. It was imposible on the phone but I had a responce within a few hours of using the secure message service. It's a matter of minutes to request a limit increase that way. £3500 is their limit for new customers so maybe that's a good figure to request.

J_B

jjames1985 said:

Malkytheheed said:

jjames1985 said:

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

They don't look bad either. 

They show that lenders don't trust you with a lot of money, that's pretty bad.

So how do they view me .... 17k on Amex and £100 on Barclaycard .... 🤔

Malkytheheed

J_B said:

jjames1985 said:

Malkytheheed said:

jjames1985 said:

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

They don't look bad either. 

They show that lenders don't trust you with a lot of money, that's pretty bad.

So how do they view me .... 17k on Amex and £100 on Barclaycard .... 🤔

I was going to say the same thing. I've got amex with tens of thousands of pounds each in limits, and I've got an old card with like £250 on it. Low limits are not a problem at all.