Massive reduction in Barclaycard limit

Time2Go_25

I think Barclaycard are doing this to a lot of people, I have two cards both of which are being reduced from 15k to 1k and then being closed in September unless I use it or text them.

Coveredinbees!!!!

I had the same from about 10k to 1k but as I don't need it I cancelled, I was thinging of getting rid of it anyway. I'll have the option to be a new customer again when the world gets back to some sort of normallity.

CRISPIANNE3

I was advised that my cash limit was now 30 percent of my overall credit limit but the credit limit is staying the same. However I have never drawn cash . Also money transfers have now completely stopped but balance transfers are in plenty. 

cymruchris

ilikewatch2 said:

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

If you do decide to ask, update us on how you get on. It'll be useful info for anyone else that faces a similar situation. 

ilikewatch2

cymruchris said:

ilikewatch2 said:

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

If you do decide to ask, update us on how you get on. It'll be useful info for anyone else that faces a similar situation. 

Having thought long and hard I decided to cancel the card.
I'm still concerned that they made such a drastic change to my credit limit, and I wasn't told till 3 days afterwards - this could have left me in a really awkward position.

CRISPIANNE3

ilikewatch2 said:

cymruchris said:

ilikewatch2 said:

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

If you do decide to ask, update us on how you get on. It'll be useful info for anyone else that faces a similar situation. 

Having thought long and hard I decided to cancel the card.
I'm still concerned that they made such a drastic change to my credit limit, and I wasn't told till 3 days afterwards - this could have left me in a really awkward position.

At least they gave us notice that provided we text them or use the card the credit limit will remain the same. Personally I'm not bothered. However their balance transfer offers are usually very good.

Sad_Dad

AMEX reduced my credit limit last week from 15k to £700. My wife and I use AMEX for all our spending (way more than £700 a month). I was going to buy a new laptop and take advantage of their Dell offer (spend £750 and get £100 cashback). Just realised that I can get around that by making my balance negative (I know you shouldn't really do this). 

wiseonesomeofthetime

@Sad_Dad - That is truly a strange decision if you use the card regularly.

Did your personal circumstances change recently that could be reflected in your credit report?

Did you take advantage of a Payment Holiday with a credit provider that may reflect in your report?

Sad_Dad

wiseonesomeofthetime It will because I Stoozed about 50k and put a lot of it through my AMEX card.

Malkytheheed

I didn't know AMEX even did such low limits!