Massive reduction in Barclaycard limit

cymruchris

Malkytheheed said:

Pretty glad I don't have a Barclaycard at this point if I am being honest! I was toying with the idea of getting one as I don't actually have a "VISA" credit card. (an extremely minor thing). Think I dodged a bullet. 

I had my Barclaycard limit increased last month - and my rate reduced. I'm on the Forward card - but have been told am eligible for the Rewards card product transfer, although I need to phone them to initiate it, and that's the tough bit at the moment. I don't think you're dodging a bullet by not getting one - they just seem to be assessing customers - and in some cases reducing larger credit limits where they've not been used in a while - they aren't globally closing everyones accounts. 

dr_adidas01

cymruchris said:

Malkytheheed said:

Pretty glad I don't have a Barclaycard at this point if I am being honest! I was toying with the idea of getting one as I don't actually have a "VISA" credit card. (an extremely minor thing). Think I dodged a bullet. 

I had my Barclaycard limit increased last month - and my rate reduced. I'm on the Forward card - but have been told am eligible for the Rewards card product transfer, although I need to phone them to initiate it, and that's the tough bit at the moment. I don't think you're dodging a bullet by not getting one - they just seem to be assessing customers - and in some cases reducing larger credit limits where they've not been used in a while - they aren't globally closing everyones accounts. 

You should give them a call to change it to the rewards one, you might have to wait a while on the phone or you might be lucky and get through quickly like I was when I called to change my old BarclayCard to the rewards one.  Especially if you want to start earning some cashback on your purchases, I know 0.25% isn't much but its the best thats on offer at the moment other than Amex of course.

cymruchris

dr_adidas01 said:

cymruchris said:

Malkytheheed said:

Pretty glad I don't have a Barclaycard at this point if I am being honest! I was toying with the idea of getting one as I don't actually have a "VISA" credit card. (an extremely minor thing). Think I dodged a bullet. 

I had my Barclaycard limit increased last month - and my rate reduced. I'm on the Forward card - but have been told am eligible for the Rewards card product transfer, although I need to phone them to initiate it, and that's the tough bit at the moment. I don't think you're dodging a bullet by not getting one - they just seem to be assessing customers - and in some cases reducing larger credit limits where they've not been used in a while - they aren't globally closing everyones accounts. 

You should give them a call to change it to the rewards one, you might have to wait a while on the phone or you might be lucky and get through quickly like I was when I called to change my old BarclayCard to the rewards one.  Especially if you want to start earning some cashback on your purchases, I know 0.25% isn't much but its the best thats on offer at the moment other than Amex of course.

They've confirmed by secure message that I can transfer to the new product - but so far haven't been able to reach them by telephone. I'm not in any rush - but would welcome the cashback

WYSPECIAL

ict_guy said:

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 🤷‍♂️

Same thing happened to me. I just used it a couple of times and got another text saying credit limit would remain. I've had several letters in the last year or so saying if you don't use xxxx card before a certain date we'll assume you no longer want it and close account. They're probably all looking at their profitability and getting rid of unused accounts.

CRISPIANNE3

WYSPECIAL said:

ict_guy said:

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 🤷‍♂️

Same thing happened to me. I just used it a couple of times and got another text saying credit limit would remain. I've had several letters in the last year or so saying if you don't use xxxx card before a certain date we'll assume you no longer want it and close account. They're probably all looking at their profitability and getting rid of unused accounts.

I would be loathed to give up any of my Barclaycards because they are still offering excellent promotional offers. However money transfers have now gone for me. However not something I have really taken advantage of.  Also they advised me they are only allowing 30 percent of my limit for withdrawing cash. Again I have never used that facility.