BARCLAYCARD - We’re Reducing the Amount of Cash You Can Take Out

CRISPIANNE3

I received the same email yesterday. However it is. nice we are all being treated the same and not just the unflavoured few. Personally the only time I have ever used the card to withdraw cash was in 1980 in Barclays in Reading and that was an emergency. 

Highland76

cymruchris said:

Socajam said:

Hello Miss XXXXXXXXX We want you to know that we’re lowering the amount of cash our customers can withdraw with their Barclaycard to 30% of their total credit limit. From 21 August 2020, you’ll be able to withdraw up to £1,800 as cash with your Barclaycard. You can still use your Barclaycard to make purchases up to your total credit limit – it’s just the amount you can take out as cash that’s changing. Using your Barclaycard to take out cash could be more expensive than using it in a shop. So if you do have to use your card for cash in the future, we hope this lower withdrawal limit will help to keep your repayments manageable. What does this mean for you?

You’re still under your cash limit, so you can continue to use your Barclaycard to get cash, up to your new limit

Have you ever taken cash out on this card? 

I've only ever taken cash out on a credit card once in my life - and that was £20 in Taiwan when I ran out of money - and my debit card decided to play silly beggars. 

I can't see this kind of reduction affecting many people - in fact if they reduced it to £250 per person across the board - it still probably wouldn't affect a great number of people.

This will definitely affect Barclaycard Rewards customers considering it’s the best credit card for overseas cash withdrawals and many will have taken the card out just for this purpose. Luckily I’m not affected too badly affected as I have a limit of 7k on this card and it’s showing a limit of around 2k for cash withdrawals. But those with an overall limit of say 1k won’t be too happy. 

Highland76

I should also add - contrary to popular opinion - there’s absolutely nothing wrong with withdrawing cash using a CC provided you pay it off quickly and the issuer charges low/no fees for doing so. Been using my Halifax Clarity, Mbna Everyday Amex/VISA and now BC Rewards card for overseas and UK cash withdrawals for donkeys years and never seen it had a negative affect on my credit history. 

Socajam

Highland76 said:

cymruchris said:

Socajam said:

Hello Miss XXXXXXXXX We want you to know that we’re lowering the amount of cash our customers can withdraw with their Barclaycard to 30% of their total credit limit. From 21 August 2020, you’ll be able to withdraw up to £1,800 as cash with your Barclaycard. You can still use your Barclaycard to make purchases up to your total credit limit – it’s just the amount you can take out as cash that’s changing. Using your Barclaycard to take out cash could be more expensive than using it in a shop. So if you do have to use your card for cash in the future, we hope this lower withdrawal limit will help to keep your repayments manageable. What does this mean for you?

You’re still under your cash limit, so you can continue to use your Barclaycard to get cash, up to your new limit

Have you ever taken cash out on this card? 

I've only ever taken cash out on a credit card once in my life - and that was £20 in Taiwan when I ran out of money - and my debit card decided to play silly beggars. 

I can't see this kind of reduction affecting many people - in fact if they reduced it to £250 per person across the board - it still probably wouldn't affect a great number of people.

This will definitely affect Barclaycard Rewards customers considering it’s the best credit card for overseas cash withdrawals and many will have taken the card out just for this purpose. Luckily I’m not affected too badly affected as I have a limit of 7k on this card and it’s showing a limit of around 2k for cash withdrawals. But those with an overall limit of say 1k won’t be too happy. 

This is true for those with a low limit.
The destruction being caused by the Corona Virus will be financially devastating and it is not going to be pretty.  Even those who are financially stable are going to be slightly affected.
The Banks can see this and are tightening up now, one cannot blame them.

mro

This was done on one of my Barclaycards few months ago and was notified yesterday that they were doing to my 2nd Barclaycard.

Barclaycard have tightened up in last few years regrading their lending, far fewer Balance Transfer offers, probably due to Persistent Debt regulations.

But still it is a useful facility to withdraw cash, so love the posts from Nimby I'm Alright Jack Mob, I'm Retired, I Have Enough Money Always, Nothing Ever Goes Wrong !!

Socajam

mro said:

This was done on one of my Barclaycards few months ago and was notified yesterday that they were doing to my 2nd Barclaycard.

Barclaycard have tightened up in last few years regrading their lending, far fewer Balance Transfer offers, probably due to Persistent Debt regulations.

But still it is a useful facility to withdraw cash, so love the posts from Nimby I'm Alright Jack Mob, I'm Retired, I Have Enough Money Always, Nothing Ever Goes Wrong !!

I have 2 cards with them which is paid off every 7 weeks - this way I use their money for free.
 I am hoping that they don't reduce my limit because of this.  But things are and have been changed, especially since the virus.

NoodleDoodleMan

"But still it is a useful facility to withdraw cash, so love the posts from Nimby I'm Alright Jack Mob, I'm Retired, I Have Enough Money Always, Nothing Ever Goes Wrong !!"

That'll be the two or three generations that worked hard all through their lives contributing to their state pension and possibly a mandatory vocational pension,  and (perhaps) to contribute a further part of their income towards a modest private pension to ensure a relatively comfortable retirement ?

Nobody in this scenario has anything to apologise for.