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Credit card reduced limit

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maria3012maria3012 Forumite
1 posts
MoneySaving Newbie
For the past 3 years I have had unused Barclay Card with a £10,000 limit.  At the end of August I had an offer made available to me for a 0% balance transfer rate. I accepted the offer and transferred a £7000 debt onto my Barclaycard. It all went through and BCard applied a £133 charge. A week later I noticed they’ve reduced my limit to £1000, leaving me in a position where it’s now showing  £6000 approx over my limit. BCard have suggested I move it back to the original card. It’s now going through a complaints process and I’m waiting for the out come. I presume this will be affecting my credit rating whilst I wait. 

Replies

  • zx81zx81 Forumite
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    It will be showing on your credit file, yes.

    I would expect them to resolve it though.
  • edited 16 September at 10:39AM
    CRISPIANNE3CRISPIANNE3 Forumite
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    edited 16 September at 10:39AM
    maria3012 said:
    For the past 3 years I have had unused Barclay Card with a £10,000 limit.  At the end of August I had an offer made available to me for a 0% balance transfer rate. I accepted the offer and transferred a £7000 debt onto my Barclaycard. It all went through and BCard applied a £133 charge. A week later I noticed they’ve reduced my limit to £1000, leaving me in a position where it’s now showing  £6000 approx over my limit. BCard have suggested I move it back to the original card. It’s now going through a complaints process and I’m waiting for the out come. I presume this will be affecting my credit rating whilst I wait. 
    Where you went wrong was not notifying BC you wanted to keep the existing limit within the time frame. We had the same letter and  we were asked to text them back.  However did not work so we just sent a message and they took us of the closure list and the credit limit was kept at the original amount.
    However it does seem unfair they allowed you to balance transfer and then put you over your limit by £6000. To me it's a question of different departments not communicating with each other. 
  • jonesMUFCforeverjonesMUFCforever Forumite
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    What goes around - comes around
    give lots and you will always receive lots
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