Limit Decreased

bradders1983

busymummyof2 said:

I got exactly the same letter yesterday, my limit was £4500 and decreased to £250 too.  I'd never used the card that much and paid it off in October but it was emergency fund and had planned to use it a bit over November and December, as I have no savings. I've had to use it this month and the balance is just over £300 so not sure what will happen.  

Surely the limit doesnt come in straight away and the letter gives you time to get back under it?

Zookie24

Barclaycard kindly informed me that they have looked into the limits they set for me and decided the increase to £3,000 should not have happened so refunded me £600 (not directly to me but to the card ) and dropped the limit to £2.500, good news for me but can i claim this on other credit cards Thanks

MattMattMattUK

busymummyof2 said:

I've had to use it this month and the balance is just over £300 so not sure what will happen.  

You need to reduce the balance below £250, including any interest which will be applied, or you will be charged an over-limit fee.

bradders1983

Zookie24 said:

Barclaycard kindly informed me that they have looked into the limits they set for me and decided the increase to £3,000 should not have happened so refunded me £600 (not directly to me but to the card ) and dropped the limit to £2.500, good news for me but can i claim this on other credit cards Thanks

Well no, you cant "claim" anything. The other increases may have been legitimate.

vacheron

Barclays seem to do this quite regularly. There was an issue a couple of years ago where they wound back the morgtgage linked current account overdraft facility of thousands of their offset mortgage customers, they tried to pull mine down from 45K to 6K. All I had to do was ring them and they immediately re-instated it. 

I think it is an easy way of limiting exposure as probably 80-90% of customers would just let it happen and even if they reinstate everyone who contacts them they can still wind in a significant amount of exposure risk.

busymummyof2

I've just spoke to them and there's nothing they can do on the phone and said they were reducing limits of unused cards  With the letter there was a form to provide proof of income.  Only problem for me is that I start a new job on Monday. Going to give it a go and see if I can keep some limit just to get through to January then can get back on track with paying things off (I hope)

Silvertabby

Our Barclaycard is one of our 2 cashback cards (used to be Goldfish).  Very poor cashback rates now, so more likely to use the other card. 

Both are paid off in full every month, and so while we don't actually need 2 cards it's a handy back up should we damage the other one or there is a technical problem*.  It also has the benefit of a £10K limit, so we use it for large purchases for the extra protection.

Will be annoyed if we lose this.

* Like the time I tried to pay for my M&S food shop with my M&S card - and it was declined.  Got the 'smirk' from the cashier, so glad that my Barclaycard worked!  Got home and told Mr S that I needed to ring M&S as it looked like my card may have been compromised.  'Don't think so' said he.  'Our new cards came today and I activated them both without a problem'.  Grrrr !

[Deleted User]

The limit should stay above your current balance.  But keep an eye on it.

P3

How long does the letter say before they reduced the limit?

1 month???

ItchyCat

P3 said:

How long does the letter say before they reduced the limit?

1 month???

Mine says 7th December.