Could Vanquis CC reduce my limit,after I pay full balance off?(been paying minimum Payment for 2 Yrs

Danny_G

I have a Vanquis gold credit card, limit of £3000
To make is simple, the balance for 2 years (24 months) has been near the limit full,6 (lets say £2500 for similciy) and have been paying just above the minimum payment every month  (lets say £200/month)
and yes I know alot of interest was accumulated during this time,

but now am able to pay the full remaining balance in one go, which will make the balance = £0.
and no more interest.

But I would like to keep the allowed credit limit to £3000 for the future.


Was wondering could they see that I had a huge amount of ongoing debt, and reduce the limit from £3000 to £1500 for example,
as an act of being a more responsible lender ?  which means I don't have as much credit to use in the future.

Could they reduce this limit automatically, without asking me?  with a notification via letter to say that they have done that, to be a etc?

has this happened with you on your vanquis credit card?

what was your experience?
It is a vanquis Gold card

[Deleted User]

Yes, they could reduce it.

But don't ever let that stop you paying it off.

alfred64

They could even increase it, too.

Some_Guy

Deleted_User said:

Yes, they could reduce it.

But don't ever let that stop you paying it off.

Absolutely - pay it off, pay it off, pay it off!

cymruchris

Pay it asap - whatever they do they do - it's likely they won't - but if they did it's not the end of the world. Paying silly interest is. Go for it - get it down to zero. 

ceremony

Nobody can say for sure what an individual provider will do. However, if you've been with Vanquis 2 years and have been making on-time payments, you can probably get a card with a "better" provider now should you ever want it.