Barclaycard limit reduction post covid

Nebulous2

CRISPIANNE3 said:

Nothing from Barclaycard as yet. However last year they did say they wanted reduce one of my limits to £1,000 but if I used the card the limit would remain intact. 

I've got that as well. Need to use a particular agent and get £25 off...... 

topcat638

Have reduced my balance so they owe me £0.01. I suggest we all don,t rush to cancel. Let them administer an account were they are the debtor. I also requested my credit limit which is still £10000 to be adjusted to £5000 to see what happens

Anyone joining me? 

topcat638

sonofmerton said:

despite the moans on here and social media the one fact remains, no one is entitled to any credit, regardless of their made up score, always paying in full or not or having no missed payments or not. 

i've seen it all on social media and real life from 'don't they know who i am' to 'discrimination' and 'my kids are now starving'.

the reality is that with no credit at all, most would never own their own home or have a brand new car or that holiday in florida with all the family or even a basic washing machine. but again, no one is ever entitled to the aforementioned on credit. 

if a company chooses to refuse you credit or reduce it or even increase it they can and annoyingly for many, without ever giving a reason. 

for the record i have several 'cards'. occasionally used and paid off. i'm not entitled either in any way shape or form.

aside from mortgages, we need to get away from the sense of entitlement of credit. only then will we see what i want to see, a world population that buys what it can afford not afford what they have been loaned.  new section 75 rules for debit cards being introduced wouldn't go amiss either. 

  

Although you are totally correct in your assertion that no one is entitled to credit we are entitled to respect and customer service. Would you suggest the way Barclaycard have gone about this upholds any respect for their customers. It could have all  been handled in a more professional and thoughtful way. They probably let a computer algorithm make this call.

Emmia

topcat638 said:

Have reduced my balance so they owe me £0.01. I suggest we all don,t rush to cancel. Let them administer an account were they are the debtor. I also requested my credit limit which is still £10000 to be adjusted to £5000 to see what happens

Anyone joining me? 

By reducing your limit, you're voluntarily giving them what they want - which is to have to hold less "cash" to cover the risk of you maxing out your card. 

Seriously though, if you don't like what they're doing just close your account.

mab3000

topcat638 said:

Have reduced my balance so they owe me £0.01. I suggest we all don,t rush to cancel. Let them administer an account were they are the debtor. I also requested my credit limit which is still £10000 to be adjusted to £5000 to see what happens

Anyone joining me? 

As it would be against their terms and conditions for your credit card to be in credit, they could very well issue you a cheque for the amount you are in credit by and bring your balance to £0 like they regularly do with Barclaycards that are in credit. 

Chino

mab3000 said:

As it would be against their terms and conditions for your credit card to be in credit,  

Such a situation is not so much "against" Barclaycard's terms and conditions, more specifically catered for in the terms and conditions. From section 16 of https://www.barclaycard.co.uk/content/dam/barclaycard/documents/personal/existing-customers/terms-and-conditions-barclaycard-core-2020.pdf:

As this is a credit agreement, we will never pay interest to you for any balance on the account and you should not keep money in your account. For this reason, you need to make sure that you don’t pay more than your total outstanding balance (which would create a ‘positive balance’). If you do have a positive balance, we can return that balance to you, rather than leaving it in the account. If you have a Barclays current account, you authorise us to return any positive balance to that account. If you do not have a Barclays current account, you authorise us to return any positive balance to the same current account you use to pay your bill. We will write to you before transferring the money to give you the opportunity to ask us to return the balance to a different account.

easterbunni

phillw said:

easterbunni said:

I'm assuming Barclaycard aren't planning to reduce my limit given that they've sent me an email saying I should book my summer holiday using my Barclaycard...

Maybe they mean vacationing in your own home...

Spend £200 or more on flights and get a discount was the jist of the email

Shakin_Steve

easterbunni said:

phillw said:

easterbunni said:

I'm assuming Barclaycard aren't planning to reduce my limit given that they've sent me an email saying I should book my summer holiday using my Barclaycard...

Maybe they mean vacationing in your own home...

Spend £200 or more on flights and get a discount was the jist of the email

Yes, I've had that too. £25 discount is no big deal off flights, is it?

cymruchris

Out of interest, there's a lot of discussion about the limits being reduced - has anyone actually called up and said 'Please can I keep my limit thank you very much' or has everyone just begrudgingly accepted it or closed their accounts?

I did get a letter this week from another card provider - one that I only keep alive by using it for £10 or so a month because it's a longstanding account - and they said they were going to drop my limit. I rang them, and said 'Is there an option to keep the limit' they went off for a minute and came back, and said 'yes - we can re-instate it for you' so it's not moved.

I'm sure it won't work for everyone that BC is targeting - but it's likely they are reducing their overall exposure - but it should mean they'd assess each customer who challenged it?

GrumpyDil

Don't think they'll do it over the phone. My letter asked me to send in either bank statements or pay slips to prove my income.

Not sure I can be bothered though as I have several other cards anyway