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Barclaycard limit reduction post covid
Comments
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Still no limit reduction on my wife's card. I double-checked the letter and it says limit reduction on 20th of May.0
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Think they have all been changed to 17 June.Vinknut said:Still no limit reduction on my wife's card. I double-checked the letter and it says limit reduction on 20th of May.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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I'm sure I saw it on one of the websites....sorry I can't find a link. I was looking around a while back as they were going to slash mine by about 90%.Vinknut said:I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php
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"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung
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Still no limit reduction on my wife's card...0
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Nor mine, over a month after the date stated. Not good really, I upped my limit on another card. Not that it makes a massive difference but what has been the whole point of this exercise?!Vinknut said:Still no limit reduction on my wife's card...0 -
Reduces Barclaycard's capital requirements. There's an internal cost to providing (unused) credit facilities. Think macro not micro. Might well be an element of manual intervention to process the changes. The letters have generated a lot of noise. That needs to be worked through.confused.com2 said:
Nor mine, over a month after the date stated. Not good really, I upped my limit on another card. Not that it makes a massive difference but what has been the whole point of this exercise?!Vinknut said:Still no limit reduction on my wife's card...1 -
Yes I see what you're saying. However it's not good customer service. We get a date out of the blue, for, in some cases massive decreases, dates come and go and nothing. Not even communication to say it's delayed. It can impact your credit worthiness, people need to make plans, some have applied for new cards as they need the limit. Will Barclaycard even be reducing limits now? Who knows!Thrugelmir said:
Reduces Barclaycard's capital requirements. There's an internal cost to providing (unused) credit facilities. Think macro not micro. Might well be an element of manual intervention to process the changes. The letters have generated a lot of noise. That needs to be worked through.confused.com2 said:
Nor mine, over a month after the date stated. Not good really, I upped my limit on another card. Not that it makes a massive difference but what has been the whole point of this exercise?!Vinknut said:Still no limit reduction on my wife's card...2 -
It seems the reductions have started being introduced. Mine has gone down last night from £13000 to £5500.0
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Yeah, same here, reduced at some point in the last 24 hours.
Giving out one date, not sticking to it, and randomly selecting another date seems a bit odd.0
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