Are Barclaycard at it again with their limits??

MrFrugalFever

I’ve just received an email alerting me to a document that’s ready to view in the app. I’ve logged in and opened said document to find that it was dated 2 days ago and telling me that my limit will go from £6,500 to £800 on 9/5/23. Well thanks for that, very little notice and I am over that so will now need to pay off statement early to bring well under the £800.

No reason other than ‘routine account checking’.

I spend anywhere between £500-2,000 per month on the card and always pay statements in full and haven’t paid a penny in interest last 6 months of having it.

Very annoying, anyone else had their limit slashed recently? I know there was a spate of it just after first lockdown in Covid.

cymruchris

Nothing in mine - I usually spend 10-20% of my limit monthly and pay in full as well. 

If you are over it at the time they notify you, you don't have to panic. Just make your usual payments. 

It might be worth giving them a call to ask them to reassess whatever they've done to decide to drop the limit. I recall last time they did it, some people did get their existing limits re-instated on having a chat. 

WillPS

Had a significant increase approved last month on demand.

Nebulous2

How long have you had it? 

Do they offer you balance transfers / money transfers? 

My account is a legacy one, transferred in when they bought another lender, Egg I think. I have a £12k limit, which has never changed. 

It's rare for me to go over £1k a month, maybe twice a year. I'm hammering it at the moment however, as we are getting work done on our house and a dramatic drop would be inconvenient. 

There was a period during the lockdown when they didn't offer much, but I'm getting decent offers just now, so hopefully they are happy to leave me alone. 

lr1277

I ask the following out of curiosity. Are you willing to tell us which particular type of Barclaycard you have? Is it the Avios Mastercard?

Edited to add: I ask because the last 6-12 months, the Avios Mastercard has had publicity and been made enticing with sign up offers. It would be a poor sign if Barclaycard are already reducing the limits on the card which it is heavity promoting.

northwalesd

Nothing on mine, limit is 4k and I was offered an increase earlier in the year that I didn't action. My spend is very low, only about 1% of the card limit a month and always paid in full.

surreysaver

They put my limit up from £8100 to £9600 a couple of months ago, with no request from me

daivid

Nothing on mine, but have had it less than 6months.

redux

Going by the other replies, it sounds like it's worth a phone call to try to understand this and ask for it to be reviewed.

It can be frustrating to have a limit below the monthly spending, especially when you consider the balance actually fluctuates between about 3 and 7 weeks spending. Keeping mental track and making 3 or 4 payments a month might get boring.

MalMonroe

Hi, I'm with those suggesting you give them a call. Sometimes talking to someone sorts things out much quicker, in my experience.

And in a polite way, of course,you could mention how disappointed you are about the very sudden and dramatic cut in your limit. It does seem really extreme. 

I once had a Barclaycard and found them to be unsatisfactory. So I left. 

Shakin_Steve

They upped my limit by £2K last month, I didn't ask them to. A bit strange as I never got anywhere near the existing limit.