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MBNA CC limit dropped by almost 12k to £75
Comments
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pecunianonolet said:Right, spoken with them and here is the result:
- Credit limit reduced due to non use of card
- Offered to look into it again but it would mean a hard search, basically like a new application, to see if the limit or any other can be restored /upheld
- Confirmed a letter should have already arrived with me, which it hasn't yet
- Case handler agreed that a limit of £75 isn't really useful and my question why they not closed the card straight
away was not answered, even when I asked it again. All I was told is that the bank has every right to reduce a limit, which they indeed have.
- Was offered to close down the card, I declined for now
- To merge both credit lines to one card and closing another was declined as impossible
- Asking if the reduction is a coincidence or deliberate because my promotion coming to an end was answered with "We can't comment on it but you haven't used the card"
- Case handler was trying to sell me the "positive" that due to the reduction I have now a possibility to get this credit line with another lender and that my credit file and score will not be impacted (which I disagree with) but potentially would be if I would get a hard search.
My last point I was bringing up is exactly what elasto mentioned, that in order to keep a credit line open I would need to go into more debt, when my priority was to repay the debt I already have. My question if they are encouraging more debt to keep a credit line open vs. responsibility of making sure existing debt is repaid first was where the case handler started to struggle a bit for answers. It was repeated over and over again that I haven't used the card and that the bank has every right to reduce. The case handler said the bank is not at fault but agreed that is not ideal practise and of course vehemently argued that they are a responsible lender, don't want to encourage more debt, etc.
My ask for any compensation was first declined but I was offered in the end a a good will one off gesture £25 of compensation because I always paid on time and because repaying existing debt should have priority over spending elsewhere to keep the line open. Case handler repeated once again that they are not at fault, have followed everything in the T&C's and that it is a good will gesture and that they technically not at fault and not need to pay.
Anyhow, my banana and apple budget for the year is sorted.
Thank you, over and out!
You use that card rather than the other you would be using, or a spend.
So no extra debt incurred.
In fact it would save you interest.
One transaction on that CC, pay in full = no interest. Rather than using other CC with a balance, given the mention of paying off. So taking it that it has a outstanding balance. So as you have not put that payment on that card, you have saved the interest it would have incurred 🤷♀️Life in the slow lane1
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