Barclays slashed my credit limit for non payment of unauthorized transactions

Chrysalis

I always keep some form of DD active on any cards even if I am not using them.

Dont know what will happen here, best thing is to sort out the fraud, and setup a DD in the mean time.  Ultimately you are responsible for managing the account.

Nasqueron

cheekykid said:

lr1277 said:

Are missed payment notifications a thing?
@cheekykid have you ever received a missed payment notification?
Over the years, but last time maybe 5 years ago I missed payments. But I was acutely aware the payment was due, but the money had not arrived in place due to my poor organisation and for various reasons not having a direct debit in place.
i don’t remember if I received any missed payment notifications on missing a payment.

Edited to add: I can see missed payment notifications might be useful for charge cards, as you have to pay them on time or I presume (but don’t know), you will face large fines. But for credit cards, because the card provider can start charging you interest, and it is allowed within the rules less need to send out a notification?

I did not receive any missed payment notifications anywhere. I was only alerted when I received a letter in the mail.

The only emails I got were of the "You have a new statement" variety. That's it. Obviously if I had received a missed payment alert I would have acted on it a lot sooner. I did not make these charges yet I pay the price for them.

End of the day, you received an email saying you had a statement - odd for a dormant account you believed you weren't spending on. You chose, as is your prerogative, to not read the statement as you assumed it was £0, and got hit with a charge for not paying the money due that was on the statement because of fraudulent payments. Take it as a lesson that if a supposedly dormant account which doesn't issue any statements (due to no spending) suddenly starts issuing statements, that you should read them and see what has been charged to the card to create a statement. Also, make it a habit to log into all accounts at least weekly to check there aren't any charges on there.

Nasqueron

Chrysalis said:

I always keep some form of DD active on any cards even if I am not using them.

Dont know what will happen here, best thing is to sort out the fraud, and setup a DD in the mean time.  Ultimately you are responsible for managing the account.

DD can go dormant after a period of not being taken, though it's at least 13 months 

cheekykid

Barclays said "the impact on the account might not be reversed because the payments were missed and it has been more than 14 days during which we could have requested the credit reference agency to rectify the issue as an exception"

So basically, credit file screwed and card limit slashed for something I didn't do. I wonder why accept the dispute of those transactions anyway if they aren't going to reverse their impact? I am not too fussed about the credit limit. It's my credit score that got tarnished with 2 non payments that bothers me and all this for £8!. I will escalate my complaint though to a more senior level. The chat agents don't seem to be able to do much other than parroting information.

eskbanker

cheekykid said:

Barclays said "the impact on the account might not be reversed because the payments were missed and it has been more than 14 days during which we could have requested the credit reference agency to rectify the issue as an exception"

So basically, credit file screwed and card limit slashed for something I didn't do. I wonder why accept the dispute of those transactions anyway if they aren't going to reverse their impact? I am not too fussed about the credit limit. It's my credit score that got tarnished with 2 non payments that bothers me and all this for £8!. I will escalate my complaint though to a more senior level. The chat agents don't seem to be able to do much other than parroting information.

By disputing the transactions, they've been reversed, i.e. you no longer owe Barclaycard that money.

The consequential impact on your credit file and limit are effectively considered to be your responsibility, in that you could, and should (as far as they're concerned), have avoided these by reading your statements and taking the necessary action promptly.

LightFlare

Debbie9009 said:

So to summarise, you haven’t been checking your statements and don’t believe you have any obligation to do so, you also haven’t seen the card for three months. Personally I think it’s good that Barclays have lowered the limit as it has alerted you to the issue, and saved you from someone using the card for large amounts.

 Can’t disagree with any of this.

cheekykid

eskbanker said:

cheekykid said:

Barclays said "the impact on the account might not be reversed because the payments were missed and it has been more than 14 days during which we could have requested the credit reference agency to rectify the issue as an exception"

So basically, credit file screwed and card limit slashed for something I didn't do. I wonder why accept the dispute of those transactions anyway if they aren't going to reverse their impact? I am not too fussed about the credit limit. It's my credit score that got tarnished with 2 non payments that bothers me and all this for £8!. I will escalate my complaint though to a more senior level. The chat agents don't seem to be able to do much other than parroting information.

By disputing the transactions, they've been reversed, i.e. you no longer owe Barclaycard that money.

The consequential impact on your credit file and limit are effectively considered to be your responsibility, in that you could, and should (as far as they're concerned), have avoided these by reading your statements and taking the necessary action promptly.

You are wrong.

I am not under any obligation to be checking my account a certain amount of times each month etc. I went ahead and raised a formal complaint with Barclays. They cannot grant me that fraud was committed but then be hands off when it comes to the impact of said fraud. If they had rejected my dispute then it would have been a different story.

After a few weeks they came back to me yesterday and told me that they have upheld my dissatisfaction and will restore my credit limit and remove the late payment markers from my credit file. Happy days.

born_again

If you are not using the account then no need for  £4K limit. 

As a aside on this. After 13 months, the bank has no obligation to refund any of these payments. FCA regulations. After that time FCA deem that the account holder is happy with the payments, given they should be checking their accounts.

MrFrugalFever

cheekykid said:

eskbanker said:

cheekykid said:

Barclays said "the impact on the account might not be reversed because the payments were missed and it has been more than 14 days during which we could have requested the credit reference agency to rectify the issue as an exception"

So basically, credit file screwed and card limit slashed for something I didn't do. I wonder why accept the dispute of those transactions anyway if they aren't going to reverse their impact? I am not too fussed about the credit limit. It's my credit score that got tarnished with 2 non payments that bothers me and all this for £8!. I will escalate my complaint though to a more senior level. The chat agents don't seem to be able to do much other than parroting information.

By disputing the transactions, they've been reversed, i.e. you no longer owe Barclaycard that money.

The consequential impact on your credit file and limit are effectively considered to be your responsibility, in that you could, and should (as far as they're concerned), have avoided these by reading your statements and taking the necessary action promptly.

You are wrong.

I am not under any obligation to be checking my account a certain amount of times each month etc. I went ahead and raised a formal complaint with Barclays. They cannot grant me that fraud was committed but then be hands off when it comes to the impact of said fraud. If they had rejected my dispute then it would have been a different story.

After a few weeks they came back to me yesterday and told me that they have upheld my dissatisfaction and will restore my credit limit and remove the late payment markers from my credit file. Happy days.

I would suggest you have been as lucky as someone winning the lottery here as quite frankly Barclaycard should be 'under no obligation' to reverse the negative impact to your credit file for your own failings, namely not reading statements and checking your account status. 

Whatever your personal view is of this particular situation, a little bit of due diligence and housekeeping on your part would certainly go a long way to avoid this from ever happening again. 

MrFrugalFever

born_again said:

If you are not using the account then no need for  £4K limit. 

As a aside on this. After 13 months, the bank has no obligation to refund any of these payments. FCA regulations. After that time FCA deem that the account holder is happy with the payments, given they should be checking their accounts.

Absolutely. I am well versed on FCA regulations and its regulatory requirements go hand in hand with a specific aspect of my job, knowing their role as I do, the word 'reasonable' would most likely be applied to scenarios such as this.