Credit card limit dropped

warsawtrend

Hi everyone. Barclays bank dropped my credit card limit from £7400 to £100 suddenly. There only response when questioned was check you credit report. I did this with Equifax, Transunion and Experian and everything is perfect. I contacted the Financial ombudsmen only to be told they could see nothing unfair as to what they had done it and they could tell me no more. No one will explain why this happened  and everything look perfect. Does any one know how i could get the information. Thanks. Drew

MeteredOut

Have you been using the card? Does it have a balance on it?

Banks can sometimes reduce the credit on a card not used for a period of time (months rather than days) to protect both them and their customer.

It could simply be that Barclays have changed the way they profile their customers meaning you're no longer fit their target customer profile. No-one at Barclays will (be able to) tell you this.

la531983

Quite simply you dont make them any money and they dont want your business, in the same way you could close your relationship with them at any time if you see fit. Dont take it personally. The FO wont do anything.

eskbanker

Chances are that the limit reduction would have been an automated decision, so you might be able to find out more about it by making a subject access request if you specifically ask for details of how that process was applied to your data:

https://ico.org.uk/for-organisations/uk-gdpr-guidance-and-resources/individual-rights/individual-rights/rights-related-to-automated-decision-making-including-profiling/