Barclaycard 5 days old drama... re: credit limits

bella86

Hi all,

I have ben reading with great interest the Egg and Barclays threads re: current situations with credit limits and closures, what i would like to ask is this:

What has hapened to my card in 1 week of opening to change my limit?

I was given £1850.00 credit limit last week when i applied. Didnt max the card out - tho wish i had now, and when i went to use it one day - i found out they ha cut my limit to barley £200.00.

Why did they offer me a high limit to begin with if they are trying to be sensible lenders? and then take it away without notifying me - the letter has yet to arrive!!

Just to clarify, no a/c closed or opened / no late payments / no CCJ;s etc / nothing on my credit report has changed in 5 days

Has this happened to anyone else?

Thanks

mkfruitcake

Barclaycard now give you a credit limit, and a cash limit which is normally a lot lower.

so when you found out your limit had changed, how did you find out? did you go to the cashpoint to draw cash etc - in which case the reason will be the 2 different limits!

smithja

Hi Bella

I had the same problem at one point, I opened a Barclaycard account and was given a limit of £3500 within 2 weeks it was cut to £260. Many other people on this board have had the same problem with their limits being cut. I received a letter worded rather unpleasantly implying it was my fault, and I was told categorically the decision would not be reversed in the letter and over the telephone. I made a formal complaint to the CEO's office and it was put back to £3500 within 5 days, so I would advise you to go down that route and make a complaint.

I have since been upgraded from the Initial card, to a Classic card, and now a Platinum card all with the same £3500 limit, so I cannot be that bad a customer after all, each came with a lower APR.

Hope this helps.

James

bella86

thats great advice James thank you, seems the same thing has happened to me so fingers crossed i can get this resolved.

Who do i make the complaint to? Do you have any contact details? That would be really helpful, thanks again,

Claire

bella86

mkfruitcake wrote: »

Barclaycard now give you a credit limit, and a cash limit which is normally a lot lower.

so when you found out your limit had changed, how did you find out? did you go to the cashpoint to draw cash etc - in which case the reason will be the 2 different limits!

Yes, both were dropped. Credit limit - £1850 - cash advance - £550

It is now credit limit - £390 - cash advance - £350

which btw i thought was quiet a high advance for a small credit limit!!

bella86

smithja wrote: »

Hi Bella

I made a formal complaint to the CEO's office and it was put back to £3500 within 5 days, so I would advise you to go down that route and make a complaint.

Dont suppose you have the name and address to right to ? Thanks

smithja

Will post it by the end of the day.

James

bella86

smithja wrote: »

Will post it by the end of the day.

James

Thats brilliant news James, cheers!!

Will keep an eye out!

smithja

Mr John Varley
Chief Executive
Barclays Bank PLC
1 Churchill Place
London
E14 5HP

Thats the one.

Good luck.

James