Egg credit limit decrease

billysmum

James_Brandon wrote: »

Have you phoned them to explain your situation?

yes i have spoken to them, but they are very unhelpful

NickX

billysmum wrote: »

yes i have spoken to them, but they are very unhelpful

They should not penalise you if THEY have reduced the Credit Limit in such a way that your current balance shows as being over the limit.

If they are going to penalise you then I would make a formal complaint.

I think they should only reduce the Credit Limit to the Current Balance and not below it.

latecomer

but then they are allowed to close a card with a balance on it and demand payment in full, so why not just most of it?

NickX

latecomer wrote: »

but then they are allowed to close a card with a balance on it and demand payment in full, so why not just most of it?

I do not believe that they are allowed to do this.

When Egg closed the accounts of 161000 customers earlier in the year, they did not demand payment in full, but allowed continued monthly payments at the standard variable rate.

gomer

billysmum wrote: »

Hi, i have a credit card with littlewoods with a credit limit of £1450. i receiced a letter today stating that my credit limit has been reduced to £260 , but i owe £1333. on this card so i will get charged for going over my credit limit. does anyone know if i can do anything about it apart from paying it off which i cant afford to do all at once.
regards Lisa

When you say you still owe £1333, how long have you owed that amount? Have you been making payments in full or just minumum paymets? I also have the same card from littlewoods with the same credit limit but pay mine off in full every month & have never had my credit limit reduced so i wonder if perhaps they are only targetting people who do not pay in full each month?

markcliff4d

Halifax Credit Card tell me I made a late payment in October, I question that. If so it could of only been a minimum payment of £5 as I only had a balance of about £480, they never sent me a statement. The payment was made as I enquired why I never received a statement along with the November payment of £30:32. £50 was paid over the phone for both and I was told this was an overpayment. I have never defaulted on any payment in my life.
As a goodwill gesture, Halifax slashed my Credit Limit from £13,000 to £600:00, thats six hundred. Just to add salt to the wounds they have refered me to a Credit Agency Called Creditcare who I have to pay to get any info they have on me from them.
I never wanted that huge limit anyway they just kept putting it up.
I have written Halifax a stinking, polite letter, not received a reply yet.
Anyone else has similar problems with the Halifax.

Mark:mad::eek:

nickmack

billysmum wrote: »

yes i have spoken to them, but they are very unhelpful

If you've not missed or been late with any payments, you should make a complaint. Do this in writing, as if you've kept within T&C's and they've decided to reduce your limit, they should not charge overlimit fees.

gomer

Talk about confuse the issue - we now have 3 different conversations on the same thread. Nice one board guides! :rolleyes:

clio

this could be a new sarney... Egg & Littlewoods with brown sauce on hovis thick white bread m,mmmmmm...

gomer

We seem to have a side order of Halifax too.