Barclaycard

Money_Mad_3

Hi:j
Just want to ask whether anyone has had their barclaycard limit deceased. I have and when I telephoned barclaycard they inform me it was their new policy on lending responsibility. Also received a standard letter stating that they had review my credit reference, thought they did that when giving me the card. Had card since before christmas. I have never gone over my credit limit, nor have I ever missed payments and always paid more than the minimum payment. I was told that as I didn't go up to my limit that I didn't need it and thats why they had reduced it. Just wondered if anyone else has had this done

lynxptc

If you were up to your limit each month then they'd probably lower it anyway as it would be a sign of getting yourself into debt.

londonuk2008

Same thing happened to me! Twice they dropped my limit and once upped it... what I was told is they , take a score feed from Experian when they submit your monthly account . In my case I have no problems except a few too many searches , which drops my score!

mountainofdebt

Barclaycard went through a phase a whileback of reducing limits as part of their responsible lending policy - both OH and mine were reduced.

Seems like they've started the responsible lending policy again!

Gorgeous_George

I received the same letter. Apparently they checked my score with credit reference agencies and reduced my limit.

I shall close the account this month. Then I shall move £6K in ISAs to alternative accounts. The £7.2K I had planned to invest in Barclays ISAs this week will find a new home.

GG

Bismarck

thanks for the warnings...I shall await my post with interest!

PAULUK08

londonuk2008 wrote: »

Same thing happened to me! Twice they dropped my limit and once upped it... what I was told is they , take a score feed from Experian when they submit your monthly account . In my case I have no problems except a few too many searches , which drops my score!

Well if this is the way they want to operate we should vote with our feet!

Money_Mad_3

Thanks for all your replies. What is annoying I never went up to my credit limit, but relieved it wasn't just me

londonuk2008

I reckon they have had there fingers burnt once or twice and pulling down the hatches.....

Milarky

Mine was reduced from 3,700 to 3,200 in a letter dated 28 May w.e.f. 30 May - today - the date the letter arrived.....

It's on LOB and reducing only slowly - so if they want to reduce it again later they'll have to wait several months as the new CL is very close to the current balance.

clio

Miklarky
have you got a link to the LOB card and can i apply online or do i need to go into the bank / phone them up also will it be a instant yes or no if i use online application??

Edit doesn't matter matey found it myself. no BT fee either which is a bonus plus 6.5% for life of the blance transfer
then apr go's up to 15.9