Barclaycard

oopalah

Well, I seem to have exactly the opposite experience with Barclaycard. They keep increasing my limit, the latest increase being just last month when it went up by £1,500. It now stands at £11,500. I never ever go up to my limit. I currently owe £3,000 on it at a low rate of interest because it was a balance transfer. I also never spend on it.
With all the talk about Experian, I'm now wondering if it's because I've gradually been paying off and cancelling other credit cards, the last one being 3 months ago.

smithja

Bismarck wrote: »

Must confess I do log on to my Barclays current account and Barclaycard most days to check if anything bizarre has happened...sadly compulsive but I am trying to figure out what triggers the changes....no luck yet.

I do exactly the same.

The current account pre-approved offers is updated at the beginning of every month. I was told sometime between 3rd and the 6th.

vbrindle

I'm not sure what to say...

My barclaycard master card has been increased from 2,200 to 3,700. I didn't expect this.

However I've taken a screenshot of this when I signed in online in case they try to pull a fast one and lower it down again causing me to go over my limit which wouldn't be what it is now.

I don't trust anyone these days. :rotfl:

londonuk2008

Barclaycard still have'nt had the decency to reply to me as yet - ok its only been a week , but like most I don't trust them anymore! First priority after my holidays at the end of June is to pay the balance off and get rid!

Dylanwing

A little while ago, I bored the pants off Forum users as Sainsburys kept reducing my limit as part of the 'Responsible Lending' campaign, once from £200 to £170. I now use Aqua and Barclaycard (Interest Free football season ticket), and just cannot work out what criteria these Companies use. My conversations with Sainsburys were bizarre, with no explanations that made sense, and everything decided by the mystical under-writers who don't talk the Joe Public! The problem myself and others had is that we paid money into the card for a specific purpose, then had the limit taken. I overcame this, and now just don't trust CC Companies - Their loss really.

londonuk2008

I agree 100%! I don't understand also - thats why I have sent Barclaycard a subject access request . Then I can see exactly what they think of me?Just curious as its very annoying , where other companies that I use( whether credit card or mail order )give me decent limits.And I don't abuse them!
Also strange that my own bank would give me a overdraft twice what Barclaycard give me as a limit!
Naturally , I have't took my banks offer up - been with bank two years and Barclaycard nearly ten years.
I have asked before , but it would be interesting if anyone who works for these to explain there reasoning - NOT just the old ' responsible' lending answer though.

Bismarck

Think it all boils down to some kind of safe profitability index ...you need to be a bit committed, but not overly so, need to borrow without being desperate and have assets to back it all up if they decide they've finished playing with you/milking you.

The only responsibility that's being addressed is to the shareholders.

Spongo_2

New to this, so please be patient! Applied for 0% card and got accepted - no problem. You have to get card and letter of authority before transferring any balance. They set the limit at £6790. Have just rung them, armed with everything needed to transfer the balance from our Capital One card (£6500ish), to be told I could only transfer £5000 of it or 90% of credit limit. Nowhere is this stated on the application, or any subsequent paperwork. Be warned - spoke to the highest manager I could get on the phone and they wouldn't budge. I cancelled the card over the phone as I felt I had been misled. Now have to search for another........! Fortunately, we still have another month on Cap One card before the 0% runs out! Must do the money makeover!!!

MABLE

Spongo wrote: »

New to this, so please be patient! Applied for 0% card and got accepted - no problem. You have to get card and letter of authority before transferring any balance. They set the limit at £6790. Have just rung them, armed with everything needed to transfer the balance from our Capital One card (£6500ish), to be told I could only transfer £5000 of it or 90% of credit limit. Nowhere is this stated on the application, or any subsequent paperwork. Be warned - spoke to the highest manager I could get on the phone and they wouldn't budge. I cancelled the card over the phone as I felt I had been misled. Now have to search for another........! Fortunately, we still have another month on Cap One card before the 0% runs out! Must do the money makeover!!!

It is stated in their terms and conditions that you can transfer the max of £5,000 or as you say 90% of your credit limit. Was that really a good move to cancel the card. They've given you a good limit and £5,000 was there to be transferred.

Extracted from their website.
New customers

Are you new to us and looking for offers on balance transfers?
Whatever you're looking for, we've got a Barclaycard to suit you. Transfer any amount, provided that the total does not exceed £5,000 or 90% of your credit limit.
Browse our range of credit cards and apply online today


Unquote

Also you have wasted a credit search and if you try applying for another card you may find it difficult to get a good limit.

Bismarck

Spongo wrote: »

New to this, so please be patient! Applied for 0% card and got accepted - no problem. You have to get card and letter of authority before transferring any balance. They set the limit at £6790. Have just rung them, armed with everything needed to transfer the balance from our Capital One card (£6500ish), to be told I could only transfer £5000 of it or 90% of credit limit. Nowhere is this stated on the application, or any subsequent paperwork. Be warned - spoke to the highest manager I could get on the phone and they wouldn't budge. I cancelled the card over the phone as I felt I had been misled. Now have to search for another........! Fortunately, we still have another month on Cap One card before the 0% runs out! Must do the money makeover!!!

I regret that the first phrase to spring to mind is "cancel in haste, repent at leisure"....I'd have taken the £5K transfer limit and viewed things again when I'd considered all options...I've transferred over £6K before now in 2 separate chunks - part on the special rate deal and the rest at 6.9%...in the same phone call.