Marbles decreased credit limit

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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    SidsWife wrote: »
    It's a real shame, because the process I had going was really building my score up.

    Then you're wasting valuable time building a fictitious number up
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,595 Ambassador
    First Anniversary First Post Name Dropper I've been Money Tipped!
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    SidsWife wrote: »
    I pay about 3 times more than the minimum each month, then clear the balance in full when my student loan comes in. I've just spoken to someone from their department who said that she can't see any reason on my account why they would do this, it's well maintained and up to date, but she can't do anything until its been through the relevant channels. So I just have to sit and wait for the time being. It's a real shame, because the process I had going was really building my score up.

    Regardless of whether the account is well maintained or not the issue is really that you are unable to cover your living costs without using credit and you are always dependent on them continuing to agree to advance you money. Even if they reinstate your limit which I don't think they will I would urge you to knock this on the head and use your loan to pay your living costs and pay the credit card off gradually leaving yourself enough to live off in the meantime until your next student loan payment comes through.

    The credit score means nothing. Don't worry about it. Just maintain the cards you have well. I hope you manage to sort something out so you can continue your course.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • SidsWife
    SidsWife Posts: 21 Forumite
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    The number does mean something, it's why I can't apply for an overdraft etc. From what the woman said on the phone, everything on my account looks good so I'm hoping with a bit of grovelling they may reinstate it and I can look into other options of managing my money better in the future.
  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
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    SidsWife wrote: »
    The number does mean something, it's why I can't apply for an overdraft etc. From what the woman said on the phone, everything on my account looks good so I'm hoping with a bit of grovelling they may reinstate it and I can look into other options of managing my money better in the future.


    No, really, it doesn't mean anything. People who are bankrupt often have a credit 'score' of 999, it doesn't mean a thing! They look at how you're managing your debts, if you're paying them on time, if you're going over the limit, what your existing debts are and that's pretty much it. Check your credit files for any late payments or CCJs, these will be what's causing the overdraft rejection. I doubt companies or banks can see your score anyway, it's just a marketing tool.
  • SidsWife
    SidsWife Posts: 21 Forumite
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    I have no late payments, no CCJ's etc.
  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
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    I would seriously look for another card with a different company!!!
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,595 Ambassador
    First Anniversary First Post Name Dropper I've been Money Tipped!
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    I would say your problem is lack of income and no paid employment and this is more likely to dissuade lenders. Do you have a mortgage?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • SidsWife
    SidsWife Posts: 21 Forumite
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    No mortgage, I rent.
  • mije1983
    mije1983 Posts: 3,665 Forumite
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    How were you planning on paying off the final few months of CC payments after you received your final loan payment? If it was savings, could you not use those now?
  • SidsWife
    SidsWife Posts: 21 Forumite
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    I dont have any savings. Next summer I will have a full time job over the summer to pay it all off. Then my final year will have been the student finance just to keep in my current account.
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