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  • FIRST POST
    • SidsWife
    • By SidsWife 18th Sep 19, 2:05 PM
    • 21Posts
    • 1Thanks
    SidsWife
    Marbles decreased credit limit
    • #1
    • 18th Sep 19, 2:05 PM
    Marbles decreased credit limit 18th Sep 19 at 2:05 PM
    I paid my credit card off in full 2 days ago, and I've just had a text to say they have decreased my limit. I now 2grand vanished into thin air, which is my money to survive on for the next 3 months. I have always paid more than my monthly minimum payments and an advisor I spoke to 4 weeks ago said that my account was looking good and it was being managed really well. As I'm a student, I pay off my balance in full every 3 months when my loan comes through the live on that, always paying my minimum payments off.
    My credit score hasn't changed, there is no reason why they would do this. I now have been left 100 pounds to last me 3 months. They have passed it into complaints and say it can take up to 8 weeks to get back to me. Can they do this? The guy on the phone said they may be able to compensate me if it's left me in financial hadrship, which it has. I'm really worried about this now, and worrying that I will have to drop out of uni. They have me no warning that they had any concerns with my account, they just did it today.
    Has this happened to anyone and what happened when they reviewed it?
Page 1
    • zx81
    • By zx81 18th Sep 19, 2:10 PM
    • 24,118 Posts
    • 26,848 Thanks
    zx81
    • #2
    • 18th Sep 19, 2:10 PM
    • #2
    • 18th Sep 19, 2:10 PM
    My credit score hasn't changed, there is no reason why they would do this.
    Originally posted by SidsWife
    Your credit score isn't a factor and there's lot of reasons they would do it - and yes, they are allowed.

    The main reason is that you're demonstrating that you're reliant on the credit, which make you high risk.

    Apply elsewhere if credit is an absolute essential.
    • SidsWife
    • By SidsWife 18th Sep 19, 2:13 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    • #3
    • 18th Sep 19, 2:13 PM
    • #3
    • 18th Sep 19, 2:13 PM
    But if I'm paying more than my minimum payments each month and managing the account, what difference does it make to them? Can they really just completely leave me in the !!!! like this?
    • zx81
    • By zx81 18th Sep 19, 2:15 PM
    • 24,118 Posts
    • 26,848 Thanks
    zx81
    • #4
    • 18th Sep 19, 2:15 PM
    • #4
    • 18th Sep 19, 2:15 PM
    Of course they can. It's their money - not yours.

    Despite the general belief, you have no right to credit from anyone.

    They won't carry either unprofitable or high risk customers.
    • SidsWife
    • By SidsWife 18th Sep 19, 2:20 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    • #5
    • 18th Sep 19, 2:20 PM
    • #5
    • 18th Sep 19, 2:20 PM
    I'm completely screwed then.
    • zx81
    • By zx81 18th Sep 19, 2:22 PM
    • 24,118 Posts
    • 26,848 Thanks
    zx81
    • #6
    • 18th Sep 19, 2:22 PM
    • #6
    • 18th Sep 19, 2:22 PM
    If you refuse to consider other options, then yes, perhaps you are.
    • SidsWife
    • By SidsWife 18th Sep 19, 2:24 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    • #7
    • 18th Sep 19, 2:24 PM
    • #7
    • 18th Sep 19, 2:24 PM
    I don't have any other options. They specifically said that my credit file had changed which is why they did it. But I've checked my credit file and it hasn't changed for 4 months.
    • sleepyjones
    • By sleepyjones 18th Sep 19, 2:24 PM
    • 4,801 Posts
    • 349,809 Thanks
    sleepyjones
    • #8
    • 18th Sep 19, 2:24 PM
    • #8
    • 18th Sep 19, 2:24 PM
    You could always try and apply for a new card?

    Check here and see what it says : https://www.moneysavingexpert.com/eligibility/credit-cards/
    *Good Luck * Be Lucky * Stay Lucky*
    • zx81
    • By zx81 18th Sep 19, 2:25 PM
    • 24,118 Posts
    • 26,848 Thanks
    zx81
    • #9
    • 18th Sep 19, 2:25 PM
    • #9
    • 18th Sep 19, 2:25 PM
    So you've applied to every other lender already?

    That was quick.

    How many of your credit files have you checked? Every file changes, because another month has gone by.
    • SidsWife
    • By SidsWife 18th Sep 19, 2:26 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    There's no need to be so rude to me. If I apply for another card, I'll get a starting limit of 500 which doesn't help that I've just lost nearly 2k.
    • zx81
    • By zx81 18th Sep 19, 2:29 PM
    • 24,118 Posts
    • 26,848 Thanks
    zx81
    There's no need to be so rude to me. If I apply for another card, I'll get a starting limit of 500 which doesn't help that I've just lost nearly 2k.
    Originally posted by SidsWife
    No one is being rude. But you're not demonstrating much proactivity given you give the impression that credit is important to you.

    You can either just say 'I'm screwed' or you can do something about it. It doesn't matter to me, but I thought it might to you.

    You won't know what limit you get until you apply and are accepted.
    • sleepyjones
    • By sleepyjones 18th Sep 19, 2:29 PM
    • 4,801 Posts
    • 349,809 Thanks
    sleepyjones
    There's no need to be so rude to me. If I apply for another card, I'll get a starting limit of 500 which doesn't help that I've just lost nearly 2k.
    Originally posted by SidsWife
    Not sure if that was directed at me?
    Sorry, didn't think I was being rude.

    It depends on the card what limit you will receive, I would run the eligibility checker and see what it comes up with. If your credit history isn't great then you may start off with a lower limit but it doesn't sound as if your history is bad ... you might be surprised, it's only a soft search so won't affect your Credit, you've got nothing to lose at this stage.
    *Good Luck * Be Lucky * Stay Lucky*
    • Willing2Learn
    • By Willing2Learn 18th Sep 19, 2:31 PM
    • 4,629 Posts
    • 4,181 Thanks
    Willing2Learn
    Are you able to get support from your university student services on the grounds of temporary severe financial hardship?


    Have you got a student overdraft? Maybe you could dip into that?
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • SidsWife
    • By SidsWife 18th Sep 19, 2:34 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    Hi, no that wasn't to you, sorry. My credit history is not good, but since taking out the credit builder it's been getting gradually better. I just hope that whatever they mean my compensating me they could maybe get my money back and i can just pay them off in smaller installments.
    • ndf9876
    • By ndf9876 18th Sep 19, 2:35 PM
    • 276 Posts
    • 136 Thanks
    ndf9876
    Maybe I'm missing something, but what I get from the original post is that you use the card for your everyday spending, then pay it off with your student loan. Is that right?

    If so, I don't understand the problem here. You get your student loan and use that, instead of the card.

    I don't understand why you need the credit card at all, unless you are spending more than you are receiving in income - in which case, the "Debt Free Wannabee" board might be the place to go next for advice.
    • SidsWife
    • By SidsWife 18th Sep 19, 2:35 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    Are you able to get support from your university student services on the grounds of temporary severe financial hardship?


    Have you got a student overdraft? Maybe you could dip into that?
    Originally posted by Willing2Learn
    I can't get a student overdraft unfortuantely, and the uni hardship fund doesnt open until October.
    • Willing2Learn
    • By Willing2Learn 18th Sep 19, 2:36 PM
    • 4,629 Posts
    • 4,181 Thanks
    Willing2Learn
    Are you able to get part-time work to supplement your income?
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • SidsWife
    • By SidsWife 18th Sep 19, 2:37 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    Maybe I'm missing something, but what I get from the original post is that you use the card for your everyday spending, then pay it off with your student loan. Is that right?

    If so, I don't understand the problem here. You get your student loan and use that, instead of the card.

    I don't understand why you need the credit card at all, unless you are spending more than you are receiving in income - in which case, the "Debt Free Wannabee" board might be the place to go next for advice.
    Originally posted by ndf9876
    I took it out as it;s a credit builder. Since having it, my credit score has increased significantly, so it was all going really well until this happened. A person I spoke to from the company 4 weeks ago told me that it was a good way of doing it and that my account was being managed really well.
    • SidsWife
    • By SidsWife 18th Sep 19, 2:39 PM
    • 21 Posts
    • 1 Thanks
    SidsWife
    Are you able to get part-time work to supplement your income?
    Originally posted by Willing2Learn
    No, I'm a single parent, and already pay out more than I can afford in childcare to cover uni time. I'm just trying really hard to finish my degree and get myself out of this situation.
    • CakeCrusader
    • By CakeCrusader 18th Sep 19, 2:58 PM
    • 1,024 Posts
    • 687 Thanks
    CakeCrusader
    Marbles is a New Day card, they also run Aqua and a couple of others, I think. They did exactly the same to me when I did a balance transfer and cleared my balance, their thought process was that I didn't need the cash as I hadn't used the card for a couple of weeks. Your options are to apply for another card, try using the MSE Credit Club, or to carry on using this one in the hope that they will increase the limit again, October's not too far away and you can apply for Uni funding then so you just need to bide your time.



    I kind of get the impression that New Day don't like it if their customers pay the card off or pay more than the minimum balance, they aren't making money out of these kinds of customers. Personally, I wouldn't touch them again with a barge pole.
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