Aquacard credit limit reduced for no good reason

It's a combination of risk, usage and their own exposure.

It's very common, so nothing to worry about. Certainly nothing reptilian, unless you believe yourself to be a mouse.

Yep me too, totally understand it as I had a £5700 limit reduced to £4400 but only ever maxed out card to £2000 maybe once in 5 years, most other times £400 average a month, I have lots of cards and credit available so in the grand scheme it is not an issue, they want to reduce risk/liability or give it to other customer who may use it more that’s fine with me.

If you want to try and get it back up just contact them, explain your reasons maybe future high purchase and see what they say.

Suspect more companies will do this as their own needs change. Having a good mix of cards/limits promotions and facilities allows people to ride times such as these.

John

vonsworld wrote: »

Is it just a case that because I am making little profit for them they are behaving like reptiles and reducing my limit?

I have other credit cards which I also pay off in full, a couple of them have 5 times the credit limit of the aquacard, and they have never acted by reducing my limit. In fact I have held credit cards for 30 years and have never had a limit reduced because I am not using the card enough.

What do you think?

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Certainly not anything profit related or they would have closed it.
If your not using it much, then be thankful that they are taking a positive step and reducing your risk exposure.

Might be worthwhile dropping some of the cards if you are not using them. You will see more of limits reduced as card provider look to reduce their risk exposure.
Regulator is looking at things like this. After seeing so much debt some people get into.

Sometimes there's no rhyme or reason to what they do - I've had an Aqua card for about a year - Use it often - sometimes into 4 figures - always clear in full by direct debit - never missed a payment - never late - never paid a penny in interest. The card is run by NewDay - who also operate a number of other cards. I applied for an Amazon platinum card - also by NewDay (APR 21.9%) - got accepted online - the next morning in the post I received a letter from Aqua telling me that due to my recent activity they were increasing my APR by 5%. That letter would have been sent prior to me making the Amazon application - so on one hand - due to my awful behaviour of paying everything in full for a year and not paying interest - it was being put up 5% but on the other hand - welcome to my new amazon platinum card at 21.9% interest. I don't think sometimes their left hand knows what their right hand is doing.