Jump to content


Barclaycard limit reduction


sticky80
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4981 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi

Not sure if anyone can help or if i am in the right place....

 

Was my fault to start with, but I paid £1000 on to my Barclaycard by mistake, meant to pay it in to my joint account for Christmas shopping, but thought it would be ok, because i was just about within my limit so thought I'd have £1000 clear to spend.

 

I phoned up to check the balance and the automated thing said i had £400 to spend, i held to speak to an advisor and was told that my credit limit had been reduced to £1400, (it was £2000). The payment went in on 3rd Dec and they reduced it on 6th Dec.

 

They said a letter had been sent to me on 7th November saying my limit would be reviewed in 3 months, which would be February.

 

So my arguement is can they reduce my limit without telling me, or two months before they apparently told me, and would they have reduced it if I hadn't put this money in? And is there anything I can do to either get the transfer put back or the limit put back to £2000?

 

 

Thanks

 

Stacey

Link to post
Share on other sites

Hi

I tried ringing again today but was told they couldn't and that they reduced it because they are 'responsible lenders'.

 

They have passed it to the complaints department but it could take up to 21 days, i said thats not good enough but they just told me thats worst case scenario and it shouldnt take that long but they have to inform me.

 

Am stuck now and very frustrated!

 

As far as i am aware they have to give notice before they reduce and not after?

 

Thanks

 

Stacey

Link to post
Share on other sites

I can only suggest you call them again and ask to speak to a supervisor.

 

Explain that the money would NEVER had been paid into BC had you been adequately warned of the coming reduction in your credit limit. To reduce the limit just AFTER you paid in such a large amount is totally unfair and unreasonable.

 

Tell them they had a duty to warn you of the limit reduction and that you'd like the limit to be put back to the £2K.

 

The limit reduction MUST be in response to the amount paid in - otherwise you'd have been put over your limit by their action alone.

 

Try being pleasant first, then firm, and angry as last resort as it'll get you nowhere. INSIST on starting with a supervisor.

 

Slick

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

Link to post
Share on other sites

Im not suggesting this applies to you, but its worth a read.

 

 

 

 

Sunday 09th of December 2007

 

Barclays to announce new strategies against credit card abuse

 

 

More stringent credit controls on Barclaycard are expected to be announced when its parent company, Barclays bank , releases its annual report next week. Since the beginning of 2005 Barclaycard has cut some cardholders’ credit limits and rescinded their ability to borrow cash against their credit card. As many as 330,000 of Barclaycard’s 11 million customers have been affected by these actions. In addition, the card has been rejecting up to 50 percent of new card applicants and has more closely monitored the credit card use of its existing cardholders.

These initiatives come as the credit card company had to write off £1.57 billion in bad debts in 2006, 44 percent more than in 2005. Barclays and Barclaycard are not the only lenders with this problem. In the first half of 2006, UK banks collectively lost £3.3 billion in bad debts. This rising tide of defaults has put banks in the position of having to do something as the bad debts have begun to affect profits, especially as they have been criticized for making it much too easy for customers to go into debt. Many credit card providers have, in the past few years, raised credit limits without customers requesting it and sent cardholders blank checks that make it easier to draw on their credit.

In its efforts to more closely monitor credit activity, Barclaycard has begun to pay more attention to patterns of behavior by their cardholders, noting it when they take large cash advances on their credit limit, only make the minimum payment each month on their bill, or when they miss payments completely. It has also begun to access credit reports on problematic cardholders to see if they are accumulating debt aside from that on their Barclaycard account. When they reduce a problem cardholder’s credit limit, they warn the customer that they are doing so, but cash withdrawal privileges are halted without warning to the cardholder.

I Wish you everything you wish yourself.

 

NatWest Claimed £1,639. Accepted £1,344.

Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.

Barclays 1 Claimed £1,260. Won by default. Paid in full

Barclays 2 Claimed £2,378. Won by default. Paid in full

Birmingham Midshires. Claimed £2,122. Accepted £2,075.

Link to post
Share on other sites

thanks....will try phoning again....fet a bit defeated on the last call, but will try again now i feel a bit more positive!

 

oh yeah, and they stopped me withjdrawng cash too, not that i ever did!

 

stacey

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...