@asklloydsbank Llyods tsb credit limit

[linz22]

Hi,

 

I have a query about the llyods tsb platinum credit card.

 

In september i receieved mail from llyods stating i am guranteed a credit card with a minimum credit limit of £3000. I applied in november and got a response three weeks later stating iv been accepted and my credit limit has been set to £5000. Just a few days i checked my credit card and the limit was reduced to £700, i called llyods and they stated because they received some negative information from experian they reduced my credit limit as they are a responsible lender, i asked if they are allowed to do this and they said yes.

 

The only reason why i took the credit card out was because of the high credit limit i needed to make a few purchases for my house, as far as my credit report is concerned i was late with a payment for two months on my online catalogue and i have now cleared the arrears.

 

The question here is are llyods allowed to reduce the credit limit? iv only had the credit card for three weeks.

[ims21]

Hi

 

Lenders are allowed to review and amend credit limits based on information they get from CRA s and, of course, their own internal scoring system.

 

Regrettably I think there is not much you can do.

 

ims

[linz22]

Hi,

 

Just an update on this, i previouslly mentioned Llyods reduced my credit limit because they said they received some negative information from experian, now i got a copy of my credit file and credit score, There is nothing wrong with my credit file i have had this analysed by various friends and family there is no negative information what so ever, my credit score is on very good. I contacted llyods and they stated they did receive some negative information from experian but they do not know what and have asked me to send a copy of my credit file to them so they can see if it matches what they have, i would like to know if i should do this give a copy of my credit file to llyods? do banks have access to credit files when you open an account with them?

[ims21]

They will have access to some parts but not all of what you see.

 

Personally I wouldn't send by credit report to a bank.

 

ims

[linz22]

Whats parts of the credit file do you think the banks are able to see?

[ims21]

Take a look here

 

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

 

ims

[BankFodder]

I think that you should send an SAR to the bank to see what they have got on you.

 

They have a damned cheek requiring you to send further info in these circumstances.

 

Did they give you no notice of the OD reduction?

 

Now that they have reduced the OD, are they still continuing to charge you for the platinum account?

Are you able to find in the T&Cs where the guaranteeed OD is subjeect to any conditions?

[linz22]

Its a credit card and they reduced my credit limit, when i phoned a week later they said they will be sending a letter out about it which i got a week later so in total two weeks after they reduced the credit limit thats when they informed me. I have sent some parts of my credit file to them to show theres nothing in my credit file which could have sent a warning to them to reduce my credit limit just waiting to hear from them!!