jane
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just cancel it and get a card somewhere else |
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stress-'ead
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It's because you pay it off every month. Limits are decided by computer now so if you pay it off mr puter thinks you don't need higher limit, if you always owing mr puter thinks you need more money so raises it. Is true I asked my card company. Catalogues work in same way too. |
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philipscottbrooks
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They have done it to me also, although unlike you I have nt used my card for about a year. It was almost at it s maximum a year ago so I dedided not to use it until I had paid it off now that is almost there (and if I had wanted to I could have paid it off six months ago but decided to build up some cash in my bank account) I have received a letter downgrading my limit to nearly the basic.
I think it may be something to do with the recent report that the population of Britain is all in debt and credit card companies should act responsibley. So who would they target to put on a show so they can say they are doing something, it will be the people that affect their profits the least. People like you and me! |
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VeronicaB
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i think you should officially turn to them and ask why they've done that.. they killed your limit-the bastards:) |
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peter s
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get rid if all there customers did the same thy would be in the sh-- |
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Ragdoll_uk_98
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they have done it because you are not making them billions of pounds a year in charges and interest rates!!! i never pay my full amount and they put my limit up, its so they can get more money... and barclaycard are ********s anyways. ive had a card with them for 7 years and they must have had thousands off me in charges and interest! id pay it all off and cut it up, then post it back to them and tell them to shove it!!! and you need to get into debt to build up your credit rating, mad! |
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Bluebell
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I only have a Barclaycard too. I have had for years and years and, like you, I pay it up in full each month and only use it when I want a bit of time to pay and when it is convenient. I have never not paid it in full each month but, as yet, they have not reduced my limit. Maybe the limit has been reduced because you don't use that limit? I don't use my limit either. Maybe it's a new policy and I will be receiving a letter shortly!!!! |
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Very Sexy Vixen
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Sorry that is the way the world works i know it is sh*t but the more debt you have the more you get given the less you have the less you are given, but that is how these companys make their money with people missing payments and going over their limit, then charging them!!!!! It aint fair i know but hey........ You could phone them to cancel the card and they may ask you why and you could explain and they may increase your limit........... it won't look great on your credit score that it has been reduced!!!! I have a Virgin Credit Card and must admit they are great!!!! If you cancel that card i would recommend going to Virgin!!! I used to be like you, but then went to buy a house and it aint easy if you have no credit background!!! Good Luck xx |
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kittykazuk
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Unfortunatley, this is usually the case. Go to Barclays and tell them you want to cancel it - this may prompt them to up your limit again. If they dont , find another bank - any other glad would be welcoming for a new customer - you could probably get a lower rate too if you shop around! |
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Chasiufan
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Barclaycard sucks donkey balls anyway. If you want a card that will give you a nice high credit limit and not worry about whether or not you use it, go and get one from Egg (www.egg.com). I've had one of those for about three years with a 15,000 quid limit, which has not reduced even though the balance has never gone above 2000 quid and it all gets paid off fairly soon.
(NB I do not work for Egg; this is a personal recommendation only) |
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susie x ♥♥♥
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You are not earning them any money. You use your card sensibly but what do they get from it? They are only interested in those who owe loads through not paying in full on time, overdraughts etc. If you didnt pay promptly they would be offering you more money, not les. Ridiculous isnt it. |
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Little Bo Peep
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If you're that bothered about it then why not just get a new credit card with a different company? It's not like Barclaycard are the only credit card company out there.
Just a thought, if you don't have a debit card or cheque book then does that mean that you don't have a current account? If so then this may have been a factor in their decision? |
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Andy M Thompson
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I am SO glad that I am not the only one. Barclay Card have done this to me too. I've been a customer for 6 years or so, only had the Platinum card for a couple of years and last week I get this letter saying they've dropped my credit right down so that actually only have 70 quid left to use! I thought it was because I'm a bit naughty and some times forget to pay the bill and also because I rarely use the card. Now I don't feel picked on because it's happened to a couple of other people. As soon as I've paid it off I'm going to tell them to stick it and use my other credit card which I have through my Bank who know I can afford to pay it off!
I hope you get yours sorted to your satisfaction and thanks for asking this question - I feel better now knowing I'm not the only one! |
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klc7770
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it probably because you pay it of in full,the thing with any credit card company the love to see people go into serious dept,to the point where they cant get out of dept |
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anthony *
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hi, it's because you dont use the credit they have given you, you might have owed that amount in the past but now you have paid it off, they think you dont need that amount no more, just call them and say you might need it. |
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Lilu
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Perhaps you do not use it near to your limit every month. |
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jeff c
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its all to do with credit scoring system...as in the name its to with credit since you pay everything of you will not be on the scoring system....i know its stupid but its just the way the system works.for a month or two leave a small balance on your card making sure the interest payments are not too high and you will appear on the credit scoring system and your limit on your card should rise or just apply for a new card |
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Vicky M
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I think it is time to take a breath.
The reason they probably lowered your credit limit, was to help you out.
Id you don't use the whole of your limit, it will make your credit search worse if you wanted to apply for more credit, because you would have a higher exposure level back then, than now after they have reduce your limit |
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q6656303
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consider a sign to use it less
get another card that gives u 1% of your spending back |
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Lisa P
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Because you pay of you balance they don't like it. They like to charge you money when you pay late.... And people who spend up to their limits. Its the way of life!!! |
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Social Science Lady
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This is the first I have heard of such a thing being done by Barclay card. I do hope it is a mistake, and they do not do the same to me. I am in very much the same position as yourself,so I shall be very annoyed if they reduce my credit. Thanks for the tip off. I will get in touch with them later. I cannot do it now, because our telephone line has been down for two days. |
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Elliot Ness
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I find this very odd. I don't carry a Barclay card, but I do carry 5 other credit cards, and it is rare that they ever carry a balance, and my bank account is in the black, I do have several direct debits, but hardly ever go into my ODP. The card companies keep anking me if I want an increase. I keep declining, because I thnk 75 thousand pounds in plastic is more than I will or should ever need. I would call them and see why they dropped your limit, or get a credit statement and see if you have had something happen that you are not aware of. |
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