September 2, 20223 yr Today received SMS from Halifax Bank that they have, with immediate effect, reduced my credit limit to £500. It had previously been £10,000 for several years. I've done nothing to offend them! Anyone else received similar?
September 2, 20223 yr 3 minutes ago, blackcab said: What was your average monthly spend? It's not usually about spend, in the past I've had different cards increase my limit and I didn't ask for it or spend justify it
September 2, 20223 yr Author 1 minute ago, scubascuba3 said: Didn't you tell them you're in Thailand? no change to my 10k credit limit I did previously, but switched back to U.K. address in June and already had a U.K. virtual mobile phone number upon my account.
September 2, 20223 yr I have from Lloyds bank received the same. Not much use if like me you work overseas and keep the card in case you need a quick exit from the country. Quick exit as in the case of civil unrest or similar.
September 2, 20223 yr Just now, The Fugitive said: I did previously, but switched back to U.K. address in June and already had a U.K. virtual mobile phone number upon my account. I'm confident it's connected, once they get wind you're abroad it scares the horses
September 2, 20223 yr Author 4 minutes ago, blackcab said: What was your average monthly spend? That could be it! I took out a Chase current and savings account in June and have been using their current account exclusively because it presently gives 1% cash back.
September 2, 20223 yr 1 minute ago, The Fugitive said: That could be it! I took out a Chase current and savings account in June and have been using their current account exclusively because it presently gives 1% cash back. It's not that, I'm spending less than £50 a month on my card
September 2, 20223 yr I reckon pretending to live in the UK and using a "virtual" phone number probably did it. Lucky it hasn't been cancelled altogether.
September 2, 20223 yr Last year Barclays did a similar thing across its customer base: https://www.which.co.uk/news/article/barclaycard-reduces-credit-card-spending-limits-your-rights-if-youve-been-affected-akW9E7e8H81H What with the spike in inflation and credit card debt in the UK rising at its fastest annual rate in 17 years, it might just be that your credit card company is derisking itself as much as possible. Don't forget that credit companies have different appetites for risk at different times. Perhaps they are trying to reduce future non performing loans before they happen, and you just got caught up in the changes.
September 2, 20223 yr 35 minutes ago, The Fugitive said: a U.K. virtual mobile phone number upon my account. What is that? ????
September 2, 20223 yr 35 minutes ago, The Fugitive said: That could be it! I took out a Chase current and savings account in June and have been using their current account exclusively because it presently gives 1% cash back. No, 2-3 months wouldn't effect it.
September 2, 20223 yr Popular Post Maybe try calling Halifax and ask them to explain. Had the same thing with NatWest a couple of years ago, called them and they explained that as I had not used the card for a considerable time it was company policy to reduce the credit limit to the minimum amount to limit exposure to fraudulent activity. After I explained my situation (working overseas, need card for any emergency situations) they reinstated my original credit limit.
September 2, 20223 yr 1 hour ago, scubascuba3 said: I'm confident it's connected, once they get wind you're abroad it scares the horses It is more to do with activity on the account. I was called into see the bank manager when they realised I was using a postbox address. I explained the situation and he was ok with it as long as my pension was paid into the account. Age is also a factor. HSBC cut my limit from £12K to £2K shortly after my 65th birthday, that was well before the address issue.
September 2, 20223 yr Author 1 hour ago, Chris.B said: What is that? ???? A VOIP (Voice Over The Internet Protocol) service. I subscribe to 'VYKE'. For £12 GBP per annum you can rent a virtual mobile telephone number with a choice of several Countries. Enables you to receive/make texts and voice calls using your mobile data or your Wifi connection. So no more roaming charges or having to change your 'phone number. Some people use them to make others believe they are physically in that Country. However, technology exists to reveal whether your number is real or virtual.
September 2, 20223 yr Author 1 hour ago, Upnotover said: I reckon pretending to live in the UK and using a "virtual" phone number probably did it. Lucky it hasn't been cancelled altogether. That could still happen in the future of course. However, at the moment, Halifax Bank permit you to have an abroad address and will send renewed/replacement debit and credit cards abroad.
September 2, 20223 yr Author 2 hours ago, Cardano said: Maybe try calling Halifax and ask them to explain. Had the same thing with NatWest a couple of years ago, called them and they explained that as I had not used the card for a considerable time it was company policy to reduce the credit limit to the minimum amount to limit exposure to fraudulent activity. After I explained my situation (working overseas, need card for any emergency situations) they reinstated my original credit limit. Many thanks and top notch suggestion! I spoke to Elizabeth and Pamela at Halifax Customer Services. As you rightly advised, the reason for reduction was lack of recent use. It is their standard practice to reduce to £500 in case I had decided to 'abandon' the card and it fell into the wrong hands. I had to 'apply' for an increase in credit limit there and then over the 'phone by answering several questions. Unfortunately, my application was instantly rejected because my limit had only just been reduced. Apparently, there is a six months waiting period before you can apply for an increase following a reduction. I do have a right of appeal but I would have to do so in writing.
September 2, 20223 yr 26 minutes ago, The Fugitive said: Many thanks and top notch suggestion! I spoke to Elizabeth and Pamela at Halifax Customer Services. As you rightly advised, the reason for reduction was lack of recent use. It is their standard practice to reduce to £500 in case I had decided to 'abandon' the card and it fell into the wrong hands. I had to 'apply' for an increase in credit limit there and then over the 'phone by answering several questions. Unfortunately, my application was instantly rejected because my limit had only just been reduced. Apparently, there is a six months waiting period before you can apply for an increase following a reduction. I do have a right of appeal but I would have to do so in writing. Interesting, i keep mine active by using for Lazada purchases
September 2, 20223 yr Author 7 minutes ago, scubascuba3 said: Interesting, i keep mine active by using for Lazada purchases As you should. None of the COD nonsense! It was my own fault. Mesmerised by my shiny new Chase and Zopa cards I neglected my faithful Halifax Clarity.
September 2, 20223 yr 4 minutes ago, The Fugitive said: As you should. None of the COD nonsense! It was my own fault. Mesmerised by my shiny new Chase and Zopa cards I neglected my faithful Halifax Clarity. that's it, need to keep them all active, I put £ purchases\transfers through Santander and Starling
September 2, 20223 yr No change to mine (yet) and it's not been used since April as I have a more preferable option. I'll try and make a small purchase soon.
September 2, 20223 yr Author 1 hour ago, treetops said: No change to mine (yet) and it's not been used since April as I have a more preferable option. I'll try and make a small purchase soon. May be a good idea in view of what I was told!
September 3, 20223 yr Belated reply to Op..."we,ve changed the overdraft limit on your account ending **** to £0 " from Barclays yesterday afternoon.
September 3, 20223 yr Author 10 minutes ago, keithsimmonds said: Belated reply to Op..."we,ve changed the overdraft limit on your account ending **** to £0 " from Barclays yesterday afternoon. Don't worry Sir, all info appreciated thank you. Looks as if our banks are tightening up everyway they can!
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