The Fugitive Posted September 2, 2022 Share Posted September 2, 2022 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? Link to comment Share on other sites More sharing options...
blackcab Posted September 2, 2022 Share Posted September 2, 2022 What was your average monthly spend? 1 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 2, 2022 Share Posted September 2, 2022 Didn't you tell them you're in Thailand? no change to my 10k credit limit 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 2, 2022 Share Posted September 2, 2022 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 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 2, 2022 Author Share Posted September 2, 2022 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. Link to comment Share on other sites More sharing options...
Photoguy21 Posted September 2, 2022 Share Posted September 2, 2022 (edited) 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. Edited September 2, 2022 by Photoguy21 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 2, 2022 Share Posted September 2, 2022 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 1 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 2, 2022 Author Share Posted September 2, 2022 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. Link to comment Share on other sites More sharing options...
KannikaP Posted September 2, 2022 Share Posted September 2, 2022 Nationwide, Barclaycard & Virgin Credit Cards all working OK for me. 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 2, 2022 Share Posted September 2, 2022 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 1 Link to comment Share on other sites More sharing options...
Upnotover Posted September 2, 2022 Share Posted September 2, 2022 I reckon pretending to live in the UK and using a "virtual" phone number probably did it. Lucky it hasn't been cancelled altogether. 1 1 Link to comment Share on other sites More sharing options...
blackcab Posted September 2, 2022 Share Posted September 2, 2022 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. 1 Link to comment Share on other sites More sharing options...
Chris.B Posted September 2, 2022 Share Posted September 2, 2022 35 minutes ago, The Fugitive said: a U.K. virtual mobile phone number upon my account. What is that? ???? 1 Link to comment Share on other sites More sharing options...
Chris.B Posted September 2, 2022 Share Posted September 2, 2022 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. 1 Link to comment Share on other sites More sharing options...
Popular Post Cardano Posted September 2, 2022 Popular Post Share Posted September 2, 2022 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. 3 1 Link to comment Share on other sites More sharing options...
sandyf Posted September 2, 2022 Share Posted September 2, 2022 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. 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 2, 2022 Author Share Posted September 2, 2022 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. 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 2, 2022 Author Share Posted September 2, 2022 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. 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 2, 2022 Author Share Posted September 2, 2022 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. 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 2, 2022 Share Posted September 2, 2022 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 1 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 2, 2022 Author Share Posted September 2, 2022 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. Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 2, 2022 Share Posted September 2, 2022 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 1 Link to comment Share on other sites More sharing options...
treetops Posted September 2, 2022 Share Posted September 2, 2022 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. 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 2, 2022 Author Share Posted September 2, 2022 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! Link to comment Share on other sites More sharing options...
keithsimmonds Posted September 3, 2022 Share Posted September 3, 2022 Belated reply to Op..."we,ve changed the overdraft limit on your account ending **** to £0 " from Barclays yesterday afternoon. 1 Link to comment Share on other sites More sharing options...
The Fugitive Posted September 3, 2022 Author Share Posted September 3, 2022 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! Link to comment Share on other sites More sharing options...
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