To be pissed that Barclaycard decreased my credit limit?

[BusyGreyCat]

Got a notification today that Barclaycard has decided to lower my credit limit, and honestly, I’m pretty annoyed. I haven’t missed any payments, and my credit score is fine, so this feels like it came out of nowhere.

AIBU to think it’s unreasonable for credit companies to make changes like this without any warning? Has anyone else had this happen recently? I get that they’re trying to manage risk or whatever, but it feels like a punishment when I’ve done nothing wrong.

What would you do in this situation? Any tips on getting the limit restored, or should I consider moving to a different provider?

Data that goes in is fact
Number that comes out is fiction.

😂

I took out a Next store card earlier this year just to get the introductory offer on your first purchase. They gave me a £4k limit which I thought was ridiculous.

I paid the purchase off before it was due and haven't used it since.

They write to me the other week to say they were sorry but they were reducing it to £2k. Which is still ridiculous, but is of no matter because I destroyed the card straight away anyway.

So, maybe there is some sense in you not using the card, OP?

I rarely use my Barclaycard. Have an excellent credit score snd it’s been reduced twice this year.

A lot of credit card companies do this if you are near your total affordability limit (all debt, including mortgage). Money Saving Expert has plenty of threads about it.

Not the case for me. My remaining mortgage is less than my annual salary. I have no car or other loans. No debts whatsoever other than the mortgage. My husband earns twice what I do, so the household income is nowhere near risky.

Something has gone wrong in their algorithm for them to slash me from over £11k to £500, which is less than I had as a student over 30 years ago!

They did the same to me - down from £10k to £250. I very rarely used my Barclaycard and paid it off in full when I did so, after a conversation in which no reason was forthcoming, I closed the account and cut up the card.

Barclaycard have recently stopped my husband’s card without any notification whatsoever. Only found out when I tried to pay for the food shop. He’s been a Barclays customer for years but having recently been made redundant we’ve had to use it less. Ironically, we could really do with it as a back up right now but because he isn’t earning much, they don’t seem to be interested. Never had a late payment etc.
It’s one of many problems we’ve had with Barclays so I’m trying to persuade him to move his account. They have zero customer focus.