where has the credit gone?

[winterblues25]

I’ve usually never had a problem being accepted for credit but just tried to increase my credit limit on my card recently and was refused, new balance transfer card and loan applications refused, credit score good, even the balance transfer offers on my credit card which I’ve had for years have been withdrawn??

Being smug about how well off you are while in debt?

This is one of the oddest threads.

OP… you can carry on here posting very long detailed posts about how healthy your financial situation is when to the overwhelming majority of us… we are left scratching our head. However what we think is irrelevant.

The key is…. It’s not just us that don’t think you’re being financially sensible. The bank agrees with us. Your bank.

Absolutely no one thinks the OP has any reason to be smug. Aside from the OP.

You’ve accused the OP of being rude. Pot / kettle?

Particularly as OP has been very patient with all the people being pretty unpleasant to her.

I think the op is the one being unpleasant to people!

Your comprehension of understanding the facts is clearly somewhat lacking, the bank has not reduced my credit limits and we could easily clear
the debt tomorrow.
Yes indeed what you think is irrelevant as I will continue to do what has worked and what I feel will best work into the future for myself and my family and take advice from people who I feel have a useful perspective to offer

They have not reduced your limit

They have made the interest rate prohibitively expensive to increase

Hence… you starting this thread

Yes indeed what you think is irrelevant

100%

What your own bank thinks?

100% relevant

Driven out of defensiveness and probably… worry.

So I wouldn’t focus on that. I’d prob be the same in the OP’s shoes (especially if they are the shoes that won’t last 6 months!)

Do you?

OP has been patronised, called stupid, told she’s lying. Someone even asked why she had a child she couldn’t support.

I agree. She wasn't asking for financial advice

I would not say 13% is prohibitively expensive for us given our current circumstances, I started this thread as I just wanted to gain some knowledge regarding upcoming credit availability trends and interest rates, I’m sure I’ve said this to you before, I’m getting quite bored of you now 🥱

Started out as They’re not as just wanted to transfer a balance so now be stuck paying 24.9% rather than 4-5%

but now we’re on 13%

ok

PS and 13% would be bloody awful prospect personally!

If there is an opposite to an online troll, it’s certainly you 💐

I did clarify that earlier and you obviously saw that clarification as you responded to the post shortly after

The banks haven’t reduced your limits, no.

Just stopped you point blank from getting any more credit.

just tried to increase my credit limit on my card recently and was refused,

So the 24.9% figure… just plucked from thin air?

Probably rather like when you buy a house, the bank won’t lend you an unlimited sum to upgrade or buy another house. We’ve used a portion of our earnings to invest in our pensions and I’ve reached the limit of what the bank would lend to anyone on my income etc, if they disapproved or thought me a substantial risk they would have reduced my credit limits, which they have not

So why don't you clear the debt, then you won't pay any interest? And where does your partner fit into this, can't he do the washing, get the school clothes ready, load the dishwasher?

So to be clear, you are totally on board with the bank’s logical stance?

and as for…

I don’t use credit to buy luxuries or holidays, just the everyday essentials, have done for years.

Does that mean you don’t have and won’t have for the foreseeable future any luxuries or holidays?

Regardless of anything else, there is no way the bank would be getting a penny of interest from me to buy gloves especially if I had a car I could downsize and clear the debt immediately.

I’ve not had a problem even though I don’t want anything. Perhaps different companies are doing different things. 🤷‍♀️

Thanks for clarifying about the pension @winterblues25

Is it 6.5% on top of the amount set by your employer or 6.5% as a whole?
I pay 8.5% into mine

Yes possibly, I’ve still got several thousand available in credit and that hasn’t been withdrawn and my existing interest rates haven’t been increased, just the balance transfer and loan offers that were showing on my app a few days ago have disappeared, was just hoping to move a balance that will be coming to the end of its original balance transfer offers. (CAVEAT - to anyone reading this post in isolation - I DO NOT WANT OR NEED DEBT OR BUDGETING ADVIDE)