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Old 16-10-2008, 17:38   #1
target
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Marbles adjusted my credit limit - maybe they're feeling the crunch?

I've had a marbles card for several years with a £10,000 limit that I admit I never spend more than several hundred on and always pay off.

Today I got a letter from them stating that my recent spending shows my limit is higher than my requirements and they're going to reduce my limit to... £200!? wtf? There's £450 on it right now. I sent them a sarcastic email about relying on computers rather than people with common sense to evaluate their credit limits.
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Old 16-10-2008, 18:16   #2
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They are owned by some stupid sub-prime lender though so these kind if things do not suprise me. Mine is still the 7500 its been for years and I have around 1k on it at the moment (Marriott had an offer wher eif you pay by visa you get extra points ) so hopefully they will not cut mine. I'm cancelling it after this month anyway as I have a new (Marriott) Visa card for places that do not take American Express Platinum Card
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Old 16-10-2008, 18:48   #3
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I've had a few of my cards do this to me lately.
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Old 23-10-2008, 08:23   #4
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Got a letter back from Marbles - thanks for your email but no we won't reconsider. Changed all my pre-orders to my other card and will cancel Marbles then!

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Old 23-10-2008, 10:10   #5
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expect this what they wanted you to do, very low usage and pay full balance off = your not profitable for them.
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Old 23-10-2008, 10:35   #6
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Yeah, I cancelled my Marbles account yesterday and had no asking me to stay speach, I pay off in full every month and do not use it very often. I moved to a different visa card so have 1 visa and 1 amex card which should do me now.
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Old 23-10-2008, 10:46   #7
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Quote:
Originally Posted by chrisjm View Post
expect this what they wanted you to do, very low usage and pay full balance off = your not profitable for them.
Hmmm they would still have been getting transaction fees from the retailers / service providers the card was used at though. Interest / late payment fees are not the only way that credit card companies make money.
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Old 23-10-2008, 10:58   #8
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Yes, but if you are a low user they will not get much in the way of fees from your purchases and the cost to run the card is probably more than they make on average?
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Old 23-10-2008, 20:13   #9
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Theve just closed my CC account after I hadnt used the card for a year (I actually never used it to purchase anything, just did a BT to it ages ago)

Im surprised it took them that long to realise.
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Old 24-10-2008, 17:23   #10
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Theve just closed my CC account after I hadnt used the card for a year (I actually never used it to purchase anything, just did a BT to it ages ago)

Im surprised it took them that long to realise.
Its probably to do with the way the banks financial accounts are being studied, and perhaps how much they hold in reserves for lending on credit cards.
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Old 24-10-2008, 17:29   #11
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Theve just closed my CC account after I hadnt used the card for a year (I actually never used it to purchase anything, just did a BT to it ages ago)

Im surprised it took them that long to realise.
They did the same to my OH about a week ago.
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Old 24-10-2008, 17:34   #12
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I think Halifax have changed my limit 6 times over the past 2 years (4 cuts, 2 rises) without rhyme or reason.
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Old 24-10-2008, 17:46   #13
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First Direct did a right number on me.

I moved to the US a few years back, so did not have a paycheck going into my FD account but did transfer money there to pay bills etc i had in the UK. Well, my lovely internet bank decided to write to me instead of emailing me or sending me a message via the message system when you log into your account.

Long story short, they withdrew my credit and demanded payment. They shut off my account, which meant my card payments were not getting paid, which means i could not transfer my balance, which i means i could not pay them off right away. They totally screwed up my credit. Use to love that bank, now i loath them.

And to top it all off, i could not get my login info for my A&L account because i had to go into a branch to get it since i had the account for so long which is a little hard when the nearest branch is 4000 miles away.

Very annoying and frustrating situation.
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