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[Rangie]

Anyone else on here had their credit limit reduced by Barclaycard? Mine was £11,000 reduced ten days ago to £250 not even enough to fill the Range Rover twice, apparently this has happened to thousands of their customers . You can apparently appeal and give them all your income details bloody cheek ! So I contacted Nationwide who we also bank with card arrived within 48 hours and immediate £10,000 limit, I always pay my card in full every month no valid reason from Barclaycard for credit reduction perhaps because they were not making any money from me.😃

[STEMO]

20 pages on it here:

https://forums.moneysavingexpert.com/discussion/6259364/barclaycard-limit-reduction-post-covid/p1

[YZ250]

I received a letter from Barclaycard saying that as my account hadn't been used for a while, for security reasons they were going to reduce the limit. All I had to do to avoid this was to send a text with a code and the word KEEP. That's it, job done, my credit limit of £14,000 remains the same.
To be honest, the only time I use my Barclaycard is on a cruise holiday, where the ships are cashless so you have to book onboard expenditures to a card. Covid has put that on hold for the foreseeable future for me so I can see why Barclaycard would be glad to get rid of me, as my balance has been zero for donkeys years so they make nothing out of me.

[Doctor Gollum]

If you have one and don't use it, then you don't need one.

If you have one and rely on it then you shouldn't have one.

I can see why businesses use them, although the above still applies, in the same way that leasing vehicles/equipment makes some limited sense.

That said, debt free business that do use credit don't go bankrupt. 

[tigers_gonads]

I take it your a good boy like me and always paid the balance in full on time 
I think you will find that most companies are trying to get rid of those customers who NEVER pay charges.

I used a Marbles card to help rebuild my credit history after years of been a daft cee you next tuesday with money / bankruptcy.
Started off with 1200 quid limit.
Always paid it off on time so the craft buggers dropped my interest rate and more then doubled my limit.
After a couple of years of no charges, it was dropped down to 500 quid 

Doesn't bother me if i'm honest, It does the job if I need another 50 days to save up and i've got a PayPal credit which gives 4 months interest free if I really have to buy something and need a little longer 
With my Marbles card the default for PayPal anyway, as long as I use my brain, I get upto 6 months interest free on everything   

[Mr Skrunts]

I have one for online payments via Ebay & Amazon plus Paypal, Most items give me the insurance cover for which I have only ever had to use once.  Plus I pay the balance in full.

[Field Marshal Dr. Opti]

I have a Barclaycard, along with  another 25 or 30 cards, many of which I rarely use.

All my card have a £10000+ limit.

[Rangie]

We used ours for virtually everything we purchase spending £18-25,000 a year on average ,even bought our caravan on it in 2012 for £8,500 with it. Have an excellent credit score and no debts £250 limit was useless to me , Nationwide know exactly what goes in our account every month and accepted our business immediately with a good limit, will even close our bank account with Barclays now as well.

[Andy B]

.....

If you have one and rely on it then you shouldn't have one.

 .....

How do you define 'rely on' .... I have 2 credit cards, both paid off in full each month, but credit cards are useful to use & give a degree of protection when used

[Field Marshal Dr. Opti]

We used ours for virtually everything we purchase spending £18-25,000 a year on average ,even bought our caravan on it in 2012 for £8,500 with it. Have an excellent credit score and no debts £250 limit was useless to me , Nationwide know exactly what goes in our account every month and accepted our business immediately with a good limit, will even close our bank account with Barclays now as well.

Yes...£250 is piss poor. It does seem a strange thing for the banks to do.

[Andy B]

....
 will even close our bank account with Barclays now as well.

Good luck closing your Barclay's credit card .... it took me a few attempts to close mine, and even then I had to put my foot down to do so.

[Field Marshal Dr. Opti]

.....

If you have one and rely on it then you shouldn't have one.

 .....

How do you define 'rely on' .... I have 2 credit cards, both paid off in full each month, but credit cards are useful to use & give a degree of protection when used

Yes....used in a responsible manner credit cards can be a useful tool.

However, buying everything you see  on plastic will end in tears.

[Doctor Gollum]

.....

If you have one and rely on it then you shouldn't have one.

 .....

How do you define 'rely on' .... I have 2 credit cards, both paid off in full each month, but credit cards are useful to use & give a degree of protection when used

Using it when you don't have the 'cash'* available.

*cash being a catch-all for non debt balances.

If you're always in your overdraft and using a credit card for day to day living then you're basically donald.

[Rangie]

....
 will even close our bank account with Barclays now as well.

Good luck closing your Barclay's credit card .... it took me a few attempts to close mine, and even then I had to put my foot down to do so.

.   

All done & dusted found it very simple to do .

[Doctor Gollum]

https://www.visa.co.uk/pay-with-visa/security/zero-liability.html

No need to use a credit card for payment protection. You can just as easily maintain a balance in a dedicated account f you wish to keep a separation between online spending and your main account(s).

The only real reason to have a credit card is to be able to say that you have one.