Lloyds TSB reducing limit to less than the current balance.

[sgs2009]

Hi,

My wife received the letter reducing the limit on her card - they've reduced it to less than the current balance - is she going to get a large bill next month or be slapped with overpayment charges?

Thanks

[maroondevo52]

Hi sgs2009,

 

I've used your post to start a new thread as the other thread was quite old, seems we are all at the mercy of the Banks when it comes to matters like this.

I'm not sure what the answer to your question is, hopefully someone will add a constructive comment.

 

Regards,

 

Scott.

[leggoman]

They did it to me too. £550 limit down to £500 balance of £511

Late payment charges for 2 months because i didn't realise they'd done it. I called customer services and played it as if it must have been a simple mistake on their part. I dont like to go all guns blazing at first.

 

Result was an instant refund from the first months charge and asked to call back after my next statement to request refund form that month. Surprisingly all went well this time.

[sgs2009]

Thanks - our situation is £3800 credit limit reduced to £2400 with £3600 balance a difference of £1200 so I'm guessing the over limit charges are going to be high - which of course we cannot afford. A good way of getting extra money for them. I'd rather they just cancelled the card to prevent any more spending and let us pay the balance off in monthly stages.

[leggoman]

Have you actually spoken to them yet? If you haven't you must because it could be a mistake as in my case. Maybe post their responce here?

I find what they have done to you very disturbing. I don't have any expertise on this although i'm pretty sure they are acting wrongly. This forum I'm sure will have some good quality answers.

[sgs2009]

I'll contact them and see what they have to say - I'll keep the forum updated.

[maroondevo52]

I'll contact them and see what they have to say - I'll keep the forum updated.