If your credit limit is decreased
This usually happens because of how you’re using your Barclaycard or credit from other lenders, and from information we’re sent from Credit Reference Agencies about your credit history.
Reasons can include: going over your credit limit.
making low repayments to pay off your balance.
Why has my credit card limit been reduced?
The reasons why a card issuer would reduce the amount you can charge vary, but credit limit decreases often happen because a cardholder is suddenly seen to be at a higher risk of default.
How can I reduce my Barclaycard credit limit?
You can request either an increase or a decrease in your credit limit, just tell us what you’d like your credit limit to be and we’ll do our best to accommodate your request. To log into or register for Barclaycard online servicing click here. If you’d prefer you can get in touch with our Customer Services Team.
Can a credit card company reduce your credit limit without notice?
Credit card companies generally can increase or decrease credit limits without giving you notice, including reducing your credit limit so that you no longer have any available credit. If you no longer have any available credit, you cannot make any charges until you pay off some of your existing balance.
Does reducing your credit limit?
Lowering your credit limit can actually hurt your credit scores. The reason is that doing so increases your overall balance to limit ratio, or utilization rate. The lower your utilization rate, the less risk you represent to lenders. Therefore, it hurts your credit scores.