Customers angry over credit card limits

Many customers in the UK have been outraged after discovering that their credit card companies have slashed the spending limit on their cards without even informing them first.

Credit card firms have made the move as party of a nationwide cull to cut the limits on customers’ accounts.

In many cases credit card holders have found that their limits have been cut to just £100 over their existing balance, and because the card companies did not inform the customers of this change many have been humiliated after trying to use their cards unsuccessfully.

One customer, a solicitor, said that his credit limit had been cut from £5000 to just £700.

He said: ‘I had to endure the humiliation of having it declined twice in B&Q. There was a long queue behind, I was embarrassed, but luckily had other cards with which to pay it. I have had the card for 10 years and, surprise, surprise, I’ve never missed a payment and always paid off the balance at the end of the month. But what really made me angry was that after I asked them why they didn’t give me some notice, they said that if they did that, I could just rush out and spend wildly in an effort to keep my balance up. I found that incredibly insulting.’