A letter arrived from the issuer of a credit card I use very little.
Halifax tell me they've noticed I've not been using the credit limit, so they intend to reduce it to £2,000.
I don't think I've used the card, let alone the limit, for six months or more.
Credit card companies have been given stick in the past for throwing money at customers.
I reckon reducing the credit limit on a little-used account is sensible.
What do you think?
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You won't be surprised to learn that it's probably more to do with increased capital requirements on banks, rather than responsible lending.
Facilities granted, whether used or not, have to be taken in to account when working out the minimum capital needed. So reducing unused limits helps them either to reduce the capital they must hold, or make other loans elsewhere.
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Responsible lending - surely not - Manatee
