www.iva.co.uk

Well in line with Egg Credit Card Services, American Express have following suit - but with only 4 days notice, compared to Egg's notice of at least one month.
The reduction of the Credit Limit and the withdrawal of the facility to access Cash from ATM's.
Why?? "we consider a number of factors including account status, the amount of available credit you are using and credit rating".
If only these Card issuers would come clean and just say "We underestimated you - we asumed that when we offered a Low Balance Transfer Rate which you took advantage of, you would then make numerous purchases and ATM withdrawals, in order that we could "fleece you"!! Because you haven't played the game to our rules, we are going to take our ball back.
As was the case of Egg, I made payments on time and my Credit Rating is flawless.
So I will take advantage of these Financial Institutions, just as they do to unfortunate people who fall for their Special Offers and also use their Cards for purchases and ATM withdrawals.
Has anyone else had their letter from American Express or am I unique??

Bad isn't it and apparently it's mainly people that have credit histories like yours cos they don't make any money out of you hey

(

yep i had egg close accounts and amex and others reduce limits and stop cash withdrawals. thats why have now pursued the iva route and stopped paying them

My husband had a Barclaycard, and even though payments were made on time, he had his credit limit lowered and his right to cash withdrawal removed (he had never used that anyway).

He never had a separate letter though, it was all on his statement.

wish lloyds had done that with hubbys..

Who knows one day, I may well go down the road to an IVA if things get tough. If they do, I hope Egg and American Express are amongst my Creditors. But why bombard the public with those Low Balance Transfers, purely as a vehicle to catching the unsuspecting on the hook? Totally dishonest, which is what they probably think of me taking advantage of their Special Offer!!

I suppose it's a way of protecting themselves, and the creditors too, in the current economic, credit crunch, climate.

Debbie

AMEX did me a favour to be honest - they reduced my credit limit and stopped withdrawals after I was forced to get cash from the card to pay for a new boiler. I'm glad they did as I panicked and said enough was enough. I couldn't see how I could manage without the cards. I feel so much better now I am not relying on cards, even if the IVA is not approved there is no turning back I will have to take another route. I will deal with that if it happens. Good luck all XX

It was one of those offers that pushed me over the edge - I had 0% balance transfer for a year on my Virgin (MBNA) card and when that rate finished they put it up to 27.9%! I'm glad now, as it meant I had to face up to my problems, but at the time it seemed like the end of the world.

Skippywhere's Harry.

Oh it is Harry isn't it - having a bit of a mare of a night. X

OH no Where's my bunny?????

I can see your bunny but Harry is still missing!

virgin reduced me from 15000 t0 4500 in a stroke an after 0% finished put me upto 26 then from this month it is 34 an they dont know yet that i aint paying them anymore as i not defaulted on them yet

I can see the bunny and Harry - and have been able to all night, so are there gremlins on some people's computers and not others?

Still giggling about Kermit, Skippy?

The only Harry I can see is the one asleep on the rug in front of me!

I think Harry's trying to convince us to dig him his own pond - he's already brought home the pond weed, and now a couple of frogs! I'm worried I might find a koi carp on the living room floor next!