Moving Credit Card (halifax closure) - Credit Limit

james1234

Due to Halifax closing down I've had to open a new credit card account, I chose AIB, but they're refusing to match the credit limit of the Halifax card.

Funny thing is I originally moved my credit card (Visa) from AIB to Halifax, and Halifax obliged by matching the previous credit limit, but now AIB are not willing to do the same, despite having been with that bank for more years than I care to remember.

Anyone else have similar problems? Any other options out there?

Also being charged double for stamp duty, cheek of Halifax to charge stamp duty a few weeks back even though they're closing!!!

andreab

My mam had the same problem with the stamp duty and she rang her new credit card people (TSB) and they told her to keep the documentation showing she paid with Halifax and they would organise to refund her for the second lot of stamp duty.

She picked TSB cause she was woking out better off with them

BuffyBot

Due to Halifax closing down I've had to open a new credit card account, I chose AIB, but they're refusing to match the credit limit of the Halifax card.

Funny thing is I originally moved my credit card (Visa) from AIB to Halifax, and Halifax obliged by matching the previous credit limit, but now AIB are not willing to do the same, despite having been with that bank for more years than I care to remember.

Anyone else have similar problems? Any other options out there?

Hardly unsurprising, considering the current climate. I too had an AIB card prior to Halifax, with a ridiculously high limit - didn't expect them to match it, or even my Halifax card's limit this time round, and unsurprisingly they didn't.

Also being charged double for stamp duty, cheek of Halifax to charge stamp duty a few weeks back even though they're closing!!!

They have no choice, it's the law. When you close your account, you get a letter for your new provider which stops them from charging it to you again.

james1234

andreab wrote: »

My mam had the same problem with the stamp duty and she rang her new credit card people (TSB) and they told her to keep the documentation showing she paid with Halifax and they would organise to refund her for the second lot of stamp duty.

She picked TSB cause she was woking out better off with them

Looks like your mam's lucky! AIB won't refund, just won't charge me duty next year, wishful thinking that they think I'll still be with them next year!

Should have gone with TSB myself, they seem a much friendlier bunch! Thought being an AIB customer for oh, 20 odd years, might have counted for something, and having always paid my CC bill on time too with them might have counted for something too, but I just got a standard response that they'll review my credit limit after 6 months...

I hear ya, Buffybot, but having a credit time 6 times lower than before just really sucks, that's all!

pow wow

I dunno....my sister has her everyday banking with TSB (two salaries coming in, no credit commitments beyond mortgage, no issues etc etc.) and they offered her a really low limit in her credit card when she moved from Halifax. They wouldn't entertain any matching of the limits.

Times we live in I suppose.

james1234

:mad:rant:
So much for the banks increasing availability of credit to help get the economy moving... No wonder consumer spending is at all time low, if there's STILL no credit forthcoming from the banks despite the billions of taxpayer's money they were bailed out with. The government should have gotten a guarantee from the banks, all that money has been wasted imho!
:mad:rant over!

amcalester

james1234 wrote: »

:mad:rant:
So much for the banks increasing availability of credit to help get the economy moving... No wonder consumer spending is at all time low, if there's STILL no credit forthcoming from the banks despite the billions of taxpayer's money they were bailed out with. The government should have gotten a guarantee from the banks, all that money has been wasted imho!
:mad:rant over!

The banks made credit too easy to avail off before the recession and people got in over their heads and blamed the banks.
Now the banks have put in stricter controls on credit cards (which have an extremely high rate of interest) and people are still complaining.

Besides allowing people huge credit limits on their credit cards is not the way to kick start the economy.

james1234

amcalester wrote: »

The banks made credit too easy to avail off before the recession and people got in over their heads and blamed the banks.
Now the banks have put in stricter controls on credit cards (which have an extremely high rate of interest) and people are still complaining.

Besides allowing people huge credit limits on their credit cards is not the way to kick start the economy.

Just a bit of a rant there, but in my particular case I've had the same credit limit on my card for over 12 years, and I'm not talking huge, and now I'm being penalised for what exactly??? Changing banks perhaps, as if I had kept my original card, I'd still have that original credit limit. When I spoke to AIB regarding this they even admitted your past credit history (and mine is excellent) is pretty much ignored for new credit card applications, so much for being good with my money.

Just feels like I'm paying for other people's mistakes.

chris85

james1234 wrote: »

Just a bit of a rant there, but in my particular case I've had the same credit limit on my card for over 12 years, and I'm not talking huge, and now I'm being penalised for what exactly??? Changing banks perhaps, as if I had kept my original card, I'd still have that original credit limit. When I spoke to AIB regarding this they even admitted your past credit history (and mine is excellent) is pretty much ignored for new credit card applications, so much for being good with my money.

Just feels like I'm paying for other people's mistakes.

The banks are playing damage limitation and not giving credit easily.

Halifax were a quite risky lender with way too high limits given to people that should not have got them. Big debts were racked up and people just didnt have the means to pay them back.

Its sucks but the banks are being prudent and i think its about time. Credit cards are dangerous things and although I am sure you are fine with finanaces this is not about you. They have their criteria for limits and you didnt fit in.

Too many are on here giving out that they were being thrown money in the golden days and now we are giving out they aint doing it anymore. Of course they wont they are trying to play straight and make money. on credit cards most banks are making a loss on each card according to recent figures released a few months back.

Basically get over it. Different bank, different rules.