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Old 16.09.2015, 20:43
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Migros Mastercard limit reduced

I've had the Migros Mastercard for a couple years now and for the money it's good. After all, it's free.

However I've just received a letter from Cembra MoneyBank (issuers of the Migros card) announcing that they are reducing my credit limit as part of their continued efforts "to offer the best possible service to our clients."

I don't know why they're doing that - I have never been late in my payments, and haven't had security incidents involving the card. Maybe it's because I don't use it enough.

They do give me the opportunity of keeping my current limit if I want to. Then, I should fill out a form (which they are enclosing) and mail it to them.

Has this happened to anyone here?
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Old 16.09.2015, 20:49
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Re: Migros Mastercard limit reduced

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I've had the Migros Mastercard for a couple years now and for the money it's good. After all, it's free.

However I've just received a letter from Cembra MoneyBank (issuers of the Migros card) announcing that they are reducing my credit limit as part of their continued efforts "to offer the best possible service to our clients."

I don't know why they're doing that - I have never been late in my payments, and haven't had security incidents involving the card. Maybe it's because I don't use it enough.

They do give me the opportunity of keeping my current limit if I want to. Then, I should fill out a form (which they are enclosing) and mail it to them.

Has this happened to anyone here?
Why on earth would you take that as a personal affront... It's obviously something they are sending to everyone in order to try and reduce the debt people have... that way they make sure that people who apply to keep the current amount actually need it.

Stop moaning and send the form. Job done.
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Old 17.09.2015, 14:36
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Re: Migros Mastercard limit reduced

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. . . I've just received a letter from Cembra MoneyBank (issuers of the Migros card) announcing that they are reducing my credit limit as part of their continued efforts "to offer the best possible service to our clients."
. . .
Usually it is in the best interests of the Bank's clients, that the clients don't have access to credit that they cannot afford to repay. Naturally, the Bank will present all of its actions (closing branches, reducing opening times, increasing fees for services etc. etc.) as a direct benefit to the client.
In this special case, the bank is now tightening down its exposure to risk and the form you have to complete will be asking things like your level of income, debts etc. The threat to lower your credit limit is simply an incentive for you to keep the Bank updated with your current financial situation. At the end of it, you will probably see your credit limit increased.
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