Barclaycard customers have been left furious after the lender confirmed it is slashing spending limits - even for those with impeccable credit histories.
Scott Waterman, 46, from Northamptonshire, has been told his borrowing amount is being cut from £13,600 to £250. This marks a staggering drop of £13,350, or 98%, compared to the limit he had before.
Spending limits - the amount you can borrow on credit - are usually based on your individual financial history, including if you have kept up with previous repayments.
But Mr Waterman says he has never missed a payment in the 17 years he has been with Barclaycard - his income also has not dropped.
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