AA for the 2nd time on SallieMae MasterCard

[Anonymous]

Very sorry to hear of this, ddemari. Hang in there and garden strong. You have too nice of a profile to let it go by the wayside.

[ddemari]

thanks humu. as always, i need to focus on the good accounts ive managed to pick up and not keep opening anything an everything that floats across my screen lol. 

[baller4life]

Just out of curiosity, were the banks doing these proactive AA's before the financial crisis of 2008/09? Or is this something implemented afterwards to try and forsee trouble?

[CreditMagic7]

Oh no ddemari, that the Barclay hammer on you again?

There's no amount of anything much more to offer that hasn't been said before. We all know by now how that they operate with our accounts along a very thin thread, and any extra new inquiries here, or extra new accounts there is enough to break it and then here they come swooping in.

They seem to really take severe offense on those blasted BT offers that they like to peddle out so often and it's almost like the moment you take them up on one that you're on some sort of a time clock with them.

I'm on one right now that i can PIF at any moment but i usually prefer to keep my timeline with those BT's from Barclays to 90 days tops then PIF and over.

Don't think i could rest easy if it even went 6 months in the way they like to chop cardholders that use them.

Mind you yes, your many new accounts no doubt brought in that attention but spending time reading via SEARCH feature here in the forums and you'll see this same thing with far less so called risk so i dunno.

[ddemari]

for sure, I have had seen before people that are way less riskier than me getting slashed. I only posted as a data thread, I know what I did. I just thought Id share that opening and opening and cards really doesnt pay off with lenders like BOA and Barclays. At least Barclays doesnt shut you down like BOA is known to do. 

And baller, I wasnt really using credit in 08/09. I was 4 years out of BK in 2008 and thought nothing of starting to rebuild my credit as I was told by family and friends that I was tarnished in the eyes of the banks and no one would lend to me with a bk reporting. I am very curious though, I mean people were getting insane loans before the meltdown of 2008. 

[Anonymous]

Problem is, Barclay's considers new accounts to be those from even 10-11 months ago. Frustrating. I like them and they've been good to me so far, but I'm sure others have originally said the same and then had it change on them.

Sorry, ddemari. Focus on your other lenders and good relationships - you have many.

[Anonymous]

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@baller4life wrote:
Just out of curiosity, were the banks doing these proactive AA's before the financial crisis of 2008/09? Or is this something implemented afterwards to try and forsee trouble?

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This is an excellent question and I'd like to know this as well. I do recall that back in the 70's and 80's (I"m not that old, was just young then!) they were proactively mailing people credit cards and approving them whether they'd even applied for them or asked for them or not. I remember my dad receiving one or two that he'd never even applied for in the 1970's because he had great credit.

[ddemari]

Bank of America started this practice by sending out people who did not apply of want a credit a live, active credit card. This caused all kinds of problems and lead to laws and regulations. 

[Anonymous]

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@CreditMagic7 wrote:

Oh no ddemari, that the Barclay hammer on you again?

There's no amount of anything much more to offer that hasn't been said before. We all know by now how that they operate with our accounts along a very thin thread, and any extra new inquiries here, or extra new accounts there is enough to break it and then here they come swooping in.

They seem to really take severe offense on those blasted BT offers that they like to peddle out so often and it's almost like the moment you take them up on one that you're on some sort of a time clock with them.

I'm on one right now that i can PIF at any moment but i usually prefer to keep my timeline with those BT's from Barclays to 90 days tops then PIF and over.

Don't think i could rest easy if it even went 6 months in the way they like to chop cardholders that use them.

Mind you yes, your many new accounts no doubt brought in that attention but spending time reading via SEARCH feature here in the forums and you'll see this same thing with far less so called risk so i dunno.

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Very sound advice here, especially about paying off BT's in a short time.

[ddemari]

The whole boa story about their credit practices decades ago is a fascinating story if you are ever bored u should google it. It even caused Mafia type people to operate a whole new world of corruption with the post office as they would intercept cards and charge freely as fraud monitoring wasn't even place then.