@jeffm4688 wrote:
@Anonymous wrote:Do you think these CLD and account closings happen mostly on Barclays own cards, or do they also happen on co-branded cards like the jetBlue? I hope not, but I'll just have to see what happens, I guess.
They happen on jetblue, just got my letter today. They closed $9K line strictly due to INQ's and new Acct's. I added 8 accounts in the 8 months since getting the jetblue (vs the 12 new I had in the 6 months prior to approval).
When I opened my BRM back in 6/13, for the following next 2 yrs, I was getting auto CLI like a clockwork(every 6 months). Then I started to expand my porfolio and I havent seen a dime from them. I should thank my lucky star for not gettin' AA, but at this point I'd be cool with or without it.
Just called the other day about APR reduction and possible SP CLI....Lady tells me yes you qualify for 1% reduction to 24.24%, lol. and no SP CLI.
@CreditMagic7 wrote:That's the thing about Barclays.
They have a special pool of cardholders they keep close and see to their satisfaction, and then there's everybody else
yep,
@CreditMagic7 wrote:That's the thing about Barclays.
They have a special pool of cardholders they keep close and see to their satisfaction, and then there's everybody else
This makes it sound like there is some secret criteria, or Barclay's just chooses some card holders at random. It is pretty clear from all of the AA stories that Barclays is risk adverse. They are particularly sensitive to aggressive credit seeking. So if you have a Barclay's card, and want to keep it, either moderate your credit seeking, or have a otherwise very strong profile to offset the risk factor.
Barclay's wouldn't be in business if they were alienate the majority of their cardholders and only satisfying a "special pool of cardholders"
Threads like these make Barclay's seem like the boogeyman, like there is no rhyme or reason for their actions. It encourages people to irrational things like proactively close thier Barclay's account in fear of an AA. IMO, that is paranoia. So worst case, you get "Closed by Creditor", and best case you to keep your account, maybe even grow your account, and use the benefits that come with the card. Btw ... I have a "Closed by Creditor" on my CR (OCCU), and my score is over 800 ....
@sillykitty1 wrote:
@CreditMagic7 wrote:That's the thing about Barclays.
They have a special pool of cardholders they keep close and see to their satisfaction, and then there's everybody else
This makes it sound like there is some secret criteria, or Barclay's just chooses some card holders at random. It is pretty clear from all of the AA stories that Barclays is risk adverse. They are particularly sensitive to aggressive credit seeking. So if you have a Barclay's card, and want to keep it, either moderate your credit seeking, or have a otherwise very strong profile to offset the risk factor.
Barclay's wouldn't be in business if they were alienate the majority of their cardholders and only satisfying a "special pool of cardholders"
Threads like these make Barclay's seem like the boogeyman, like there is no rhyme or reason for their actions. It encourages people to irrational things like proactively close thier Barclay's account in fear of an AA. IMO, that is paranoia. So worst case, you get "Closed by Creditor", and best case you to keep your account, maybe even grow your account, and use the benefits that come with the card. Btw ... I have a "Closed by Creditor" on my CR (OCCU), and my score is over 800 ....
These threads do make Barclaycard sound like they bogeyman.
The problem with statements like "I got a card with them a year ago, added a few more accounts, and now they CLD'ed me" is that "a few" is often like 15 or 20 cards, but some readers think it means 2 or 3.
