Barclay IS Watching

MakeItAMudLight · ‎07-16-2011

So I got the Apple financing card from Barclay the end of May. Was approved with a CL of 2,500. Ordered my fiance a 13" MacBook Pro the begging of June to take advantage fo the fincancing. On statement has cut since then and I paid a little over a hundred dollars on it to insure that equal payments would pay it off in 12 months. Well since then I apped and was approved for the Visa Signature from B of A. Well I guess Barclay didn't like that because I logged in this morning and the CL was lowered to 1,600. I don't know any other reason for this. I've never been late on anything. Other than this all I owe is for my truck and four wheeler. I have like eight cards ranging from 800 to 16,600 all reporting Zero balances. I guess what they say is true about them. I just hope they don't close it because I'd like to take advantage of the promo financing after this is payed off.

Ron1 · ‎07-16-2011

@MakeItAMudLight wrote:
So I got the Apple financing card from Barclay the end of May. Was approved with a CL of 2,500. Ordered my fiance a 13" MacBook Pro the begging of June to take advantage fo the fincancing. On statement has cut since then and I paid a little over a hundred dollars on it to insure that equal payments would pay it off in 12 months. Well since then I apped and was approved for the Visa Signature from B of A. Well I guess Barclay didn't like that because I logged in this morning and the CL was lowered to 1,600. I don't know any other reason for this. I've never been late on anything. Other than this all I owe is for my truck and four wheeler. I have like eight cards ranging from 800 to 16,600 all reporting Zero balances. I guess what they say is true about them. I just hope they don't close it because I'd like to take advantage of the promo financing after this is payed off.

Barclays doesn't like too many apps since approval. I have been seen people getting their accounts closed. You only got CLD for being lucky.

Ron.

KIPPIE12 · ‎07-16-2011

The general rule of thumb is to garden for 6 months if your last app was with Barclays. There is rumor that they have a specific unit that watches new accounts during this timeframe. Some have been cut off at the knees, or CLD. You were lucky i guess. Some have had it happen, some not, so YMMV.

dallasjetfan · ‎07-16-2011

It happened to me twice, but I never use their card anymore and if I could double my Cap One Venture One card to $10K, I would close that account like I have with many of my accounts.

Ron1 · ‎07-17-2011

There won't be any promo other than interest free financing. It's simply one time deal. Therefore, you might want to close it after paid off.

Ron.

minimock · ‎07-17-2011

I have read all the Barclay warnings, but I said what the heck, its all a crap shoot anywho LOL.

I got a USairways card back in October, and three months later I got a BOA Sig and United Airlines Sig.

Did not get tagged and even got a 1500 CLI 4 months into it.

Guess its a hit and miss thing. Having said that, if I had it to do over again, I may have erred on the side of caution

Anonymous · ‎07-17-2011

Anybody wanna bet that within the next two-to-five years at least three other major banks won't run their credit cards the same way as Barclay (especially if Barclay's model limits their losses?)

bostonte · ‎07-17-2011

"There won't be any promo other than interest free financing. It's simply one time deal. Therefore, you might want to close it after paid off."

Wrong.

It's not an every day thing, but the promo does come back from time to time.

aamex · ‎07-17-2011

They are a little shady. Although, they haven't soft pulled my report yet. I just wanted the deferred interest financing, then i'm going to PC to something else or place them in the SD.

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MakeItAMudLight · ‎07-17-2011

@aamex wrote:
They are a little shady. Although, they haven't soft pulled my report yet. I just wanted the deferred interest financing, then i'm going to PC to something else or place them in the SD.

I just wanted the deferred financing as well. I would have liked to keep the utilization on this card a little lower though. It's alread in the sock drawer, where it will stay.