Barclay decreased my CL without notice!!!!!!!

[Anonymous]

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@raydmercer2345 wrote:

Thanks for the help and info everyone! I called Barclay this morning and after a few questions my limit was reinstated. Paying of this balance now. 

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That's awesome...what was the reason for the CLD?  Thanks

[Anonymous]

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@Bman70 wrote:

OP has something like $10k in revolving debt. ($4k + $4k + $1.1k plus change.) We've seen over and over that banks get dicey when you approach $10k in revolving balances. They probably just consider that a sign of trouble, whether it is or not. I carried a Barclay balance for a year, no problems. (Paying way over min. though.)

Bman, this is an excellent point. I would love it if you started a whole new thread discussing this point so members can become more aware of the 10k point as somewhat of a red flag and to be cognizant of that.

[yfan]

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@wacdenney wrote:

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@kdm31091 wrote:

As much as it sucks, they aren't required to give you any kind of notice. They sense risk, and so they take action against it. I know someone who works for BOA. Any accounts with constant min payments are flagged in red and reviewed. I'm sure this is similar across all banks. Don't take it personally. Just don't make yourself "risky" in the future.

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Obviously they aren't REQUIRED to provide notice, but honestly how difficult would it be to script an automated email.  Not very difficult at all and really it's the right thing to do.  They expect you to communicate with them and communication blvd is a two way street.

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This is a credit risks decision. When a bank decides that they are no longer willing to extend you a certain amount of credit, the best way to minimize risk (that you will use up more of it) is to do the CLD immediately.

And of course we don't give notice to our lenders about everything we do. We don't always give them notice before running up large balances, or, for that matter, calling and closing a card that isn't working for us. I hardly think banks get to say that they deserve a notice (or it's the right thing to do) before a consumer takes an action that is in the best interest of the consumer but not necessarily that of the bank.

[taxi818]

Pretty sure 10k has nothing what so ever to go with it because  have 13k in debt. And I'm still getting Cli's. But I pay 5-7 times more than minimum. And never had a problem. 

[black_citi]

Me personally I always save my money first then buy what I want on credit. When the bill is due, I PIF.

I do that for 2 reasons.

1. During the time I'm saving, I ask myself if I really want/need that item.

2. If I do purchase it, I can pay in full once the bill comes and to keep me from paying the minimums.

I am currently thinking of an expensive watch I absolutely love. I am saving the money for it now, won't have it til October or so and while saving I am looking to see if I find it cheaper and if I really want it. 

I know saving $ before you purchase may not be an ideal situation for some, especially in emergencies, but so far it works for me.

[Anonymous]

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@Anonymous wrote:

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@Bman70 wrote:

OP has something like $10k in revolving debt. ($4k + $4k + $1.1k plus change.) We've seen over and over that banks get dicey when you approach $10k in revolving balances. They probably just consider that a sign of trouble, whether it is or not. I carried a Barclay balance for a year, no problems. (Paying way over min. though.)

Bman, this is an excellent point. I would love it if you started a whole new thread discussing this point so members can become more aware of the 10k point as somewhat of a red flag and to be cognizant of that.

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Yeah, i guess thats a good reason.  Specially if you're only making minimum payments.  Good thing he was abel to get his CL back.

[taxi818]

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@black_citi wrote:

Me personally I always save my money first then buy what I want on credit. When the bill is due, I PIF.

I do that for 2 reasons.

1. During the time I'm saving, I ask myself if I really want/need that item.

2. If I do purchase it, I can pay in full once the bill comes and to keep me from paying the minimums.

I am currently thinking of an expensive watch I absolutely love. I am saving the money for it now, won't have it til October or so and while saving I am looking to see if I find it cheaper and if I really want it. 

I know saving $ before you purchase may not be an ideal situation for some, especially in emergencies, but so far it works for me.

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Yes if you are buying merchandise. But 13k is not all credit card. Most of it is from federal taxes. Much Rather owe my bank and pay interest. Than owe Uncle Sam and pay their interest. It's always about what is best for individual. Not one size fit all. So if minimums were goid for op at that time.  So be it.depending how much minimums are. So on 13k. Minimums are combined. 324 dollars. I pay about 1500 a months to bring it down. That way in a year.  Very little debt. 

[Anonymous]

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@raydmercer2345 wrote:

Thanks for the help and info everyone! I called Barclay this morning and after a few questions my limit was reinstated. Paying of this balance now. 

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Please tell us - what was their reason for the CLD?!? It will help so many of us who are paranoid about Barclay doing this to us! I'm happy you got it resolved!!

[Anonymous]

If you are "doing nothing wrong" then there is nothing to fear.

[Anonymous]

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@Anonymous wrote:
If you are "doing nothing wrong" then there is nothing to fear.

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I don't know if that's true when it comes to Barclay. I'm pretty sure that many of those who have had AA by them would disagree with you as well. I haven't done anything wrong and they make me nervous.