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

[Anonymous]

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@IllinoisNative wrote:

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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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I work for a bank.  No way in hades are we going to warn a potential defaulter that we might close their account.  We are not going to give the customer time to run up their balance before we take action.  The systems are designed to red flag risky accounts based on specific criteria.  Don't take it personally. We can always manuallly review an account for reinstatement. Most people are going to notice the decrease online before they would even receive the letter.

Of course if you just want notice that we did it after the fact, that is legitimate.  However, we wouldn't tell you until after we did it by mail so there is still potential to be at the supermarket and have your card declined.  If you log into your account online, you would notice the limit change immediately.

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Your explanation makes sense. I could see unscrupulous people maxing out their cards for revenge.

[ddemari]

I would think if the OP experienced AA from Barclays, 99.9% chance it is rapid account build-up. 

Now if OP missed payments, or has had anything negative hit their CR, then maybe Barclays became uncomfortable. 

But, usually when someone experiences some sort of AA and they were not expecting it, its lots of new accounts. That is just my take from my research and personal experiences. 

[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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Congrats on your CL being reinstated!!! It's a lesson learned. Going forward, you know what not to do. Did they explain why your CL was decreased?

[Anonymous]

I dont think OP is coming back...we can only speculate but only he can tells us what the reason/s was/were 

[Anonymous]

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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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Excellent way to manage your finances. Are you paying for the item with your credit card because of the ability to earn rewards like cash back or miles? Or so you can have a payment history? Thanks in advance for answering my questions!

[raydmercer2345]

Hello All! OP here! I posted earlier but maybe some of you didnt see it. I called in to the "portolio managemet department" and spoke with a representative. He looked up my account and asked me why my credit card balances have jumped up a bit within the last 4 or 5 months and also why I had so many inquiries over that time period. He did not specifically say why they did the CLD but I can only assume it was for the reasons he asked about. I have had this card for about 10 months and only over the last 4 or so did I keep a balance on it. I have had a balance of around $1100 during those 4 months. He did reinstate the CL effective immediately. I plan on paying this off in the next month or so. Hope this helps! 

[CreditMagic7]

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@raydmercer2345 wrote:

Hello All! OP here! I posted earlier but maybe some of you didnt see it. I called in to the "portolio managemet department" and spoke with a representative. He looked up my account and asked me why my credit card balances have jumped up a bit within the last 4 or 5 months and also why I had so many inquiries over that time period. He did not specifically say why they did the CLD but I can only assume it was for the reasons he asked about. I have had this card for about 10 months and only over the last 4 or so did I keep a balance on it. I have had a balance of around $1100 during those 4 months. He did reinstate the CL effective immediately. I plan on paying this off in the next month or so. Hope this helps! 

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Good thing you called in and i'm glad it worked out in your favor but this is TYPICAL BARCLAYS in my honest opinion. I carried a lot more of a balance from a BT then you for whatever months and never seen a peep out of them. Every time i call in to talk to their recon dept i feel like i'm dealing with high school attitudes and last week was no different when i requested an APR reduction and also seen if just maybe they had a SP CLI laying around for my account. All they ever say is we can see you handle this account well but we just don't have an offers for this account.

I think there is a little more of internal issues going on at Barclays then we know about but who has the time to try sift thru that mess to get any real results. They will enter knee-jerk decisions at times into their systems based on what i can only describe as the most sensitive/delicate of criteria of any lender i ever seen as far as i'm concerned.

Best of luck that it doesn't happen again for you and i don't blame you for zeroing them out and re-evaluating this experience you just been through.

ALL THE BEST!

[Anonymous]

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@raydmercer2345 wrote:

Hello All! OP here! I posted earlier but maybe some of you didnt see it. I called in to the "portolio managemet department" and spoke with a representative. He looked up my account and asked me why my credit card balances have jumped up a bit within the last 4 or 5 months and also why I had so many inquiries over that time period. He did not specifically say why they did the CLD but I can only assume it was for the reasons he asked about. I have had this card for about 10 months and only over the last 4 or so did I keep a balance on it. I have had a balance of around $1100 during those 4 months. He did reinstate the CL effective immediately. I plan on paying this off in the next month or so. Hope this helps! 

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Thank you for keeping us posted OP! I'm so glad they reinstated your limit. How many INQs have you had since you got their card?

[Anonymous]

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@taxi818 wrote:

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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. 

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Recently, I consolidated all of our debt onto one card. The new balance is 19K at 0% interest. This month we are paying $200 a week. Starting in September, we will pay $1200-$1500 per month until PIF. The minimum payment is $294. All other accounts are at $0. It feels good to have one payment each month. I know some may frown upon this, but it works for us. Keep up the good work everyone!!!

[Anonymous]

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@Anonymous wrote:

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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.

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+1

I have used my Ring 3 times since April 2015. I allowed it to report a balance of 5K once and then I immediately PIF. After that, I requested a CLI and they approved me for 3K. More than likely, she will be SD for the rest of the year.