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The title says it - Barclay took this action today and lowered my credit line by %55. I called and they said the reasons were:
- Too many inquiries.
- Balance is too high compared to monthly payments!
I admit that I have had some inquiries in the past few months .. nothing too out of the ordinary (2 or 3). I was surprised they would take this action given none of cards is maxed out .. I make way more than the minimum payments and have not had any late payments at all!
Does anybody have a success stores getting his/her credit line reinstated?
Yeah, I'm wondering how you utilized your card dude. Was it 100% uncalled for?
My utilization on almost all of my cards is 20%-30% .. with one card at 45%.
@altayar wrote:My utilization on almost all of my cards is 20%-30% .. with one card at 45%.
How many cards do you have, what is your CL; and is the Barclays the card with 45% utilization
@ecxpa wrote:
@altayar wrote:My utilization on almost all of my cards is 20%-30% .. with one card at 45%.
How many cards do you have, what is your CL; and is the Barclays the card with 45% utilization
I have 11 cards .. the limit on the Arrival+ was $4000 and the balance was $1275. The one with the %45 has a 13k credit line with around 6k balance. All other cards have limits of 5k and most of them have balances less than $1500.
balances on all your cars may be the issue.........20-30% overall utilization may be considered high with one @ 45%. Can you pay off any of the cards or perhaps transfer balances so you have fewer cards showing a balance. Then there is the factor of income.......DTI ratio.
So 16-17K total balances? What kind of income do you have? Could be a debt to income ratio situation maybe?
@altayar wrote:
@ecxpa wrote:
@altayar wrote:My utilization on almost all of my cards is 20%-30% .. with one card at 45%.
How many cards do you have, what is your CL; and is the Barclays the card with 45% utilization
I have 11 cards .. the limit on the Arrival+ was $4000 and the balance was $1275. The one with the %45 has a 13k credit line with around 6k balance. All other cards have limits of 5k and most of them have balances less than $1500.
So almost all of your cards carry a balance?So if my approx calculation correct, your overall uti would be around 25-30%,with most cards carry balances? I mean thats alarming to me,but not serious enough that they cut your CLI, did you opened alot new card within the last 6 months?I'm scare for myself too,Barclay US airway would be my 3rd card within last month
is Barclays balance chasing you?........if so that's not a good sign