Barclay slashed my credit line in half! - RESOLVED

[CreditPacMan]

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?

[Anonymous]

What exactly are your balances and credit lines? Do they mean the balance is too high on your cards in general compared to your payments or is it just on your Barclay card?

There might be a difference between what they feel is too high and maxed out.

[Anonymous]

Yeah, I'm wondering how you utilized your card dude. Was it 100% uncalled for?

[CreditPacMan]

My utilization on almost all of my cards is 20%-30% .. with one card at 45%.

[ecxpa]

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@altayar wrote:

My utilization on almost all of my cards is 20%-30% .. with one card at 45%.

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How many cards do you have, what is your CL; and is the Barclays the card with 45% utilization

[CreditPacMan]

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@ecxpa wrote:

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@altayar wrote:

My utilization on almost all of my cards is 20%-30% .. with one card at 45%.

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How many cards do you have, what is your CL; and is the Barclays the card with 45% utilization

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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.

[ecxpa]

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.

[Anonymous]

So 16-17K total balances?  What kind of income do you have?  Could be a debt to income ratio situation maybe?

[bigbang91]

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@altayar wrote:

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@ecxpa wrote:

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@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

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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.

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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

[ecxpa]

is Barclays balance chasing you?........if  so that's not a good sign