@Anonymous wrote:
12njoy sorry this happened but glad you're taking it in stride and not upset
Thanks. No since in crying over spilled milk. Nothing I can do about it now anyway.
(Formerly known as: Credit is my hobby/TCL objective)
@FinStar wrote:
@Anonymous wrote:With as many accounts as OP has, is it very likely that other creditors will pay very much attention to CLDs on three accounts? I wonder.
Is it firmly established that Barclaycard (or any lender) won't report CLDs that happen shortly before accounts are closed?
I know AA can happen for all sorts of reasons, but a few CLDs strike me as less attention-grabbing than aggressive credit seeking.
There's also the possibility that three accounts closed within a very short period of time would look bad to some lenders, even if marked as closed by consumer.
OP, you can also transfer the remaining limits to one card and keep that open.
Good points but I disagree. I closed (voluntarily) several cards a while back while I groomed "my goods" and no AA, no issues. I've consolidated several cards that resulted in several closures over time, nothing happened. Honestly, 3 CLDs or closures for 12njoy will be nothing in the grand scheme of things.
I agree. I have closed many accounts before with no adverse effect. Even if these closures did result in adverse action, I'll deal with it.
@ddemari wrote:
Thanks for sharing 12, I'd close em up and move on too. Who knows, I may be following soon lol.
LOL, I hope not (I mean that in a good way). I don't want this to happen to you.
@12njoy wrote:
@ddemari wrote:
@12njoy wrote:
@ddemari wrote:
I know a lot of people have no problems with Barclays and balance transfers. But for some people like me, when AA did happen last year and it was on a card that I was paying off a 0 percent balance transfer and the balance wasn't even more than 25 limit of the card ever, it definitely resignated me that Barclays, chronic apping and balance transfers spike the red flag in them.That sounds about right in my case. They let me go for a long time
they especially in my experience throw it down hard on u even more when apping for another card of theirs and then take the AA on u.
I had the balance transfer on my card for about 10 months when they slashed the limit. They are going to be cold to u for at least 12 months on the cards u have, are u sure u want to close them out 100%?
I can totally see doing that though, as I would do the same Im sure.
Yes I'm positive now that I've heard from you and B335. I don't want them to close my accounts and leave that notation on my reports so I'll take a premptive strike 2nd seeing as they made the 1st strike. No since in them being cold towards me for 12 months for 8k. Totally not worth it. Especially considering the closure risks from them.
Sorry to hear about the CLD, but this I don't understand. I've had several cards closed by issuer, including a $5k card with Citi, that is still closed, still paying down a balance on a Forever 1.99% APR rate. I keep it going because the card was opened in 2000, and it's a fun way to poke the bear. Funny thing is, even though it's "closed by issuer" they recently gave me a $13k AAdvantage Platinum card, and it got a BT offer, 0% to June 2017 via email today. I've got two cards closed with balances, two more cards closed by Chase that are zero, and no issues whatsoever in getting cards this year, now that my balances are more reasonable.
So I really don't think anybody in the CCC cares who closed the account, whether it's the issuer or the cardholder. And, for the most part, my experience with CLD is, they don't go on forever. Of course, I've not had any Barclays AA, so I can't vouch for their sanity. But with the Hawaiian card, weren't you trying to travel a group to Hawaii? Seems a shame to close that card just out of spite, or for some misperception that it makes a difference whether Closed by Issuer is even noticed on your credit report.
If it were me? And I've done this many times, I'd leave the cards as is, pay them down, and show Barclays payment capability. Credit lines with banks such as Barclay are fluid items, and I think people take too much personal affront if a CLD happens. Chase, Citi, BofA, they are all liking me now, even though they all did varying levels of AA over the years. Direct payment history with continuously open cards cannot be understated as a valued item within these banks... as long as they are sane, which, as noted above, I can't vouch for Barclays.
Good luck regardless.
(It would be interesting to have a datapoint where someone had a Barclays CLD, did not close the card, and got a CLI later on. Jus' sayin')
@NRB525 wrote:
@12njoy wrote:
@ddemari wrote:
@12njoy wrote:
@ddemari wrote:
I know a lot of people have no problems with Barclays and balance transfers. But for some people like me, when AA did happen last year and it was on a card that I was paying off a 0 percent balance transfer and the balance wasn't even more than 25 limit of the card ever, it definitely resignated me that Barclays, chronic apping and balance transfers spike the red flag in them.That sounds about right in my case. They let me go for a long time
they especially in my experience throw it down hard on u even more when apping for another card of theirs and then take the AA on u.
I had the balance transfer on my card for about 10 months when they slashed the limit. They are going to be cold to u for at least 12 months on the cards u have, are u sure u want to close them out 100%?
I can totally see doing that though, as I would do the same Im sure.
Yes I'm positive now that I've heard from you and B335. I don't want them to close my accounts and leave that notation on my reports so I'll take a premptive strike 2nd seeing as they made the 1st strike. No since in them being cold towards me for 12 months for 8k. Totally not worth it. Especially considering the closure risks from them.
Sorry to hear about the CLD, but this I don't understand. I've had several cards closed by issuer, including a $5k card with Citi, that is still closed, still paying down a balance on a Forever 1.99% APR rate. I keep it going because the card was opened in 2000, and it's a fun way to poke the bear. Funny thing is, even though it's "closed by issuer" they recently gave me a $13k AAdvantage Platinum card, and it got a BT offer, 0% to June 2017 via email today. I've got two cards closed with balances, two more cards closed by Chase that are zero, and no issues whatsoever in getting cards this year, now that my balances are more reasonable.
So I really don't think anybody in the CCC cares who closed the account, whether it's the issuer or the cardholder. And, for the most part, my experience with CLD is, they don't go on forever. Of course, I've not had any Barclays AA, so I can't vouch for their sanity. But with the Hawaiian card, weren't you trying to travel a group to Hawaii? Seems a shame to close that card just out of spite, or for some misperception that it makes a difference whether Closed by Issuer is even noticed on your credit report.
If it were me? And I've done this many times, I'd leave the cards as is, pay them down, and show Barclays payment capability. Credit lines with banks such as Barclay are fluid items, and I think people take too much personal affront if a CLD happens. Chase, Citi, BofA, they are all liking me now, even though they all did varying levels of AA over the years. Direct payment history with continuously open cards cannot be understated as a valued item within these banks... as long as they are sane, which, as noted above, I can't vouch for Barclays.
Good luck regardless.
(It would be interesting to have a datapoint where someone had a Barclays CLD, did not close the card, and got a CLI later on. Jus' sayin')
I agree with many of your points. I do plan on taking a Hawaiian vacation but I have my Alaska air for that. I couldn't split the trip up on two airlines because it's me and 4 children. I'm not closing the cards in spite. On the contrary, I would rather just close them now than have them closed by Barclays. That's just my personal choice. I'm totally okay with the CLD. It's really not the end of the world. In the grand scheme of things, 25k is a drop in the bucket here. Really no big deal.
@Anonymous wrote:
@12njoy wrote:
@FinStar wrote:
@Anonymous wrote:With as many accounts as OP has, is it very likely that other creditors will pay very much attention to CLDs on three accounts? I wonder.
Is it firmly established that Barclaycard (or any lender) won't report CLDs that happen shortly before accounts are closed?
I know AA can happen for all sorts of reasons, but a few CLDs strike me as less attention-grabbing than aggressive credit seeking.
There's also the possibility that three accounts closed within a very short period of time would look bad to some lenders, even if marked as closed by consumer.
OP, you can also transfer the remaining limits to one card and keep that open.
Good points but I disagree. I closed (voluntarily) several cards a while back while I groomed "my goods" and no AA, no issues. I've consolidated several cards that resulted in several closures over time, nothing happened. Honestly, 3 CLDs or closures for 12njoy will be nothing in the grand scheme of things.
I agree. I have closed many accounts before with no adverse effect. Even if these closures did result in adverse action, I'll deal with it.
If I understand your posts correctly, you two are saying that as long as the accounts report "closed by borrower" it will be okay, but it will be bad if they report the CLDs, close the accounts, and report the accounts as "closed by lender".
I'm saying that with as many accounts as you have, I doubt a few CLDs or "closed by lender" reports will have broad effects. If lenders can stomach your very high total available credit, I don't know much they will care about a little AA from another lender. Consequently, I'd keep the cards open, endure the CLDs, and close the cards when it made sense from a rewards/perks standpoint.
But if you two are worried about the "closed by lender" designation, and see it as much worse than a short-lived "closed by borrower" account, then my approach wouldn't make sense for you.
Again, I can't speak for Finstar, but it's just my personal choice. We all have to do what we think is best for us. As I stated initially, I wasn't seeking advice. I was just putting this out for information purposes. I've made up my mind, right wrong or indifferent, this is the best decision for me and my goals. No offense to you.