EaglesFan2006 wrote:I'm a little surprised to read some of the posts here. Is it true that Barclay will actually evaluate an account and potentially close you out if you had obtained a new card since them? What is the reasoning for that? I opened my Barclay Card last Black Friday, and I recently opened up new cards with Chase and Citi. I'm right around the 6-7 month mark between cards so I hope that is okay, but it still seems crazy that they would lower credit based on that.
I think people read posts about this happening and assume it happens to someone every day. They just don't want to give you a card based on your report, (say you have 4 nicely aged acounts with decent limits, good payment history, and whatnot), and then soft you the next month and see that you've applied and been approved for 4 more cards.
IMHO opening a barclays card (that you actually want/need) is a great way to start off a period of gardening. You know that you may be at risk if you open new accounts after barclays, and it's a nice way to force yourself to stay in the garden for a little bit of time.
I just had my US Air card reduced from $1500 to $1050. I asked for an explanation and the online (email) rep told me that a letter is has been sent explaining their actions. I responded that I would be paying in full this month and closing the account. I do not have time for this nonsense and I refuse to play their games.
I have been happy with my Barclays experience. At the beginning of the year, I applied for the Visa Apple finance card and got approved for $1400. About a month later, I applied for their MasterCard US Air card (US Air is the only carrier that flys in and out of my small, local airport) and got the 7-10 day response. I apped late on a Friday and was going to call on Monday to ask if they needed additional information from me for consideration but they ended up calling me first. They asked a couple of questions and asked me if a CL of $3500 sounded ok for me. Of course, I said yes. I don't use the Apple card very often (a small charge every couple of weeks to keep it active), but have used the US Air card, especially for 2 flights I've taken and one I'm about to take and a local restaurant that offers miles when I eat there. Since both cards, I have gotten Chase Freedom, Discover More, BankAmerica 123, and Paypal Extras (GE) cards and haven't had any problems with the Barclays cards. I have also opened up a online savings account with them because of their 1.00% APY but my two cards are not associated with that at all.
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