Barlcay CLD

[kdm31091]

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@CreditCuriousity wrote:

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@kdm31091 wrote:

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@visorboy1974 wrote:

75% of my CL.  However, if they don't want me to use it, don't send me the offer with terms that I can transfer UP TO my credit limit.  I paid it down in some good chunks, and it still didn't matter...any big chunk meant another CLD.      

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I agree with what you are saying but in most cases it is not just doing a balance transfer that triggers AA. With many lenders, doing a BT triggers a review on one's account. So it's likely that during said review, it was determined something else was not up to their par. Just because they send out offers does not mean they aren't going to review your account if you use it.

That said, it seems like based on anecdotal evidence only, doing a BT with Barclay's is rarely a good idea. Every lender has its ins and outs and it simply seems their "review your account" criteria is stricter than most lenders. However, with most AA stories, we are not getting the full picture, only the snapshot of what the poster decides to tell us. I have never done a BT with my Barclay card and don't intend to. If you (not you specifically) find yourself needing to do BTs often, you may be in financial trouble in a sense, which is the whole reason creditors review accounts when you do one.

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I agree with you on if you do a fairly large BT and a good percentage of your CL then they most likely will review your account prior.. With that said, they should just not honor the BT and decline it before it happens rather than balance chase a person.  Just my thought on it, especially if person if making way larger than needed payment.

Not sure if you are aware of this or not but Barclay's pushes BT's like no one else, they really want you to use them as they make $ of them obviouslly.. It is a fine line what they deem acceptable or not and no one knows this line which is what is messed up at least in my opinion.  This has been an issue with multiple people recently and thus these type of posts.  If you don't want BT's don't push them like crack or before honoring them and then balance chasing someone, just turn them down.  Just my 2 cents

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I agree, it does seem kind of messed up, but there's nothing we can do about it expect learn from what we have heard from others. Ostensibly, that means avoiding BTs with Barclays realistically unless you have zero other options.

[baller4life]

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@CreditCuriousity wrote:

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@kdm31091 wrote:

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@visorboy1974 wrote:

75% of my CL.  However, if they don't want me to use it, don't send me the offer with terms that I can transfer UP TO my credit limit.  I paid it down in some good chunks, and it still didn't matter...any big chunk meant another CLD.      

---

I agree with what you are saying but in most cases it is not just doing a balance transfer that triggers AA. With many lenders, doing a BT triggers a review on one's account. So it's likely that during said review, it was determined something else was not up to their par. Just because they send out offers does not mean they aren't going to review your account if you use it.

That said, it seems like based on anecdotal evidence only, doing a BT with Barclay's is rarely a good idea. Every lender has its ins and outs and it simply seems their "review your account" criteria is stricter than most lenders. However, with most AA stories, we are not getting the full picture, only the snapshot of what the poster decides to tell us. I have never done a BT with my Barclay card and don't intend to. If you (not you specifically) find yourself needing to do BTs often, you may be in financial trouble in a sense, which is the whole reason creditors review accounts when you do one.

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I agree with you on if you do a fairly large BT and a good percentage of your CL then they most likely will review your account prior.. With that said, they should just not honor the BT and decline it before it happens rather than balance chase a person.  Just my thought on it, especially if person if making way larger than needed payment.

Not sure if you are aware of this or not but Barclay's pushes BT's like no one else, they really want you to use them as they make $ of them obviouslly.. It is a fine line what they deem acceptable or not and no one knows this line which is what is messed up at least in my opinion.  This has been an issue with multiple people recently and thus these type of posts.  If you don't want BT's don't push them like crack or before honoring them and then balance chasing someone, just turn them down.  Just my 2 cents.   What they don't care about is when they balance chase you they are essentially maxing out your credit on one CL/TL and thus hurting the consumer score wise and credit wise in general which again just isn't right.

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I totally agree CC. They push bt like crack cause they want that 3% fee. Then drop you like a bad habit if you utilize it. Not cool at all. Borderline shady if you ask me! Luckily I caught my cld before it reported and was able to make a large payment so it wouldn't report maxed. Unfortunately others aren't as lucky. 

[CreditMagic7]

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@kdm31091 wrote:

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@CreditCuriousity wrote:

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@kdm31091 wrote:

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@visorboy1974 wrote:

75% of my CL.  However, if they don't want me to use it, don't send me the offer with terms that I can transfer UP TO my credit limit.  I paid it down in some good chunks, and it still didn't matter...any big chunk meant another CLD.      

---

I agree with what you are saying but in most cases it is not just doing a balance transfer that triggers AA. With many lenders, doing a BT triggers a review on one's account. So it's likely that during said review, it was determined something else was not up to their par. Just because they send out offers does not mean they aren't going to review your account if you use it.

That said, it seems like based on anecdotal evidence only, doing a BT with Barclay's is rarely a good idea. Every lender has its ins and outs and it simply seems their "review your account" criteria is stricter than most lenders. However, with most AA stories, we are not getting the full picture, only the snapshot of what the poster decides to tell us. I have never done a BT with my Barclay card and don't intend to. If you (not you specifically) find yourself needing to do BTs often, you may be in financial trouble in a sense, which is the whole reason creditors review accounts when you do one.

---

I agree with you on if you do a fairly large BT and a good percentage of your CL then they most likely will review your account prior.. With that said, they should just not honor the BT and decline it before it happens rather than balance chase a person.  Just my thought on it, especially if person if making way larger than needed payment.

Not sure if you are aware of this or not but Barclay's pushes BT's like no one else, they really want you to use them as they make $ of them obviouslly.. It is a fine line what they deem acceptable or not and no one knows this line which is what is messed up at least in my opinion.  This has been an issue with multiple people recently and thus these type of posts.  If you don't want BT's don't push them like crack or before honoring them and then balance chasing someone, just turn them down.  Just my 2 cents

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I agree, it does seem kind of messed up, but there's nothing we can do about it expect learn from what we have heard from others. Ostensibly, that means avoiding BTs with Barclays realistically unless you have zero other options.

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Wow, just realized what a great scam if it's part of a business practice.

You promote BT offers at 0% for x months at a low percentage fee upfront. The cardholder takes up the offer, makes enough of a first payment or payments which exact the BT Fee (BT Fee = Instant Profit) and then choose thru multiple choice reason codes, swoop in to CLD ticking off the cardholder to close that account.

Lender returns the credit limit back to the pool, Rinse and Repeat. What an oustanding profitable business model right?

[Open123]

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@CreditCuriousity wrote:

Not sure if you are aware of this or not but Barclay's pushes BT's like no one else, they really want you to use them as they make $ of them obviouslly.. It is a fine line what they deem acceptable or not and no one knows this line which is what is messed up at least in my opinion.  This has been an issue with multiple people recently and thus these type of posts.  If you don't want BT's don't push them like crack or before honoring them and then balance chasing someone, just turn them down.  Just my 2 cents.   What they don't care about is when they balance chase you they are essentially maxing out your credit on one CL/TL and thus hurting the consumer score wise and credit wise in general which again just isn't right.

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+1

Right, while my experience may purely be a coincidence, I've always utilized their 1% BT fee and 0% promos by writing myself a check.  I just take the funds and invest them in markets.  Last year, it worked out great!  Ah, this year, not so great!  LOL... but, I like to gamble and extremely comfortable with both risk and volatility.

Anyway, since adopting this practice, I've yet to suffer any AA, even in the face of multiple new accounts as I continue to harvest bonuses.  So long as the rates remain 0% and the fee is 1%, I'll continue to use it as both "mini" carry-trade and hedge vs. AA.

[Anonymous]

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@CreditMagic7 wrote:

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@kdm31091 wrote:

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@CreditCuriousity wrote:

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@kdm31091 wrote:

---

@visorboy1974 wrote:

75% of my CL.  However, if they don't want me to use it, don't send me the offer with terms that I can transfer UP TO my credit limit.  I paid it down in some good chunks, and it still didn't matter...any big chunk meant another CLD.      

---

I agree with what you are saying but in most cases it is not just doing a balance transfer that triggers AA. With many lenders, doing a BT triggers a review on one's account. So it's likely that during said review, it was determined something else was not up to their par. Just because they send out offers does not mean they aren't going to review your account if you use it.

That said, it seems like based on anecdotal evidence only, doing a BT with Barclay's is rarely a good idea. Every lender has its ins and outs and it simply seems their "review your account" criteria is stricter than most lenders. However, with most AA stories, we are not getting the full picture, only the snapshot of what the poster decides to tell us. I have never done a BT with my Barclay card and don't intend to. If you (not you specifically) find yourself needing to do BTs often, you may be in financial trouble in a sense, which is the whole reason creditors review accounts when you do one.

---

I agree with you on if you do a fairly large BT and a good percentage of your CL then they most likely will review your account prior.. With that said, they should just not honor the BT and decline it before it happens rather than balance chase a person.  Just my thought on it, especially if person if making way larger than needed payment.

Not sure if you are aware of this or not but Barclay's pushes BT's like no one else, they really want you to use them as they make $ of them obviouslly.. It is a fine line what they deem acceptable or not and no one knows this line which is what is messed up at least in my opinion.  This has been an issue with multiple people recently and thus these type of posts.  If you don't want BT's don't push them like crack or before honoring them and then balance chasing someone, just turn them down.  Just my 2 cents

---

I agree, it does seem kind of messed up, but there's nothing we can do about it expect learn from what we have heard from others. Ostensibly, that means avoiding BTs with Barclays realistically unless you have zero other options.

---

Wow, just realized what a great scam if it's part of a business practice.

You promote BT offers at 0% for x months at a low percentage fee upfront. The cardholder takes up the offer, makes enough of a first payment or payments which exact the BT Fee (BT Fee = Instant Profit) and then choose thru multiple choice reason codes, swoop in to CLD ticking off the cardholder to close that account.

Lender returns the credit limit back to the pool, Rinse and Repeat. What an oustanding profitable business model right?

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But the risk to reputation is so great that it wouldnt be worth it long run. isnt it better to have the same customers that have always paid off their cards using your card and doing bt's often rather than risking it all on the unknown? I dont think its all that smart to do what they do which is CLD for little reason. Im always half expecting them to do so and hopefully they either wont or i will be ready.

[Chilli]

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@Creditaddict wrote:

UPDATE:  Called in and was transferred to a "Portfolio Specialist" who asked for updated work and income information and then placed me on hold to review reinstatement.

After a 5+ minute hold he asked about the new accounts and then stated he could not reinstate CL because of the new accounts and new inquiries since opening the card.

I told him to CLOSE THE ACCOUNT

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I can't figure out why Barclays would CLD people Around the holidays. I would've thought they would wait until they rake in all the swipe fee, etc from the holiday shopping.🤑

I have a rewards (over 1 1/2 years) and a ring (8 months old) with them.  I opened 5 new accounts since I opened my ring 8 months ago...3 new accts opened this week with Penfed. 

I am grateful for Barclays giving me the opportunity to rebuild with them but i will close them at the 1st sign of any AA.

[Anonymous]

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@CreditCuriousity wrote:

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@kdm31091 wrote:

---

@visorboy1974 wrote:

75% of my CL.  However, if they don't want me to use it, don't send me the offer with terms that I can transfer UP TO my credit limit.  I paid it down in some good chunks, and it still didn't matter...any big chunk meant another CLD.      

---

I agree with what you are saying but in most cases it is not just doing a balance transfer that triggers AA. With many lenders, doing a BT triggers a review on one's account. So it's likely that during said review, it was determined something else was not up to their par. Just because they send out offers does not mean they aren't going to review your account if you use it.

That said, it seems like based on anecdotal evidence only, doing a BT with Barclay's is rarely a good idea. Every lender has its ins and outs and it simply seems their "review your account" criteria is stricter than most lenders. However, with most AA stories, we are not getting the full picture, only the snapshot of what the poster decides to tell us. I have never done a BT with my Barclay card and don't intend to. If you (not you specifically) find yourself needing to do BTs often, you may be in financial trouble in a sense, which is the whole reason creditors review accounts when you do one.

---

I agree with you on if you do a fairly large BT and a good percentage of your CL then they most likely will review your account prior.. With that said, they should just not honor the BT and decline it before it happens rather than balance chase a person.  Just my thought on it, especially if person if making way larger than needed payment.

Not sure if you are aware of this or not but Barclay's pushes BT's like no one else, they really want you to use them as they make $ of them obviouslly.. It is a fine line what they deem acceptable or not and no one knows this line which is what is messed up at least in my opinion.  This has been an issue with multiple people recently and thus these type of posts.  If you don't want BT's don't push them like crack or before honoring them and then balance chasing someone, just turn them down.  Just my 2 cents.   What they don't care about is when they balance chase you they are essentially maxing out your credit on one CL/TL and thus hurting the consumer score wise and credit wise in general which again just isn't right.

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This got me thinking if they offer them, hoping/assuming you won't pay it off in time and they'll start making interest off you. THEN they look and see you've got plenty of other options and figure out 'nope, we're not going to make money off this one..

[visorboy1974]

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@kdm31091 wrote:

---

@visorboy1974 wrote:

75% of my CL.  However, if they don't want me to use it, don't send me the offer with terms that I can transfer UP TO my credit limit.  I paid it down in some good chunks, and it still didn't matter...any big chunk meant another CLD.      

---

I agree with what you are saying but in most cases it is not just doing a balance transfer that triggers AA. With many lenders, doing a BT triggers a review on one's account. So it's likely that during said review, it was determined something else was not up to their par. Just because they send out offers does not mean they aren't going to review your account if you use it.

That said, it seems like based on anecdotal evidence only, doing a BT with Barclay's is rarely a good idea. Every lender has its ins and outs and it simply seems their "review your account" criteria is stricter than most lenders. However, with most AA stories, we are not getting the full picture, only the snapshot of what the poster decides to tell us. I have never done a BT with my Barclay card and don't intend to. If you (not you specifically) find yourself needing to do BTs often, you may be in financial trouble in a sense, which is the whole reason creditors review accounts when you do one.

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The only other thing that happened to me was I received CLIs on a bunch of cards.  

[gdale6]

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@Chilli wrote:

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@Creditaddict wrote:

UPDATE:  Called in and was transferred to a "Portfolio Specialist" who asked for updated work and income information and then placed me on hold to review reinstatement.

After a 5+ minute hold he asked about the new accounts and then stated he could not reinstate CL because of the new accounts and new inquiries since opening the card.

I told him to CLOSE THE ACCOUNT

---

I can't figure out why Barclays would CLD people Around the holidays. I would've thought they would wait until they rake in all the swipe fee, etc from the holiday shopping.🤑

I have a rewards (over 1 1/2 years) and a ring (8 months old) with them.  I opened 5 new accounts since I opened my ring 8 months ago...3 new accts opened this week with Penfed. 

I am grateful for Barclays giving me the opportunity to rebuild with them but i will close them at the 1st sign of any AA.

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If you are considered to be a risk to the bank the last thing they would want you to do is run up a bunch of Holiday binge charges and then not be able to pay them back. The profit from the swipe and other fees would not cover the loss.

[Chilli]

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@gdale6 wrote:

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@Chilli wrote:

---

@Creditaddict wrote:

UPDATE:  Called in and was transferred to a "Portfolio Specialist" who asked for updated work and income information and then placed me on hold to review reinstatement.

After a 5+ minute hold he asked about the new accounts and then stated he could not reinstate CL because of the new accounts and new inquiries since opening the card.

I told him to CLOSE THE ACCOUNT

---

I can't figure out why Barclays would CLD people Around the holidays. I would've thought they would wait until they rake in all the swipe fee, etc from the holiday shopping.🤑

I have a rewards (over 1 1/2 years) and a ring (8 months old) with them.  I opened 5 new accounts since I opened my ring 8 months ago...3 new accts opened this week with Penfed. 

I am grateful for Barclays giving me the opportunity to rebuild with them but i will close them at the 1st sign of any AA.

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If you are considered to be a risk to the bank the last thing they would want you to do is run up a bunch of Holiday binge charges and then not be able to pay them back. The profit from the swipe and other fees would not cover the loss.

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I would agree if there were real risk involved but most threads have reported AA for a balance transfer and or opening a couple of new accts or having a couple of new inquiries. 

I don't get it, why would one who is paying their bills...more then the min bal. be a risk?