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Be Careful - Barclay Just Lowered my Credit Limit

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Legal_Girl
Frequent Contributor

Re: Be Careful - Barclay Just Lowered my Credit Limit


@Chris679 wrote:
OP did you try to call and have the limit reinstated? If you have a new mortgage, a new auto loan, a bunch of new credit cards and to top it off you are starting to carry large balances on the cards you cannot blame them for wanting to limit the risk. All they did was lower the CL by $1900 dollars and people are acting like the sky is falling here.

As I mentioned in my original post, I'm not going to call them.  I don't recall ever saying I blame them for the decrease.  I guess it just makes no sense.  My mortgage payment is $700 less per month than the house I was renting prior to July and my car payment is $40 less per month.  I am not carrying any large balances.  I later said I was at 26% over all, but that was a typo...it should have been 16% over all.  My Utilization with Barclay on the Rewards MC was 11% at the time and now is down to 5%.  In the long run, it becomes a moot point since their APR is higher than any of my other cards so I really shouldn't be using it anyway.  They lower CLs all the time and close some accounts for the same thing, so don't know how they decide to do what they do.  Neither here nor there...

Homeowner Again as of July 17, 2014. Thanks to the VA and NFCU. FICOs EQ - 786/EX - 782/TU - 778/Quicksilver $3,500 / Cred 1 $2,875 / 1st Natl $4,250/ Kohls Visa $5k / Mercury MC $5,850 / NFCU Visa Sig Cash Rew $27k/ Lowes $25k / Best Buy Visa $11k/ NFCU LOC $15k / Walmart MC $7.5k / Chase Freedom Unlimited $1,500 / Discover IT $27,000 / Discover IT Chrome $21,500 / Citi DC $7,300 / AMEX Blue Cash Preferred $17,500 / Citi Simplicity $18,500 / Citi Premier $8,200 / Care Credit $10k/ AMEX Gold - NSL / Chase Sapphire Preferred $20,500
Message 31 of 33
Legal_Girl
Frequent Contributor

Re: Be Careful - Barclay Just Lowered my Credit Limit


@skigirl916 wrote:

@Legal_Girl wrote:

I only have balances on a few cards, not all of them and my Utilization is, I believe, around 26%, so it's not like I am over 50% or maxed out or anything.  I am not trying to get an 850 Fico.  I bought my house in July, bought a new 2015 SUV in September, so I have no big purchase items to get and not looking for any more CC's.  So if my scores drop a few points here and there, it isn't the end of the world.  It is just the idea that it happed at all. 


That's still pretty high for an overall UTL for Barclays.

 

What was your UTL just with Barlcays? Over 30%? 50%?


The 26% over all was a typo.  It should have been 16% over all with Barclay MC having only an 11% utilization.  It is now down to 5%.

Homeowner Again as of July 17, 2014. Thanks to the VA and NFCU. FICOs EQ - 786/EX - 782/TU - 778/Quicksilver $3,500 / Cred 1 $2,875 / 1st Natl $4,250/ Kohls Visa $5k / Mercury MC $5,850 / NFCU Visa Sig Cash Rew $27k/ Lowes $25k / Best Buy Visa $11k/ NFCU LOC $15k / Walmart MC $7.5k / Chase Freedom Unlimited $1,500 / Discover IT $27,000 / Discover IT Chrome $21,500 / Citi DC $7,300 / AMEX Blue Cash Preferred $17,500 / Citi Simplicity $18,500 / Citi Premier $8,200 / Care Credit $10k/ AMEX Gold - NSL / Chase Sapphire Preferred $20,500
Message 32 of 33
Legal_Girl
Frequent Contributor

Re: Be Careful - Barclay Just Lowered my Credit Limit


@john398 wrote:

I too have had a CLD from Barclays, went from 2k to $1700, so itsee getting sock drawed


Sorry to hear that.  Barclay seems to be extremely busy right now..

Homeowner Again as of July 17, 2014. Thanks to the VA and NFCU. FICOs EQ - 786/EX - 782/TU - 778/Quicksilver $3,500 / Cred 1 $2,875 / 1st Natl $4,250/ Kohls Visa $5k / Mercury MC $5,850 / NFCU Visa Sig Cash Rew $27k/ Lowes $25k / Best Buy Visa $11k/ NFCU LOC $15k / Walmart MC $7.5k / Chase Freedom Unlimited $1,500 / Discover IT $27,000 / Discover IT Chrome $21,500 / Citi DC $7,300 / AMEX Blue Cash Preferred $17,500 / Citi Simplicity $18,500 / Citi Premier $8,200 / Care Credit $10k/ AMEX Gold - NSL / Chase Sapphire Preferred $20,500
Message 33 of 33
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