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Frequent Contributor
LisaJ
Posts: 390
Registered: ‎11-06-2008
0

Carrying a Balance on Barclays

[ Edited ]

Hi, all!

 

I apologize if this has been asked, but how many of you successfully (meaning without CLD or other penalty) carry a balance on Barclays?

 

I've posted before about  this, I think, but my main rationale in getting a BarclayCard was to purchase a Macbook Pro. I was set to app for the Apple card, but  In looking at the Apple financing card vs the rewards card, it made more sense to go with the rewards--typically higher initial CLs, no "balloon interest", and the same terms: 12 months apr on the item I'm planning to purchase.  As a bonus, I used a link that will give me $100 in rewards, so I am basically saving $100 on the item.

 

However, since I did go with a rewards card instead of a financing card...is it ill-advised to carry a balance?  It will be paid off well before the 12 months, but I will have to carry a bvalnce for a bit.  I'll also be using the card for utilities, but those will PIF every month, along with a healthy amount to chip away at the larger purchase.  My CL is $7500, and my overall util will be under 9%.

 

I feel like in my research, it appears that Barclays likes for you to have a balance--it seems like those who got auto CLI were often doing so--but I'm concerned that it'sa such a large purchase, and I am interested in thoughts and experiences.  While I went into this knowing Barclays might shut me down or CLD me (I apped for Amex and Discover a few days prior), I'd nevertheless like to keep them in my profile, as they were very generous with initial limits and the 2% rewards on utilities is good motivation.

 

Edited to correct percentage/rewards.

WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Carrying a Balance on Barclays


LisaJ wrote:

Hi, all!

 

I apologize if this has been asked, but how many of you successfully (meaning without CLD or other penalty) carry a balance on Barclays?

 

I've posted before about  this, I think, but my main rationale in getting a BarclayCard was to purchase a Macbook Pro. I was set to app for the Apple card, but  In looking at the Apple financing card vs the rewards card, it made more sense to go with the rewards--typically higher initial CLs, no "balloon interest", and the same terms: 12 months apr on the item I'm planning to purchase.  As a bonus, I used a link that will give me $100 in rewards, so I am basically saving $100 on the item.

 

However, since I did go with a rewards card instead of a financing card...is it ill-advised to carry a balance?  It will be paid off well before the 12 months, but I will have to carry a bvalnce for a bit.  I'll also be using the card for utilities, but those will PIF every month, along with a healthy amount to chip away at the larger purchase.  My CL is $7500, and my overall util will be under 9%.

 

I feel like in my research, it appears that Barclays likes for you to have a balance--it seems like those who got auto CLI were often doing so--but I'm concerned that it'sa such a large purchase, and I am interested in thoughts and experiences.  While I went into this knowing Barclays might shut me down or CLD me (I apped for Amex and Discover a few days prior), I'd nevertheless like to keep them in my profile, as they were very generous with initial limits and the 2% rewards on utilities is good motivation.

 

Edited to correct percentage/rewards.


 Barclays gave me a 6 month auto-CLI  on the Rewards card when most of the time my balance was zero or near zero.
Frequent Contributor
phillyguy12
Posts: 345
Registered: ‎03-16-2011
0

Re: Carrying a Balance on Barclays

i got barclays rewards master, coming up on the faithful 6 months i've been running 600 a month on avg threw it and pif or carry a small bal like 200 over to the next month, i only have 1300 limit but haven't had any real issues thus far, only thing i ran into is their payment policy, i ran a lot threw it one month and needed to make multiple payments to avoid hitting the limit and found out you have to space payments out 2 weeks other wise they hold funds for 7 days. i have heard as i am sure you have too they are app sensitive i only had 1 app since i got it and haven't had any issues


Amx BCE-9000,Amx Zync-NSPL
Barclay's Mastercard-5600
Credit Union Visa-1200
Discover-1900, Khols-1000
Frequent Contributor
LisaJ
Posts: 390
Registered: ‎11-06-2008
0

Re: Carrying a Balance on Barclays

Thank you.  That's good information to add to my anecdotal evidence on this.  I do feel like it's more acceptable to carry a balance on the financing card, since that is the way it is designed.  I am really struggling with this because I am not a big-ticket spender in general unless I can buy out right or PIF in a month or two. I'm fairly conservative on that end.  In this case, though, I need a laptop for work, so a bit up against a wall and trying to decide which card is least liekly to freak on me.  Actuaolly, I know Chase is generally ok--they gave me an ink with a rather high balance (for me) on my CSP.  BUT, I want to avoid interest.

 

Decisions, decisions...

WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Established Member
ttaurean30
Posts: 38
Registered: ‎03-16-2013
0

Re: Carrying a Balance on Barclays

My Juniper stays at about 28% util. but they keep giving me CLI's.

Rebuilding since BK Discharge on 09/2006
Gardening Since 02/19/2013
Credit.com (707) Credit Sesame (801) Walmart (709) Credit Karma (688) Quizzle (714)


Senior Contributor
john398
Posts: 3,526
Registered: ‎01-19-2009
0

Re: Carrying a Balance on Barclays

On my barclays card I made the mistake of not paying it off in 6 months and incurred all the intrest put me over my limit but now I am under my limit, have had the card 21 months and no CLI (I am sure due to high util) however they have not closed my account either

Valued Contributor
SpecFile
Posts: 1,375
Registered: ‎08-07-2007
0

Re: Carrying a Balance on Barclays

I currently carry less than a 1% balance on my Rewards MC but have carried much higher balances in the past due to a 0% offer. They have never given me any trouble whatsoever and have given me regular CLIs. Good luck!!
Frequent Contributor
sassymomof2
Posts: 280
Registered: ‎04-16-2011
0

Re: Carrying a Balance on Barclays


phillyguy12 wrote:

i got barclays rewards master, coming up on the faithful 6 months i've been running 600 a month on avg threw it and pif or carry a small bal like 200 over to the next month, i only have 1300 limit but haven't had any real issues thus far, only thing i ran into is their payment policy, i ran a lot threw it one month and needed to make multiple payments to avoid hitting the limit and found out you have to space payments out 2 weeks other wise they hold funds for 7 days. i have heard as i am sure you have too they are app sensitive i only had 1 app since i got it and haven't had any issues



I have not experienced that.  I can make a payment every couple of days and it doesn't get held.  I made $900 in payments last statement cycle.  It may take up to two days to reflect online.

 

Regarding OP's question, I carried an average balance between 55% to 60% before my credit line increase.  This month my balance was $275 when my statement with a credit limit increase to $3,000. 

 

Anyway, I learned by trial and error that Barclays prefers you to revolve while Discover doesn't.  


Starting Fico Feb 2011 EQ 570 TU 580 EX ?
May 2014 EQ 709 EX 684 TU discover 665

Closed on first home April 26, 2012!
Last app August 2, 2014. Gardening indefinitely!!!
Valued Contributor
SpecFile
Posts: 1,375
Registered: ‎08-07-2007
0

Re: Carrying a Balance on Barclays


sassymomof2 wrote:

phillyguy12 wrote:

i got barclays rewards master, coming up on the faithful 6 months i've been running 600 a month on avg threw it and pif or carry a small bal like 200 over to the next month, i only have 1300 limit but haven't had any real issues thus far, only thing i ran into is their payment policy, i ran a lot threw it one month and needed to make multiple payments to avoid hitting the limit and found out you have to space payments out 2 weeks other wise they hold funds for 7 days. i have heard as i am sure you have too they are app sensitive i only had 1 app since i got it and haven't had any issues



I have not experienced that.  I can make a payment every couple of days and it doesn't get held.  I made $900 in payments last statement cycle.  It may take up to two days to reflect online.

 

Regarding OP's question, I carried an average balance between 55% to 60% before my credit line increase.  This month my balance was $275 when my statement with a credit limit increase to $3,000. 

 

Anyway, I learned by trial and error that Barclays prefers you to revolve while Discover doesn't.  


I have never heard of Discover not wanting customers to revolve. You would think that there's money to be made in interest.
Frequent Contributor
sassymomof2
Posts: 280
Registered: ‎04-16-2011
0

Re: Carrying a Balance on Barclays


SpecFile wrote:

sassymomof2 wrote:

phillyguy12 wrote:

i got barclays rewards master, coming up on the faithful 6 months i've been running 600 a month on avg threw it and pif or carry a small bal like 200 over to the next month, i only have 1300 limit but haven't had any real issues thus far, only thing i ran into is their payment policy, i ran a lot threw it one month and needed to make multiple payments to avoid hitting the limit and found out you have to space payments out 2 weeks other wise they hold funds for 7 days. i have heard as i am sure you have too they are app sensitive i only had 1 app since i got it and haven't had any issues



I have not experienced that.  I can make a payment every couple of days and it doesn't get held.  I made $900 in payments last statement cycle.  It may take up to two days to reflect online.

 

Regarding OP's question, I carried an average balance between 55% to 60% before my credit line increase.  This month my balance was $275 when my statement with a credit limit increase to $3,000. 

 

Anyway, I learned by trial and error that Barclays prefers you to revolve while Discover doesn't.  


I have never heard of Discover not wanting customers to revolve. You would think that there's money to be made in interest.

There are several threads that emphasize that Discover prefers PIF.  But, that is another subject.  To stay on task, we'll just stick to Barclay's experience.  My apologies for any diversion.  :smileyvery-happy:

Starting Fico Feb 2011 EQ 570 TU 580 EX ?
May 2014 EQ 709 EX 684 TU discover 665

Closed on first home April 26, 2012!
Last app August 2, 2014. Gardening indefinitely!!!

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