Creditors that will CLD you at the drop of a hat

[CreditGuy03]

After opening up two cards in the last 2 months. Barclays this morning decided to cut my credit with them from 7k to 5k. I called and they said it was to limit their exposure.

These guys are off their rocker and are more sensitive than a baby.

So that being said what are some other creditors out there that get spooked very easy and will give you a CLD for the slightest of reasons?

First on the List

BarclayCard

[dragontears]

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@CreditGuy03 wrote:

After opening up two cards in the last 2 months. Barclays this morning decided to cut my credit with them from 7k to 5k. I called and they said it was to limit their exposure.

These guys are off their rocker and are more sensitive than a baby.

So that being said what are some other creditors out there that get spooked very easy and will give you a CLD for the slightest of reasons?

First on the List

BarclayCard

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pretty much every lender will perform AA if you exhibit behavior they find risky (and they notice). The only real varible is what each lender finds risky

[Involver]

The only reason a bank will ever take AA on you is due to risk.

So, there is no other "slightest of reasons" than limiting their risk.  

It's all based on complex models and statistics based on innumerable amounts of data across decades, and decisions are often made by computers.

[Anonymous]

Anyone can face this at anytime. Staying "under the radar" by making regular more than minimun payments, keeping utilization on each account under 30%, keeping overall utilization under 12%. Just my take on it can help, but not guarantee this doesn't happen to any of us.

[visorboy1974]

1. Barclays

2. Barclays

3. Barclays

Need I say more?  

[GirlMelanie89]

Second on the list:

DISCOVER

[ddemari]

BOA
BARCLAYS
COMENITY

[Anonymous]

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@Involver wrote:

The only reason a bank will ever take AA on you is due to risk.

So, there is no other "slightest of reasons" than limiting their risk.  

It's all based on complex models and statistics based on innumerable amounts of data across decades, and decisions are often made by computers.

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Good points!

It's important to keep in mind all the possibilities and factors when considering limit lowering and card closing. Missed payments, collection reports, defaults, criminal records, regularly high utilization, high numbers of inquiries and new accounts, high monthly debt to income ratio, and occasionally high total credit limit to yearly income ratio can all negatively impact how banks view their customers. And each bank has their own algorithms to determine the weight and limits for each of these factors. In most cases, adverse action happens as a result of multiple factors being cumulatively over the tolerance limit rather than a single factor that we see.

[CreditGuy03]

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@ddemari wrote:
BOA
BARCLAYS
COMENITY

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Yes I forgot about BOA.

My wife had  a card with them years ago. She inquired about if they had some sort of hardship program and if her card was eligible for it. Her asking that question caused them to close the account during that phone call. They put her on hold and came back and said we closed your account. She was floored.

No one lost their job. Util was around 25% on that card at the time. She was just inquiring about programs they had. They never did open that back up.

[CreditGuy03]

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@Involver wrote:

The only reason a bank will ever take AA on you is due to risk.

So, there is no other "slightest of reasons" than limiting their risk.  

It's all based on complex models and statistics based on innumerable amounts of data across decades, and decisions are often made by computers.

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No there are some banks that use just more than "RISK" to CLD you. Some do get spooked major easy and some times it isnt even warranted. Look at my BOA post above.