Dear Barfclays oh why oh why did you close my account.

[myjourney]

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@Duncanrr wrote:

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@Credit-hoarder wrote:

Barclay's is so stupid. I wouldn't have them b/c as long as I'm paying my bills when I'm suppose to, I should be able to apply for as much credit as I fell I can HANDLE without having someone looking over my shoulder.

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Barclay is a bank and has obligations to its share holders to protect its assets.  Whether you feel you can "handle" more debt isn't what matters to them.  They have a fiduciary duty to determine whether your outstanding credit obligations and credit seeking behavior present a risk to them.  This has nothing to do with whether or not you pay on time but whether your profile presents an unacceptable risk to them.

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This is a common mistake people forget and should act and think as a shareholder ...Good point Duncanrr

Wouldn't you watch your investment if it were your money being loaned out? Of course you would 

[Credit-hoarder]

So I'm the ONLY one seeing them as just a little too paranoid?

[Duncanrr]

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@Credit-hoarder wrote:

So I'm the ONLY one seeing them as just a little too paranoid?

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No, they are a little paranoid    They are agressive in their monitoring of new accounts.  Much more than most lenders.  I just think that you need to get to know your bank before you enter into a relationship with them.  Just as a bank does a credit check on you prior to extending you credit, you should do a bank check on them to see what they are like and how they have handled credit in the past. 

[coterotie]

I was incredibly paranoid about apping for Barclay's when it popped up that I would be pre-approved.  So I got the Sportsman's visa before I apped then immediately apped for the Barclay's.  Got them both.   Waited a couple of months to apply for the card I really wanted which was the Marriott Chase got that one and haven't touched an application button since.  Trying to keep the Barclay's pretty much paid off, but since it is a Mastercard end up using it when I'm at Sam's and my wife has the debit card.

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@Credit-hoarder wrote:

So I'm the ONLY one seeing them as just a little too paranoid?

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I'm being really careful with it, as I want it to CLI from the initial 1,900 limit.

[suzeeh]

I had the same thing happen with me by American Express.  I had never missed a payment but they saw around $1,200 credit purchase I made for an upcoming cruise and several inquiries (probably four).  They even told me what the purchases they saw were for when I called, so they were going through it with a fine toothed comb.  I think this happens quite often from what I'm hearing.  Too many inquiries when you're trying to rebuild your credit is a real red flag to credit grantors. 

[suzeeh]

By the way, they closed both of my Am Ex account, which were never ever late.  That was $12,000 credit line which then caused my credit utilization to be much higher.  Watch those apps people.

[rlx01]

Barclays just plays a different game to the other lenders. They have zero tolerance, and reduce their exposure ruthlessly. That doesn't make it bad.

[Booboo71]

I understand they have to protect their assets as a bank. I just think it's ridiculous if I had waited 1 year compared to 3 months that would make a difference in their eye's . Yes I have had credit issues before but  they knew this also when they approved me for their card. 

[Booboo71]

I have established credit with others prior to their card but yet those cards haven't shut me down nor have I been late or had high utilization with them.

[Duncanrr]

To get back to the OP's original issue, did you contact them and see if they would reopen the account?