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Established Contributor
Posts: 868
Registered: ‎10-11-2013
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Re: Dear Barfclays oh why oh why did you close my account.

[ Edited ]

This thread has me paranoid at the moment. I opened 3 accounts after I opened my Barclaycard (and I've closed two). My available credit has gone up by quite a bit, too. I only let 2% UTIL report, though. So hopefully they won't nuke my account. My 6th statement is coming up in 5 days. I haven't opened any new accounts in the last two months, though, and they haven't nuked it yet. This thread makes me want to garden forever.

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$15000 ........... $12500 ............ $11750 ............ $10000 ........... $9400 ............ $5000 ............. $5000
In the Garden until at least November 2015
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Senior Contributor
Posts: 30,826
Registered: ‎02-07-2013
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Re: Dear Barfclays oh why oh why did you close my account.


ccuser wrote:

09Lexie wrote:
Again, let me emphasize they are not being paranoid.  Twelve in 3 months will spook any lender

OK, let's say they are sensitive. Just wanted to know who else is.


12 new accounts in 3 months all lenders are sensitive too.....(ALL)

Think about it this way 1 app per week....

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Valued Contributor
Posts: 1,599
Registered: ‎11-10-2012
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Re: Dear Barfclays oh why oh why did you close my account.

[ Edited ]

myjourney wrote:

Booboo71 wrote:

I took advantage of the balance offer with 15 months 0%at the end of October. I had a 1700 credit line and used 1350 for the balance transfer. I just made a 469.00 payment that posted and they closed it the next day. Inquires?? I'm embarrassed to say 12 since opening with them and getting some new cards afterwards.


We don't see as many closings as we use to earlier in the year

Honestly sorry it happened to you but 12 new accounts after a barclay approval 3 months ago with a lender know to be INQ sensitive was pushing it


I agree...to a degree. I agree with a lender being inquiry sensitive BEFORE apping with them, but after you have been approved, only your performance with their card should be a factor. Just my opinion...personally I never want to deal with as lender like Barclays.

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Community Leader
Valued Contributor
Posts: 1,081
Registered: ‎05-28-2013
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Re: Dear Barfclays oh why oh why did you close my account.


chwebb1 wrote:

This thread has me paranoid at the moment. I opened 3 accounts after I opened my Barclaycard (and I've closed two).


Haha same here but it is what it is and there's nothing we can do about it now.  I've also opened quite a few new accounts after I got the Arrival card and just got a CLI from Barclay a couple of days ago.  All is calm at the moment!    *knock on wood*

 

Smiley Very Happy


Experian score (Amex) 734; Transunion score (Barclay) 732
Established Contributor
Posts: 1,021
Registered: ‎11-08-2012
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Re: Dear Barfclays oh why oh why did you close my account.

Then they shouldn't offer it 

Established Contributor
Posts: 1,021
Registered: ‎11-08-2012
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Re: Dear Barfclays oh why oh why did you close my account.

Also my payment was posted before the due date.

Community Leader
Senior Contributor
Posts: 30,826
Registered: ‎02-07-2013
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Re: Dear Barfclays oh why oh why did you close my account.

Paranoid is not the issue here any and all lenders will react to this type of credit usage 

Almost all cases of Barclay closing or CLD's when you peel back the layers you find something that would scare any lender and sad to say but in this case and sorry OP I mean no harm but just stating facts... He/She may see other lenders follow....So are they paranoid too?

 

I have Barclay @ 5 1/4 months I did a spree 4 for 4 

One week later Barclay gave me an auto CLI 3X

5 1/4 months later and not a peep out of them ....none....nada....zip...

I'm actually looking for another auto CLI about now.

 

Barclay gets a bad rap for people doing things and sending the message of being credit hungry or in old lenders terms in financial trouble and using CC's to survive which isn't always the case but this term has been around since CC's began and has always been a NO-NO

IMHO

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
0

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


indiolatino61 wrote:

myjourney wrote:

Booboo71 wrote:

I took advantage of the balance offer with 15 months 0%at the end of October. I had a 1700 credit line and used 1350 for the balance transfer. I just made a 469.00 payment that posted and they closed it the next day. Inquires?? I'm embarrassed to say 12 since opening with them and getting some new cards afterwards.


We don't see as many closings as we use to earlier in the year

Honestly sorry it happened to you but 12 new accounts after a barclay approval 3 months ago with a lender know to be INQ sensitive was pushing it


I agree...to a degree. I agree with a lender being inquiry sensitive BEFORE apping with them, but after you have been approved, only your performance with their card should be a factor. Just my opinion...personally I never want to deal with as lender like Barclays.


Trust me when I say Amex and Chase are watching your CR's closely. barclays is not the lender that does AA/CLDs.  A few months ago, GE was taking it to people for asking for CLI's on their own cc's. 

 

Considering the facts as stated, i am not surprised they took the step they did-although unfortunate too much too fast on what sounds like a credit profile that is in the rebuilding stage is just plain risky. 

Established Contributor
Posts: 1,021
Registered: ‎11-08-2012
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Re: Dear Barfclays oh why oh why did you close my account.

When I originally posted this post today I was merely stating that buy them closing me like this for no reason in hurting them it doesn't make sense... The other cards see no issue with giving me credit along with having credit with them... Again my cc did not close me or decrease me because I was approved for their card. Just trying to build a relationship with them.

Established Contributor
Posts: 961
Registered: ‎12-05-2013
0

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

Myjourney.. tomorrow is your big day.  Farming season over.  Plz let us know if you decided to increase # of cards or LCI?  And how many bullets ( INQ ) you took.  

 

Thx 

 

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