First CLD. Barclays BnN Card

[msheresy]

I received a letter Friday from Barclays that they decided to lower my $850 cl to $500.  I've always PIF and not always before the statement cut but I have never carried a blance where I have paid interest.  I have only actually used this card at Barnes and Noble except twice.  This is my first cld and needless to say, like everyone else, I"m not very happy.  I cant decide if I want to call and yell and them to close it, or just deal and hope they once things turn around, they raise my credit again.  UGH!!!!

[Anonymous]

What is your normal monthly useage (dollar wise)?

What is your highest balance or useage?

[wmarat]

See what is the best course of action for you. Are those $500 meaningful for you utilization-wise? How much this card contribute to your AAoA? If your utilization is not going to be higher and this is not your oldest card, I would close. JMHO.

[Anonymous]

hi msheresy..there may be lots of reasons why your limit was lowered to 500$..one maybe of your salary/income, and other maybe on their side that they had some financial problems and decided to lower some client's credit limit..

Message Edited by llecs on 05-29-2009 01:38 PM

[llecs]

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nkkiegem123 wrote:
...one maybe of your salary/income...

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How would they know about OP's income?

Message Edited by llecs on 05-24-2009 09:36 PM

[Anonymous]

The banks can now pull your last years tax return and W2 info from the IRS in a few seconds. It is a database that they can belong to for a fee.  I know they are doing it for mortgages and AX has been using it on each of their card holders.  I know it is expanding now.  Cabella's Visa is using it too.

Message Edited by Mark-MD on 05-25-2009 07:07 AM

[Anonymous]

Mark-MD,

Are you sure banks can pull your tax returns and/or W2 without your express written permission?  That would seem to be violation of Privacy Laws.  Do you have authority for your assumption?

[Anonymous]

They can get that info but only if the individual signs an agreement for disclosure to a third party... so unless it is part of the application that you sign giving permission for them to get income verification from the IRS then they would not be able to get your w2's

http://www.irs.gov/individuals/article/0,,id=161649,00.html