I Closed All Barclays Cards Today!

B335is · ‎09-24-2015

I wasn't going to post this but I got to thinking it may be helpful to others out there. Some background, Barclays approved me for the average rewards card a number of years back during my credit rebuild for $750 limit. After a year and various negatives (primarily a paid collection from SoCal Edison $75) fell off, it never grew. So I got the US Airways card instantly for $10k. I subsequently closed the rewards card. That was early 2014 and since then they approved me for Hawaiian Personal $12k and Wyndham Rewards $2k most recently. Well in late August I closed Wyndham and reapplied for it the same day. Instantly declined. So a few weeks later I tried Hawaiian Biz and Ring. All instantly pending (checked app status immediately and declined).

So last week I got AA letters for both remaining accounts (Hawaiian and Aviator). My Hawaiian limit was lowered from $12k to $1k (zero balance). My Aviator was lowered from $10k to $2700 ($2300 balance due to using a BT offer, 4 months old). So I immediately closed Hawaiian, the CSR seemed genuinely surprised at how dramatic the CLD was. Then I paid off the Aviator balance in full and got the same reaction from Barclays CSR today. I told her it was clear I was being balance chased and would prefer to end the relationship.

The reason given for AA on both accounts "number of new accts in the last six months." I have quite a few, so I don't blame them, it's a business decision and I knew there were risks going into the other new accts. Also, on the BT deal with Aviator, I was paying 10x the minimum payment which usually ended up being around $250 per month.

So there you have it. My first AA situation and it was none other than Barclays.

baller4life · ‎09-25-2015

Don't feel bad B. They got me too. Cld Ring from $10k to $800 with a $0 balance. I IMMEDIATELY closed that sucka. Sallie Mae cld from $11k to $9300. I had about a month earlier given them a bt of around $8k to take advantage of their 0% apr. Luckily I caught the cld before my statement cut and paid a hefty payment so my util on the card wouldn't report so high. VERY upset with fickle Barclays. I will transfer my balance and never swipe the SM again. I thought long and hard about closing it as well. But I may just sd it and buy a couple .50 Amazon gift cards with it every year. Undecided right now. I'll never app another Barclays card again.

Anonymous · ‎09-25-2015

@baller4life wrote:
Don't feel bad B. They got me too. Cld Ring from $10k to $800 with a $0 balance. I IMMEDIATELY closed that sucka. Sallie Mae cld from $11k to $9300. I had about a month earlier given them a bt of around $8k to take advantage of their 0% apr. Luckily I caught the cld before my statement cut and paid a hefty payment so my util on the card wouldn't report so high. VERY upset with fickle Barclays. I will transfer my balance and never swipe the SM again. I thought long and hard about closing it as well. But I may just sd it and buy a couple .50 Amazon gift cards with it every year. Undecided right now. I'll never app another Barclays card again.

I worry about AA on my ring sometimes. Can you share what about your profile you think spooked them and caused the AA on your ring?

Anonymous · ‎09-25-2015

Sorry to hear about your loss.

B335is · ‎09-25-2015

Thanks for the sympathy! I'm really done with it though. I've always been big on having various relationships, so this experience has reinforced that for me. It's also been a learning experience that I need to stop applying for everything out there.

Anonymous · ‎09-25-2015

You're really making me not want to app for sallie Mae.

baller4life · ‎09-25-2015

@Anonymous wrote:
@baller4life wrote:
Don't feel bad B. They got me too. Cld Ring from $10k to $800 with a $0 balance. I IMMEDIATELY closed that sucka. Sallie Mae cld from $11k to $9300. I had about a month earlier given them a bt of around $8k to take advantage of their 0% apr. Luckily I caught the cld before my statement cut and paid a hefty payment so my util on the card wouldn't report so high. VERY upset with fickle Barclays. I will transfer my balance and never swipe the SM again. I thought long and hard about closing it as well. But I may just sd it and buy a couple .50 Amazon gift cards with it every year. Undecided right now. I'll never app another Barclays card again.
I worry about AA on my ring sometimes. Can you share what about your profile you think spooked them and caused the AA on your ring?

The letter and analyst cited new accounts, inqs and escalating debt or something like that. Apparently they didn't like my Sallie Mae going from $0 to $8k. LOL. Like seriously? You offer a 0% bt but get antsy cause I use it. They are wayyyyy too much for my liking. I've heard horror stories about Barclays but never ever experienced it first hand till now. I am well diversified. So I don't have to take their crap and I won't!

-Cal- · ‎09-25-2015

sorry for your loss, thanks for sharing the info. How many recent accounts did you acquire?

Anonymous · ‎09-25-2015

Wow that's just crazy. I don't have any Barclay cards and I'm glad I don't.

kdm31091 · ‎09-25-2015

If it taught you one positive thing (i.e. dont app like crazy) then it at least did something good for you.

Nevertheless im sorry to hear. The more I see and here about barclay, honestly, they are unappealing and unfriendly. I have a upromise for online shopping, wouldn't be devastated if they closed it, but stories like this pretty much seal the deal that id never rely on one of their cards as my daily driver or anything.

I had a sallie, closed it. Not due to AA or anything. Just found it not great for my spend and overrated. I think most of their cards are average and overrated at best.