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If I take advantage of a Barclaycard balance transfer.....

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SEBanker
Valued Member

If I take advantage of a Barclaycard balance transfer.....

are they just going to turn around and reduce my limit or some other form of adverse action?

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: If I take advantage of a Barclaycard balance transfer.....


@SEBanker wrote:

are they just going to turn around and reduce my limit or some other form of adverse action?


No.  Why would they?

Message 2 of 6
SEBanker
Valued Member

Re: If I take advantage of a Barclaycard balance transfer.....

I have read that's kind of their M.O.

Message 3 of 6
baller4life
Super Contributor

Re: If I take advantage of a Barclaycard balance transfer.....

It certainly can happen. Happened to me. And COMPLETELY caught me off guard cause bt did not max the card. No other card maxed. Only had carried balance a couple months on a 0% offer. Made 2 payments 4 and 5 times minimum. CLD reason was escalating balance on acct(0% util to 65%), Too many new accounts and inqs. So their computer flagged me as a potential risk. Not considering my payment history. Nothing. So we're not friends right now. I've already closed one of their cards and my Sallie Mae is iffy. May or May not keep it. I'm waffling right now. Smiley Mad

Message 4 of 6
vayub4
Regular Contributor

Re: If I take advantage of a Barclaycard balance transfer.....

I took advantage of my card I barely use when they offered 12 months 1% direct deposit to my account... Couldn't say no to $3k loan for just $30 in fees

Discover IT $25,500 Chase Freedom $14,500 CapOne QuickSilver $10,000 Walmart Mastercard $10,000 PayPal Xtras Mastercard $10,000 JCP $7,500 BOA Cash Rewards $6,900 OldNavy Visa $5,000 BarclayCard $3,700 Macys $3,500 HH Gregg $3,500 BestBuy $2,000 Last APP June/2016(useless rental apartment)Inquiries: Trans/7 Exp/16 Eqi/27
(1 Car Loan @2.74%)
Message 5 of 6
Anonymous
Not applicable

Re: If I take advantage of a Barclaycard balance transfer.....


@SEBanker wrote:

are they just going to turn around and reduce my limit or some other form of adverse action?


 

 

I wouldn't think it would be a good idea to do a balance transfer that runs you up to a very high utilization level on your Barclaycard, but I can't imagine that doing a balance transfer that leaves you at a reasonable level of utilization would be a problem.

 

I think any bank could potentially get a bit nervous if you transferred so much that caused you to have high utilization on the card, then made minimum payments, opened a number of other new accounts (credit seeking), and parked the balance on the card and let it sit there for a year as an example. They also look at whether your overall balances on all of your cards are increasing or decreasing as an aggregate. Any or all of those things in combination may create a red flag for the lender. But a reasonable amount transferred that is paid off in a few months  should not be a concern.

Message 6 of 6
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