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09Lexie
Posts: 22,538
Registered: ‎09-13-2012

Re: Oh no! Barclay's CLD

Super Contributor
enharu
Posts: 6,828
Registered: ‎02-27-2013

Re: Oh no! Barclay's CLD

If they are taking AA against customers because of this, I say screw them. They had an "extremely difficult" year because they got caught breaking the law. Consumers were screwed during the process and I don't detect even the slightest tone of apology.

Whether customers get AA should be dependent upon the risk analysis of the customer itself. If they are taking AA against customers just because they are required to pay a fine, they are essentially shafting their customers again after getting caught red handed for shafting their customers through illegal means.
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Senior Contributor
longtimelurker
Posts: 4,199
Registered: ‎04-22-2013

Re: Oh no! Barclay's CLD


enharu wrote:
If they are taking AA against customers because of this, I say screw them. They had an "extremely difficult" year because they got caught breaking the law. Consumers were screwed during the process and I don't detect even the slightest tone of apology.

Whether customers get AA should be dependent upon the risk analysis of the customer itself. If they are taking AA against customers just because they are required to pay a fine, they are essentially shafting their customers again after getting caught red handed for shafting their customers through illegal means.

Well, I didn't post the lots of pages of how they are going to "transform the culture" to make Barclays PLC a fine upstanding place blah blah blah because it makes me feel sick (and reminds me of my employer's similar nonsense).  They also talk about all the charitable work they do, perhaps with their ill-gotten gains...  But the AA action almost certainly is unrelated to this except for culture, the amounts involved in cutting off US cardholders is just insignificant.

 

 

Unrelated rant:

 

But!  If you put the LIBOR scandal in a book, people would say it is too unbelievable....  For those that don't know, the LIBOR rate controls trillions of dollars, most ARMs are linked directly or otherwise.  So how was the important index set?  Each day, a group of banks were asked to ESTIMATE how much interest they thought they would have to pay to borrow from each other (London Interbank..).  The highest and lowest estimates are discarded and the rate set for the day from the average of the remaining ones.   But these aren't "banks", these are people.  And these people, either themselves or for their friends, realized that, depending on what transactions were planned for that day, it would be good if the rate went up (or down) a little, so they supplied estimates a little higher or lower than they would otherwise.  Stupidly there are email trails detailing this.  All because you just had to supply estimates, with no real transactions involved.

 

Last week Libor was sold to the group that operates NYNEX for 1 pound.  Critics point out exactly the same self-interest is involved in the new group, but even less transparently.  But we are told it will all work for the best.  And LIBOR is so pervasive, that even when it was revealed as a sham last year, nothing was able to replace it.

 

 


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Regular Contributor
mr_postman
Posts: 179
Registered: ‎01-17-2008

Re: Oh no! Barclay's CLD

first of all let me:smileyvery-happy:Barclay I opened my apple card 1 year ago yesterday they CLD me I called told csr what happened he read me the letter they suppose to send out for the decrease bla bla....

 

he said it was lowered due to 

something like proportion of payment is to low to balance I told him I pay in full every month then he checked my payment history and big pause......I dont know what to say sir. :smileyvery-happy: what a joke anyways to make my day better today i ask for increase on my Home Depot card and  yes within 6 months i went from $500 to 16.5K  I also hit up Bank of America within 6 months my card went to 4k to 17.5k oy yeah  I did close BARCLAY:smileyvery-happy:

Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008

Re: Oh no! Barclay's CLD

Congrats in getting your CL reinstated! You dont hear these stories as much:smileyhappy:


$100K in Credit
Last Credit Card App: 11/16/13
Valued Contributor
FinStar
Posts: 5,156
Registered: ‎10-21-2012

Re: Oh no! Barclay's CLD


09Lexie wrote:
Guess they are taking it out on the cardholders. :smileylol:

It sure sounds like it doesn't it?

 

 

Contributor
leoment
Posts: 218
Registered: ‎11-25-2012

Re: Oh no! Barclay's CLD

Very disappointing to hear about Barclay's acting like this.  I'm glad I didn't bite for the 2% Priceline Visa when it was still available.  I'm pretty sure I won't be seeking any cards with Barclays in the future unless it involves a large sign up bonus.  Even then I might not keep it.


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Valued Contributor
kevinjjc
Posts: 1,269
Registered: ‎01-14-2009

Re: Oh no! Barclay's CLD

Did it cost you a hard pull to reinstate your credit limit?

Established Contributor
bernhardtra
Posts: 860
Registered: ‎10-15-2011

Re: Oh no! Barclay's CLD

I kinda worry they will CLD me, since my account has been open a year and no CLI.  Well almost a year, I think it is a year next month.  I am sure they don't like me since I have opened up a bunch of cards, most better than theirs.


Credit is just like a video game. Some people have already gotten the experience from other games. Others, well they just have to learn. You go out on a quest. If you die or get wounded you just restart from the last save point or heal. Unlike a video game, we don't have a last save point or magic potions to heal instantly.

So maybe one day we will get a SIMs credit game so we can prepare better for real life.
Senior Contributor
youngandcreditwrthy
Posts: 5,994
Registered: ‎08-16-2012

Re: Oh no! Barclay's CLD

Well, I had a $2k+ balance on it, but I've frequently pif'ed... Since March 2012 I've charged about $10.9k with about $8.5k of that being pif. I have a $2,400 bal atm. Was going to pay it, but now I won't pif- i'll just make the min. Why have a 7700 cl if I can't use it? It's at 3.99% apr. Once this is a zero balance card, I will try to convert it to a Ring card or something more useful!
Personally, I don't care how they run their business; there is no excuse for conducting fraudulent banking practices. How hard can being a bank be anyway? You have the Fed backing you on many asset backed securities and you're charging 20+ % on cc debt. Banks like to make the rules, not play by the rules. GSEs are backed by the gov't! Guaranteed cash flow!
Reinstatement of my account required no hard pull. @postman, they told me the exact same reason!!!!! Could be that their illegal activities need them to be paid back more quickly.

Idk what you're inferring lhcole? That I've left info out of my story? Fact is, any bank/creditor at any time can cut or cld for any reason. I've not left any info out of my story, and Barclay's aa could happen to anyone.
Furthermore, I've gone my whole credit life with no aa except in 2008 when Chevron lowered my cl from $400 to $180 LOL...
So to have a $160k+ in cred and have Chiti or Barclay's get spooked is nbd.
Also worth mentioning that the average American ONLY has $19k total revolving credit per creditcards.com.... So if you have more than that, you're an outlier.
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