topic Re: Barclay decreased my CL without notice!!!!!!! in Credit Cards

Barclay decreased my CL without notice!!!!!!!

raydmercer2345 — Sun, 09 Aug 2015 03:36:18 GMT

Just got an alert for my fico that my barclay rewards card balance increased by 89%. I logged into my credit card account and noticed that my CL was lowered from 5k down to $1500! WTH! I have a balance on that card of $1100. I have another Sallie mae card with a limit of $4500 that I rarely use! This caused my fico score to drop by almost 20 points! What are my options? Please help!

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:37:29 GMT

First I'd call and ask why they reduced your credit line. 22% utilization is peanuts. How long were you carrying the balance for?

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:37:51 GMT

@raydmercer2345 wrote:
Just got an alert for my fico that my barclay rewards card balance increased by 89%. I logged into my credit card account and noticed that my CL was lowered from 5k down to $1500! WTH! I have a balance on that card of $1100. I have another Sallie mae card with a limit of $4500 that I rarely use! This caused my fico score to drop by almost 20 points! What are my options? Please help!

i have heard of limit decrease from them but that's crazy. good luck resolving the issue. have u tried calling them?

Re: Barclay decreased my CL without notice!!!!!!!

raydmercer2345 — Sun, 09 Aug 2015 03:39:34 GMT

I was planning on calling them tomorrow. Ive carried that balance for 4-5 months.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:40:24 GMT

One other thing. Are you carrying high balances on any other cards? Did you have inquiries all of a sudden show up on your Transunion?

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:40:55 GMT

What kind of paydown? Original balance?

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:40:59 GMT

@raydmercer2345 wrote:
I was planning on calling them tomorrow. Ive carried that balance for 4-5 months.

maybe that's why

Re: Barclay decreased my CL without notice!!!!!!!

raydmercer2345 — Sun, 09 Aug 2015 03:43:15 GMT

My highest balances are on my two NFCU cards. I have a 22k limit on each one and about 4k balance on each one. I do have quite a few inquiries over the past 4-5 months.

@Anonymous wrote:
One other thing. Are you carrying high balances on any other cards? Did you have inquiries all of a sudden show up on your Transunion?

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:43:33 GMT

@Anonymous wrote:
@raydmercer2345 wrote:
I was planning on calling them tomorrow. Ive carried that balance for 4-5 months.
maybe that's why
i disagree. Carrying a balance for a few months in not a crime and worthy of cld. there must be other factors to this.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:44:53 GMT

Your balances, dude. Now how about that paydown? Are you paying down 10% or more of the balance monthly? If not, its the balances and slow pay.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:46:17 GMT

Its not a crime per say, but it is a sign of trouble leading to potential default and the issuer has every right to throttle your limit or close the account altogether if they feel uncomfortable with your spending and paying habits.

Re: Barclay decreased my CL without notice!!!!!!!

raydmercer2345 — Sun, 09 Aug 2015 03:47:32 GMT

Havent been paying much more than the min on barclays. I dont use my barlay cards too often. Maybe thats what it is that Im just paying the min the last few months. Never been late on any cards and no neg on credit report.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:49:02 GMT

@Anonymous wrote:
Its not a crime per say, but it is a sign of trouble leading to potential default and the issuer has every right to throttle your limit or close the account altogether if they feel uncomfortable with your spending and paying habits.

I hear what your saying..i just dont agree that carrying a balance is a sign of potential default. If it was a maxed out balanced being carried thats one thing but in op's case it wasnt. It could be a sign of a big purchase being paid down slowly which many people do without being penalized for it.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:50:41 GMT

I agree that the AA taken here is kind of ridiculous. It's not like your util was super high. That being said, the minimum payments for 4-5 months probably spooked them a little.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:53:38 GMT

Ive said it before and I will say it again. Barclay's HATES minimum payments almost as much as late payments or kicked back payments. Talk to an analyst and 3-4x your payments ASAP if you want to get it restored.

Re: Barclay decreased my CL without notice!!!!!!!

kdm31091 — Sun, 09 Aug 2015 04:03:26 GMT

Anytime lenders see minimum payments especially a few times in a row, it raises flags. Does not matter what the util is really, or how often you carry a balance or really anything else. Minimum payments are a sign of trouble. Many, many AA cases start with "I was paying the minimum..."

Make sure you pay double the minimum (or more if possible obviously). Doing this will likely keep you out of future trouble. I've carried balances during 0% promos, albeit not Barclays, but never had a problem - just didn't only pay the minimum. To me it's not so much what Barclay's "likes" or "dislikes". No creditor wants to see minimum payments, period.

As much as it sucks, they aren't required to give you any kind of notice. They sense risk, and so they take action against it. I know someone who works for BOA. Any accounts with constant min payments are flagged in red and reviewed. I'm sure this is similar across all banks. Don't take it personally. Just don't make yourself "risky" in the future.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 03:59:44 GMT

@kdm31091 wrote:
Anytime lenders see minimum payments especially a few times in a row, it raises flags. Does not matter what the util is really, or how often you carry a balance or really anything else. Minimum payments are a sign of trouble. Many, many AA cases start with "I was paying the minimum..."

Make sure you pay double the minimum. Doing this will likely keep you out of future trouble. I've carried balances during 0% promos, albeit not Barclays, but never had a problem - just didn't only pay the minimum. To me it's not so much what Barclay's "likes" or "dislikes". No creditor wants to see minimum payments, period.

As much as it sucks, they aren't required to give you any kind of notice. They sense risk, and so they take action against it. I know someone who works for BOA. Any accounts with constant min payments are flagged in red and reviewed. I'm sure this is similar across all banks. Don't take it personally. Just don't make yourself "risky" in the future.

Thats true! I carry a balance on barclays and pay it off every three months. In between that time I pay multiple payments of twice the minimum per month to make sure not to upset them.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 04:01:45 GMT

AmEx is another issuer that dislikes minimums and long term balance carrying in general.

Re: Barclay decreased my CL without notice!!!!!!!

visorboy1974 — Sun, 09 Aug 2015 04:03:41 GMT

Barclays chased me all the way down to $5750 from $12,500. It seemingly was all sparked by me taking advantage of their 0% BT offer that brought my balance near their limit. This all happened of course while the limits on all of my other cards increased exponentially. I closed them and do not ever expect to go back.

Re: Barclay decreased my CL without notice!!!!!!!

Anonymous — Sun, 09 Aug 2015 04:07:24 GMT

Here is a good one for you. I made an initial deposit of $20,000 on my Citigold this year on my Aviator Red out of a $22,000 credit line. Since I had a 0% promo on purchases going too, I let it report. Paid it all up over 3 months and had no issues with them other than they still wont raise my credit ceiling with them.