topic Re: Barclaycard Lowered CL in Credit Cards

Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 15:41:55 GMT

As I would figure, Barclaycard just sent a letter telling me they decreased my Ring from 5k to $500 lol. Reason is too many new accounts in last 6m (over12) I am strongly considering cancelling the card as I have several accts with 10+K CL. I really don't carry a balance and have no use for the card that I opened in Aug. Has anybody had success in reinstating the CL? PC? I may call and ask if it is possible without a HP.

Barclay to me and reading on this forum is not worth the headache IMO, so I will more than likely cancel.

Update: I went ahead and closed the acct. I find no use for a $500 CL or reinstating my CL. If i didn't have some big CL already or rebuilding my credit I would understand. But close to 760 credit scores across the board and an AAoA of 4+ years. I don't need their business.

Re: Barclaycard Lowered CL

Anonymous — Fri, 11 Dec 2015 15:15:25 GMT

Sorry to hear that. Barclay is definitely off my list of cards to get.

Re: Barclaycard Lowered CL

baller4life — Fri, 11 Dec 2015 15:20:36 GMT

Smh. Sorry OP. I'm so sick of them. Yes you could possibly plead your case to Portfolio Credit Dept and get it re-instated. They re-instated mine's before I kicked their butts to the curb. Number in Backdoor thread.

Re: Barclaycard Lowered CL

Anonymous — Fri, 11 Dec 2015 15:25:18 GMT

@baller4life wrote:
Smh. Sorry OP. I'm so sick of them. Yes you could possibly plead your case to Portfolio Credit Dept and get it re-instated. They re-instated mine's before I kicked their butts to the curb. Number in Backdoor thread.

See, my gut instinct is to tell them to shove it. It seems like too much to go through to keep them. I have plenty other great cc companies with great CL and incentives. I may be with you and tell them to cancel. Thanks!

Re: Barclaycard Lowered CL

Anonymous — Fri, 11 Dec 2015 15:29:49 GMT

I just closed my account too. I don't get the warm and fuzzies from this company. Plenty of other great cards out there!

Re: Barclaycard Lowered CL

Anonymous — Fri, 11 Dec 2015 15:38:03 GMT

Closed it!!

Re: Barclaycard Lowered CL Update: Closed Acct

redbeard — Fri, 11 Dec 2015 15:45:18 GMT

12 new accounts in 6 months is a definite red flag for Barclay's. Its also a red flag for your other accounts.

You can close Barclay's, but I would also suggest holding up on app'ing for a while. Let the accounts you have age a bit.

In this case, you opened the accounts, but keep in mind, this type of activity is what fraud departments look for. The average person (if there is such a thing) does not normally open 12 accounts in 6 months. That is what they are looking at.

Dan

Re: Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 15:56:56 GMT

@redbeard wrote:
12 new accounts in 6 months is a definite red flag for Barclay's. Its also a red flag for your other accounts.

You can close Barclay's, but I would also suggest holding up on app'ing for a while. Let the accounts you have age a bit.

In this case, you opened the accounts, but keep in mind, this type of activity is what fraud departments look for. The average person (if there is such a thing) does not normally open 12 accounts in 6 months. That is what they are looking at.

Dan

Thanks, I don't plan on apping for a few years. I have all the cards that I need.

Re: Barclaycard Lowered CL Update: Closed Acct

redpat — Fri, 11 Dec 2015 16:00:00 GMT

I could never figure out why everyone is so goo goo over Barclays, their card line-up isn't really as good compared to others.

Plus it looks like they have a itchy trigger finger.

Re: Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 16:05:36 GMT

I really don't understand why this is a negative for Barclay's. You opened 12 accounts in the last 6 months, if that's not asking for AA, I don't know what is. Then it's Barclay's fault that they covered themselves from some clearly abnormal behavior. Normal people, especially those with low credit risk, do not open 12 accounts in 2 years, let alone 6 months. SMH

Re: Barclaycard Lowered CL Update: Closed Acct

dragontears — Fri, 11 Dec 2015 16:13:51 GMT

@Anonymous wrote:
I really don't understand why this is a negative for Barclay's. You opened 12 accounts in the last 6 months, if that's not asking for AA, I don't know what is. Then it's Barclay's fault that they covered themselves from some clearly abnormal behavior. Normal people, especially those with low credit risk, do not open 12 accounts in 2 years, let alone 6 months. SMH

I don't really get it either but it is a very frequent thing on this board. Someone exhibits risky credit behavior then gets mad and blames the lender for taking AA.

but to each their own I guess.....

Re: Barclaycard Lowered CL Update: Closed Acct

redpat — Fri, 11 Dec 2015 16:19:21 GMT

@dragontears wrote:
@Anonymous wrote:
I really don't understand why this is a negative for Barclay's. You opened 12 accounts in the last 6 months, if that's not asking for AA, I don't know what is. Then it's Barclay's fault that they covered themselves from some clearly abnormal behavior. Normal people, especially those with low credit risk, do not open 12 accounts in 2 years, let alone 6 months. SMH
I don't really get it either but it is a very frequent thing on this board. Someone exhibits risky credit behavior then gets mad and blames the lender for taking AA.
but to each their own I guess.....

OP wasn't wasn't blaming the lender, they were only telling us why they received the AA.

That's how i read it.

Re: Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 16:19:33 GMT

@redpat wrote:
I could never figure out why everyone is so goo goo over Barclays, their card line-up isn't really as good compared to others.

Plus it looks like they have a itchy trigger finger.

I don't know that people are "goo goo over Barclays", my impression has been that they get much more negative stuff as in this thread. But from time to time they have had some really useful cards, such as Sallie Mae (no longer available), the old US Air cards and for some UPromise and Ring. They also have lots of co-branded stuff which can be useful for those in with those partners. Most issuers have a mix of good and not-so-great cards.

Re: Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 16:22:01 GMT

@Anonymous wrote:
I really don't understand why this is a negative for Barclay's. You opened 12 accounts in the last 6 months, if that's not asking for AA, I don't know what is. Then it's Barclay's fault that they covered themselves from some clearly abnormal behavior. Normal people, especially those with low credit risk, do not open 12 accounts in 2 years, let alone 6 months. SMH

I really never stated it was Baclay's negative. What I am saying is I don't need their business where I have established business with other credit companies. I get it's their money they are lending and they are protecting their behinds. I don't blam them. Your replay is a little irrelevant to my orignal question. Thanks for the credit consult though.

Re: Barclaycard Lowered CL Update: Closed Acct

Imperfectfuture — Fri, 11 Dec 2015 16:23:15 GMT

@Anonymous wrote:
I really don't understand why this is a negative for Barclay's. You opened 12 accounts in the last 6 months, if that's not asking for AA, I don't know what is. Then it's Barclay's fault that they covered themselves from some clearly abnormal behavior. Normal people, especially those with low credit risk, do not open 12 accounts in 2 years, let alone 6 months. SMH

Several cl's know better than to do that.

Re: Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 16:24:54 GMT

@redpat wrote:
@dragontears wrote:
@Anonymous wrote:
I really don't understand why this is a negative for Barclay's. You opened 12 accounts in the last 6 months, if that's not asking for AA, I don't know what is. Then it's Barclay's fault that they covered themselves from some clearly abnormal behavior. Normal people, especially those with low credit risk, do not open 12 accounts in 2 years, let alone 6 months. SMH
I don't really get it either but it is a very frequent thing on this board. Someone exhibits risky credit behavior then gets mad and blames the lender for taking AA.
but to each their own I guess.....
OP wasn't wasn't blaming the lender, they were only telling us why they received the AA.

That's how i read it.

Thank you. At least somebody understands

Re: Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 16:32:27 GMT

I think most creditors will get their hair raised by 12 accounts in 6 months. I don't think this is the end of your AA.

It comes down to how often your other creditors SP your reports to check on you.

Re: Barclaycard Lowered CL Update: Closed Acct

dragontears — Fri, 11 Dec 2015 16:30:18 GMT

@Anonymous wrote:
@redpat wrote:
@dragontears wrote:
@Anonymous wrote:
I really don't understand why this is a negative for Barclay's. You opened 12 accounts in the last 6 months, if that's not asking for AA, I don't know what is. Then it's Barclay's fault that they covered themselves from some clearly abnormal behavior. Normal people, especially those with low credit risk, do not open 12 accounts in 2 years, let alone 6 months. SMH
I don't really get it either but it is a very frequent thing on this board. Someone exhibits risky credit behavior then gets mad and blames the lender for taking AA.
but to each their own I guess.....
OP wasn't wasn't blaming the lender, they were only telling us why they received the AA.

That's how i read it.
Thank you. At least somebody understands

My appoligies OP, I was speaking generally not at you specifically.

The number of threads about AA where someone is claiming "they did nothing wrong" and are mad lender X took AA far out weigh the threads where someone shrugs off AA because they know they were behaving risky in a lender's eyes.

Re: Barclaycard Lowered CL Update: Closed Acct

amakol — Fri, 11 Dec 2015 16:31:34 GMT

Agreed. Happy you found a solution that worked for you, but don't understand the Barclays bashing. They're lending their money to you, they have every right to set the terms and determine their financial risk. Ultimately it's their money at stake.

Re: Barclaycard Lowered CL Update: Closed Acct

Anonymous — Fri, 11 Dec 2015 16:33:23 GMT

@Anonymous wrote:
I think most creditors will get their hair raised by 12 accounts in 6 months. I don't think this is the end of your AA.

While it is certainly (well) above average for the general population, it may not be enough to spook other lenders. It can depend on exposure, how profitable the user is/appears to be, and maybe individual features of the card involved.