topic Re: Barclays doesn't make any sense....to me anyway. in Credit Cards

Barclays doesn't make any sense....to me anyway.

Anonymous — Tue, 26 Jan 2016 14:50:58 GMT

Just wanted to post a couple of data points for anyone interested.

I have a friend who filed Ch 7 back in November 2014. Since then she has built some new credit lines, Walmart, Kay, 2 Cap ones, Merrick and Barclay.

She has also added 2 new collections to her file, and she keeps all her cards near maxed out about all the time. She does make large payments on them each month usually but then maxes them back out. Almost always carrying a balance near the limit. So her scores stay around the 620-630 range.

Okay, so now the part where Barclay doesn't make any sense. She initially opened her Barclay cash rewards card in june of 2015 with a limit of 1900 to start with, which is pretty high considering her profile. And since most of the stories on here are about cld with Barclay when high utilization is carried over and over, It about blew me away when I found out they just auto cli her to 4700.

Just can't figure out these companies and how they determine who and how much cli to give people. Don't get me wrong, I'm happy for her, she does pay her bills ( the ch 7 was the result of a dwindling business and divorce), and definately uses her cards often, so maybe that's why barclays likes her so much.

Just wanted to share because this is a little abnormal from most of the stories that we see about barclay.

Re: Barclays doesn't make any sense....to me anyway.

Anonymous — Tue, 26 Jan 2016 15:08:40 GMT

In the grand scheme of things, $4700 really isn't much of a credit line. Maybe they're hoping that she'll transfer some balances. They are pretty much guaranteeing usage of their card if her other cards are maxed out. Whether they take her to collections for $1900 or $4700, it really doesn't matter to them. What does matter is additional usage and additional debt (both things that make money).

And the Barclay AA stories are mostly from people that had credit lines that they shouldn't have had, and when they went to use them the additional scrutiney from Barclays triggered the AA.

Re: Barclays doesn't make any sense....to me anyway.

msbia — Tue, 26 Jan 2016 15:12:18 GMT

@Anonymous wrote:
Just wanted to post a couple of data points for anyone interested.

I have a friend who filed Ch 7 back in November 2014. Since then she has built some new credit lines, Walmart, Kay, 2 Cap ones, Merrick and Barclay.

She has also added 2 new collections to her file, and she keeps all her cards near maxed out about all the time. She does make large payments on them each month usually but then maxes them back out. Almost always carrying a balance near the limit. So her scores stay around the 620-630 range.

Okay, so now the part where Barclay doesn't make any sense. She initially opened her Barclay cash rewards card in june of 2015 with a limit of 1900 to start with, which is pretty high considering her profile. And since most of the stories on here are about cld with Barclay when high utilization is carried over and over, It about blew me away when I found out they just auto cli her to 4700.

Just can't figure out these companies and how they determine who and how much cli to give people. Don't get me wrong, I'm happy for her, she does pay her bills ( the ch 7 was the result of a dwindling business and divorce), and definately uses her cards often, so maybe that's why barclays likes her so much.

Just wanted to share because this is a little abnormal from most of the stories that we see about barclay.

Seems like she hasn't learned much since filing for her BK. I agree with you about Barclay's but she needs to tread carefully with them because as generous as they can be, they are also reknowned for snatching back. Advise your friend to visit the Rebuilding forum if you can.

Re: Barclays doesn't make any sense....to me anyway.

Dalmus — Tue, 26 Jan 2016 17:03:38 GMT

The fact that she makes large payments each month probably helps her with Barclay's.

Re: Barclays doesn't make any sense....to me anyway.

Anonymous — Tue, 26 Jan 2016 17:35:01 GMT

You're right in a sense. When I was approved for my rewards card it was 1 year post BK, 620 credit score, high utilization. I see a lot of other people getting $800-$1300 SL and I got $2000. They just upped me yesterday to $5000. My first CLI almost 6 months since opening. My TU score is now 734. But 6 months ago $2000 was a good SL. Surprised me.

Re: Barclays doesn't make any sense....to me anyway.

yfan — Tue, 26 Jan 2016 18:11:19 GMT

@Anonymous wrote:

Okay, so now the part where Barclay doesn't make any sense. She initially opened her Barclay cash rewards card in june of 2015 with a limit of 1900 to start with, which is pretty high considering her profile. And since most of the stories on here are about cld with Barclay when high utilization is carried over and over, It about blew me away when I found out they just auto cli her to 4700.

What's confusing about it? Banks like customers who pay them loads of interest and yet don't skip payments.

Re: Barclays doesn't make any sense....to me anyway.

JSS3 — Tue, 26 Jan 2016 18:25:28 GMT

What are "large payments"? How much?

Re: Barclays doesn't make any sense....to me anyway.

Anonymous — Wed, 27 Jan 2016 01:43:01 GMT

great points everyone

@JSS3 wrote:
What are "large payments"? How much?

Anywhere from 200 to 500 couple times a month

Re: Barclays doesn't make any sense....to me anyway.

takeshi74 — Wed, 27 Jan 2016 04:02:20 GMT

@Anonymous wrote:
Just wanted to share because this is a little abnormal from most of the stories that we see about barclay.

It may seem abnormal in the short run but it won't be abnormal in the long run. Her habits are not sustainable. Hopefully she'll correct things before learning the hard way yet again.

Re: Barclays doesn't make any sense....to me anyway.

JSS3 — Wed, 27 Jan 2016 16:35:29 GMT

Although it's "sensitive" "jealous" Barclays, they tolerate her because she does spend a lot with them(interest) and makes the large payments. I also think they aren't as trigger happy with her because she's not opening lots of new cards.