topic Re: Barclay :( in Credit Cards

Barclay :(

ginger1477 — Sun, 08 Oct 2017 22:54:17 GMT

Got an alert today the one of my accounts reported a credit limit decrease. Thanks to reading these boards I knew who from right away. Barclay cut me down from 5000 to 850. I'd been using it last month, so it has 650ish on it. I've never carried a balance on this card, or any balance that wasn't interest free on any card. I'm going to pay them off tomorrow. Just wondering if it is a good idea to ask for the limit to reinstated before I make them report a zero balance and cancel? I know for sure I don't want the card anymore.

I've opened a few new cards, and my capital one reported a 3000 balance out of the 14000 limit. Thinking that may have scared them. Oh well.

Re: Barclay :(

Legal_Girl — Sun, 08 Oct 2017 23:08:04 GMT

Sorry this happened, but Barclay is famous for decreasing credit limits, especially if you have opened new credit cards. That seems to be one of the biggest complaint about Barclay. If you haven't opened any new accounts in the last couple of months there is no telling why they decreased. I personally don't use either of my 2 Barclay cards anymore because they decreased me when one of my cards was still Sallie Mae after I opened 2 new accounts in 4 months. They start 'balance chasing' card holders when that happens. If you like the card, give them a call and see what's up. I need to take the time and close mine. Good luck.

Re: Barclay :(

AverageJoesCredit — Sun, 08 Oct 2017 23:08:30 GMT

Ill have a cup of joe and say good riddance to Sir Barclays for ya. NOT COOL

Re: Barclay :(

Anonymous — Sun, 08 Oct 2017 23:16:17 GMT

I really dislike Barclays. I never did business with them (athough was close to), and your post just comes to confirm that I never should.

To cancel or not depends on your AAoA with and without that CC, and your average CL thorughout your CCs. If it affects AAoA you'll see some score drop. If it affects avg CL, you may or may not see some effect in the form of a lower SL when applying for more CCs.

Assuming you can cancel right now, I would always call before cancelling, to give them an opportunity. I'd ask what happened, and then explain the problem for me with the new situation, and that I'll have no choice but to cancel it if there's no way we can revert that CLD. If they say no I cancel immediately

Re: Barclay :(

Anonymous — Sun, 08 Oct 2017 23:28:30 GMT

@Anonymous wrote:
I really dislike Barclays. I never did business with them (athough was close to), and your post just comes to confirm that I never should.

To cancel or not depends on your AAoA with and without that CC, and your average CL thorughout your CCs. If it affects AAoA you'll see some score drop. If it affects avg CL, you may or may not see some effect in the form of a lower SL when applying for more CCs.

Assuming you can cancel right now, I would always call before cancelling, to give them an opportunity. I'd ask what happened, and then explain the problem for me with the new situation, and that I'll have no choice but to cancel it if there's no way we can revert that CLD. If they say no I cancel immediately

Closing the CC will have absolutely no affect on your AAOA. The account will remain on your credit reports for 10 years once they are closed and will still factor in your AAOA's.

Re: Barclay :(

fltireguy — Sun, 08 Oct 2017 23:39:18 GMT

You can ask to have the limit reinstated, but I doubt they will
They suck, they CLD'd me for no real reason at all a year ago. I closed my card... I don't need them at all!

Re: Barclay :(

Anonymous — Mon, 09 Oct 2017 00:00:55 GMT

fltireguy --I just saw your signature and totally agree, barclays and citi suck, so far the only 2 financial entities I dislike. Although citi has the sears card...
And true, Synchrony sucks even worse but they're all over the place so I have to deal with them.
Chase I like its banking style for CCs, and CUs, Cap1, and maybe Amex too. Not really sure about the last one

Re: Barclay :(

LadyJEsq — Mon, 09 Oct 2017 02:11:09 GMT

I have yet to have an issue with Barclay (knock on wood). I'm currently carrying a significant amount of debt and have yet to be CLD. I also opened several new accounts, including the Ring, in the past 3mths. If I make it without getting CLD, I wonder if it's because my CRs show that I carry balances all the time. I've never done AZEO, so maybe it's not so startling that I'm carrying such a large balance now.

Re: Barclay :(

CreditMagic7 — Mon, 09 Oct 2017 03:23:18 GMT

That's Barclays axe chopping routine. We read about it so very often in here that it's not funny and still others sing high praises over them.

The one last thing you can try is to call them during business hours and request reinstatement of the before limit.

Some have had luck getting it back and others not.

Sorry they targeted you. It is a very well known tactic of Barclays especially.

Re: Barclay :(

NRB525 — Mon, 09 Oct 2017 04:12:21 GMT

@LadyJEsq wrote:
I have yet to have an issue with Barclay (knock on wood). I'm currently carrying a significant amount of debt and have yet to be CLD. I also opened several new accounts, including the Ring, in the past 3mths. If I make it without getting CLD, I wonder if it's because my CRs show that I carry balances all the time. I've never done AZEO, so maybe it's not so startling that I'm carrying such a large balance now.

Yes, I have to agree your credit profile with actual balances over a long period of time, with no issues, likely has something to do with how Barclays looks at your accounts.

OP seems to have a shorter credit history, the $3k on CapOne is probably relatively new, and so the Barclays computers do what they have been programmed to do, to reduce percieved risk.

To the OP, if it were me, I would not close the account, I would not even jump too fast to pay down the card. You borrowed the money, you will pay it back according to terms. If you really don't want the card, then closing is your choice to make. As others have said it really won't affect your AAoA.

Re: Barclay :(

Cmikul — Mon, 09 Oct 2017 17:20:20 GMT

Funny you posted this as I'm having a very unsettling experience with Barclay at the moment.

7 false transactions were reported over 3 weeks ago.

Today I get 4 phone calls asking me about the (2) transactions being disputed.

They asked ME to call the vendor to get confirmation and details on the purchases.

Then a secondary CSR asked me why I would call the vendor....well because you told me to....then they were bewildered.

so another CSR calls me and wants to reconfirm the (2) transactions....so I had to repeat that it's 7.....

I have very low confidence in them at this point.

Re: Barclay :(

marty56 — Mon, 09 Oct 2017 17:38:24 GMT

You should never close a CC unless they are charging a monthly or yearly fee that you don't want to pay.

If you want you can just stop using the card, or use it and PIF each month.

Re: Barclay :(

Anonymous — Mon, 09 Oct 2017 18:14:57 GMT

@marty56 wrote:
You should never close a CC unless they are charging a monthly or yearly fee that you don't want to pay.

If you want you can just stop using the card, or use it and PIF each month.

That is rather too broad a statement. There are others reasons to close a no-AF card.

Re: Barclay :(

Anonymous — Mon, 09 Oct 2017 18:59:07 GMT

@marty56 wrote:
You should never close a CC unless they are charging a monthly or yearly fee that you don't want to pay.

If you want you can just stop using the card, or use it and PIF each month.

+1, unless it's Barclay.

Re: Barclay :(

CreditMagic7 — Mon, 09 Oct 2017 19:31:12 GMT

Barclays is an odd bird.

Some cardholders seem to chug along just fine with them and almost as many seem to run into these chopping block routines.

Re: Barclay :(

AverageJoesCredit — Mon, 09 Oct 2017 20:53:17 GMT

Barclays can be like London bridge, historic and breathtaking......until it is falling down, falling down, my fair lady

Re: Barclay :(

ginger1477 — Mon, 09 Oct 2017 21:06:21 GMT

You guys made me feel better about this.
I mean I hate that happened to myself or anyone else, but I guess it's true that misery loves company.
I did call to try to reinstate and we told no. Two new cards is the reason I was told. She didn't even mention the higher than usual balance on the capital one card.
For those of you who don't have issues with them, good luck for the future. The only thing about not closing the card on my own is I'd worry if next month they will close it for me. Paid it off today.

Re: Barclay :(

CreditMagic7 — Mon, 09 Oct 2017 23:29:46 GMT

@ginger1477 wrote:
You guys made me feel better about this.
I mean I hate that happened to myself or anyone else, but I guess it's true that misery loves company.
I did call to try to reinstate and we told no. Two new cards is the reason I was told. She didn't even mention the higher than usual balance on the capital one card.
For those of you who don't have issues with them, good luck for the future. The only thing about not closing the card on my own is I'd worry if next month they will close it for me. Paid it off today.

At least that part is out of your hair. They are paid in full PERIOD.

Something like this leaves a bitter taste for many who been down the same road with them.

They are super duper jealous especially when you don't have a heap collection of lenders as some do and the mere adding of a new account here or there unsettles them.

And probably to their own undoing as in losing customers + profitability from the same.

It's obvious by now their card turnover is very high. And they will continue to operate the same way with others no matter what.

This is far from being the last of these type of posts concerning Barclays.

I'm just relieved i cut them loose when i did and never looked back. In fact my limits and lender approvals got better without them on my open reports.

Barclays The Butcher is where they belong in the closed column. It's the safest place for them IMHO.

Re: Barclay :(

Anonymous — Mon, 09 Oct 2017 23:43:53 GMT

@CreditMagic7 wrote:
@ginger1477 wrote:
You guys made me feel better about this.
I mean I hate that happened to myself or anyone else, but I guess it's true that misery loves company.
I did call to try to reinstate and we told no. Two new cards is the reason I was told. She didn't even mention the higher than usual balance on the capital one card.
For those of you who don't have issues with them, good luck for the future. The only thing about not closing the card on my own is I'd worry if next month they will close it for me. Paid it off today.
At least that part is out of your hair. They are paid in full PERIOD.

Something like this leaves a bitter taste for many who been down the same road with them.

They are super duper jealous especially when you don't have a heap collection of lenders as some do and the mere adding of a new account here or there unsettles them.

And probably to their own undoing as in losing customers + profitability from the same.

It's obvious by now their card turnover is very high. And they will continue to operate the same way with others no matter what.

This is far from being the last of these type of posts concerning Barclays.

I'm just relieved i cut them loose when i did and never looked back. In fact my limits and lender approvals got better without them on my open reports.

Barclays The Butcher is where they belong in the closed column. It's the safest place for them IMHO.

You and I both. Closed my Ring & Cashforward before they closed me!

Re: Barclay :(

Anonymous — Tue, 10 Oct 2017 03:57:15 GMT

JD Power satisfaction survey ranks Barclay fairly high in customer satisfaction. Reading this post has me wondering if the same thing may be around the corner for my card. Barclay was my first approval after starting my credit repair journey. I have had 20-60% utilization with a 2.5k limit but PIF every month, I was using this for my travel card for work.

Since getting approved through Barclay I have added 4 additional credit card accounts over the course of 4 months, 2 of which have much higher limits and better APR. I think I am going to put Barclay in the sock drawer for a while and just hope I dont get hit with a decrease.