topic Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :( in Credit Cards

Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 00:33:22 GMT

Hi....

I just logged on to my Barclaycard Apple account online and noticed that my limit was brought down 10% from $3500 to $3150.

I have been paying about 110 above my minium payment every month. (my minimum is usuallly 30 bucks).

Is there anyway I could get my limit back up to $3500? Thank you.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

pizza1 — Mon, 26 Feb 2018 01:12:48 GMT

What is your current balance on the card?

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

JaseT — Mon, 26 Feb 2018 01:17:50 GMT

Sorry to hear that! It always makes me nervous when I see posts about CLD from Barclay!

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

AverageJoesCredit — Mon, 26 Feb 2018 01:46:49 GMT

Yeah Barclays .....not....sorry that was my average sarcasm for Sir Barclays. As far as clds go, thats not the worse weve seen but it begs the question if they are going to start balance chasing you. Definetely fill us in on how much you owe and for how long.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 01:54:56 GMT

I bought a macbook for like 3300 and ive been paying $142 a month to avoid interest at the end of 24th months (I divided the total amount by 24).

Should I just pay the minimum and keep the rest in my savings and pay it all on the 24th month? I dont want them to chase the credit limit down.

this happened on my 4th statement. I did get a lot of new accounts but I am not running up debt just trying to build a good base of credit cards so when I am looking for a house, i wont have any recent new accounts.

thanks for ur info!

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 01:55:52 GMT

currently the balance is like 2974 or 2947 something like that

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

trusty — Mon, 26 Feb 2018 02:31:49 GMT

Some banks are risk averse.

Look at it from their prospective: Would you loan someone another $500 - that already owes you $3000, and hasn't yet paid it back?

Continuing to carry a sizeable balance... indicated that you were a much higher risk of default.

You've just got to hunker down, and find someone else to transfer that balance to... if, of course, you cannot pay it off, straightaway.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

HeavenOhio — Mon, 26 Feb 2018 02:09:47 GMT

I believe that this is a 0% deferred interest promo. If that's the case, dividing the cost of the MacBook by 24 makes total sense.

OP, how many new cards have you opened since you opened the Barclays account? That may be the reasoning behind the CLD.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

trusty — Mon, 26 Feb 2018 02:30:50 GMT

If they CLD during a zero percent promo... that is totally uncalled for!

There would have to be a lot else going on for that to make sense. - Like, carrying balances on multiple cards, simultaneously.

If that's not happening, this seems absurd and abusive, to be sure.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

AverageJoesCredit — Mon, 26 Feb 2018 02:31:17 GMT

Yup Trusty, the Op seems to be doing right on a 0% apr promo period. Being Barclays, i believe its the recent additions to Op's credit card lineup that caused this. Op, how many cards have you apped for and received since you got the Apple card?.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 04:32:39 GMT

Hi all.... since I recieved the barclaycard apple rewards I have done the following

Applied for & Denied

Citi Costco

Uber Barclaycard

Applied for & Approved

Amex PRG

Delta Skymiles Gold

Saks Fifth Avenue

Neiman Marcus

Nordstrom

Amazon

Paypayl Credit

Blue Nile

Citi Secured (trying to get in with citi figured this may be a step)

Used SCT

West Elm

Pottery Barn

Current Fico Scores vary but all three are anywhere form 681 to 705

all scores where around 700 when I was approved for the barclaycard apple rewards

This was all done nov/dec of last year and im currently in the garden

Thank you all for your insight

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

MrDisco99 — Mon, 26 Feb 2018 05:01:35 GMT

Yeah that's a pretty wild app spree. Barclay are known to react to things like that.

I'd say keep gardening and keep paying it down at your pace and hope they won't balance chase you.

I'm doing the same thing you are, paying down a large balance on an Apple purchase. I just moved credit from my other Barclay cards to the Apple card to pad the limit and get the util way down. That helped my score considerably and so far (knock on wood) they haven't tried to pull anything like that. I've only gotten two new cards since that one, so I haven't given them too much reason to be nervous. Thankfully I think my app spree days are behind me.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 05:33:31 GMT

Lol.... i figured it that may have been why.... my utilization hovers around 22% hopefully will pay it down to about 15 or 10% in the next couple of months.

Lesson learned.... but just wondering has anyone has any lucky getting their original limit reinstated? I just dont want to see it go down more. I think im going to just pay the minimum from now on and put the difference of what I normally pay in my short term savings account & will pay a lump sum on the 23 month. Any thoughts on this also? Thank you for your advice

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 10:48:36 GMT

Might as well just have one huge thread talking about everyone's CLD's.

I don't think anyone would miss Barclays if they went out of business.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

HeavenOhio — Mon, 26 Feb 2018 11:36:19 GMT

Eleven new cards in four months is a ton, and Barclays isn't the only lender that'll be spooked by a number like that. The downside to paying only the minimum is that your card will remain nearly maxed over the next 20 months. Even if your overall utilization is low, the individual card utilization portion of your score will still be hit because of 80-something percent utilization.

Do you happen to know what your scores were before the spree and what they are currently? What other cards do you have?

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

AverageJoesCredit — Mon, 26 Feb 2018 12:07:03 GMT

Yeah, the spree did the trick. I look at it just keep paying your apple card like you planned. If they bc you then you know where you stand but like mentioned earlier keep knocking down the uti on the card. Sprees happen but best thing to do is learn ftom them and prepare better for the next one. Getting approved can sometimes have a dominoe effect we just want to see how far we can go.

As for yoyr limit you may be able to recon with them but who knows how'll they will react. If you do just be honest and say you were looking to strenghthen your overall profile. Best of luck and thanks for sharing with us. l

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 12:17:33 GMT

Thank you for that info. I do have a question. @heavenohio What is the individual card utilization? Vs the overall? I thought it was all lumped together and divided up and that was the number that makes up ur 35% or 30% for your credit score.

My scores were around 705 all across the board before the spree so they are almost back to normal for me.

Hopefully no one else has any AA for me.

The cards I had before were :
Chase Freedom
Chase Saphhire Preferred
Discover It
2nd Discover It (AU)
Capital One Spark
Capital One QS1
2nd Capital One QS1
Capital One BPC (hate this card)
Restoration Hardware
Care Credit
Banana Republic
J Crew
Williams Sonoma

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

HeavenOhio — Mon, 26 Feb 2018 12:39:57 GMT

Three things factor into the revolving credit portion of your score.

Overall utilization is the most important important factor. You're already keeping that in mind.

Individual card utilization is a lesser factor. This is determined by the card that has the highest utilization.

Number/percentage of cards reporting non-zero balances is the third factor. It's best to keep the percentage of your cards with positive balances under half. Some say under a third is better. When it's time to apply for a mortgage, have a positive balance report on only one card with the rest reporting zero. You may or may not gain over having a couple more cards with balances, but it's best to be safe.

For overall and individual utilization, keep FICO thresholds in mind. Known thresholds occur at 8.9%, 28.9%, 48.9%, 68.9%, and 88.9% (maxed). The effect of crossing a threshold varies from profile to profile. Crossing 8.9% and 88.9% are almost certain to affect everyone. You're also likely to be affected by crossing some of the thresholds in between, but it's tough to determine which ones.

Generally speaking, the revolving portion of one's score is optimized when overall utilization is at 8.9% or below and no card is above 28.9%. However, some people report being dinged with percentages below those numbers. When it becomes time to apply for important credit, report a very small balance on one card (at least $5, though), with the rest reporting zero.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 18:44:05 GMT

@HeavenOhiowrote:
Eleven new cards in four months is a ton, and Barclays isn't the only lender that'll be spooked by a number like that. The downside to paying only the minimum is that your card will remain nearly maxed over the next 20 months. Even if your overall utilization is low, the individual card utilization portion of your score will still be hit because of 80-something percent utilization.

Do you happen to know what your scores were before the spree and what they are currently? What other cards do you have?

I agree. For all the Barclays hate here, many other issuers would certainly have at least taken a closer look (or at least should do). This looks like aggressive credit seeking, and the algorithms don't code for "member of MyFico"! Instead, looks like a common credit risk.

Re: Barclaycard Visa w/ Apple Rewards - Credit limit DECREASE! :(

Anonymous — Mon, 26 Feb 2018 18:46:46 GMT

@Anonymouswrote:
Might as well just have one huge thread talking about everyone's CLD's.

I don't think anyone would miss Barclays if they went out of business.

Those with the Barclays Uber card would.

Oh, plus everyone as it would be a huge hit for the global economy! (in the top 20 biggest banks in the world)