topic Re: Help with a denial of CLI from Barclay in Credit Cards

Help with a denial of CLI from Barclay

svtthis — Tue, 02 Apr 2013 11:46:52 GMT

Recently barclay had sent me numberous pre selected offers before I took the plunge and applied for a the card. I was approved for a 1500 cli which at the time was more than double my highest cli. I called the back door number to see if they would reconsider the amount and increase it. The man I spoke to asked for my income and went over my CC's but after a short 5 min call was unable to increase the CL. After a few days I recieved a letter in the mail with the denial reason which I have never seen before.

The reason states: "High Amount of Credit Available From Other Accounts"

Snapshot of my credit profile

Cap1 secured 451 CL

Credit One 400 CL

Merrick Bank 700 CL just doubled to 1400 but hasn't cut a statement since the new increase. Still showed 700 when they reviewed my report.

BK7 discharged 1/12

Transunion score of a 647 Lender pulled which I started with a 547. 100 point increase from January of 2012

Any Ideas on what the denial reason means?

Re: Help with a denial of CLI from Barclay

b_seeker — Tue, 02 Apr 2013 12:19:26 GMT

They just simply don't like extending too much credit to people.

If you don't mind, what did you list as your income? I had a similar experience where they told me that they extended enough credit to me on my current accounts. Given that it is double your reporting limits currently, I suspect they didn't want to expose themselves any more to you right now, especially with that BK7. The fact that you just opened the card along with your lower score are flags for them as well, even if your income is high. Barclays in my experience is really good with auto CLIs between the 4th and 6th statements, provide you treat the card well.

So basically, its them limiting exposure until they see how you proceed with their card is my guess.

I do want to say well done on your credit rebuilding so far.

Re: Help with a denial of CLI from Barclay

Tazman81 — Tue, 02 Apr 2013 12:44:42 GMT

I agree with b_seeker.

Typically what happens is your initial limit is based on the limit that you have on your other cards. Usually a bank that you are first establishing a relationship with does not want to be the one to take the plunge and offer you a large limit. So, normally for those that have low limit credit cards, they will continue to see low limit cards on new accounts. For those that already have high limit credit cards will receive higher limit credit cards on new accounts.

The best thing to do would be to continue building your relationship with Barclays. The likely hood of some of your subprime cards to increase in limits is low, although YMMV as some have had success.

Continue doing what you are doing, keep your utilization low, and make all of your payments on time. The bankruptcy discharge is still very fresh so time will allow your card limits to increase.

Re: Help with a denial of CLI from Barclay

sosabe77 — Tue, 02 Apr 2013 12:49:00 GMT

They are pretty stingy with the CLIs at first. A rep told me they like to see how you utilize your account for around 6 months. They increased mine after about 6 months of good usage with their card though.

Re: Help with a denial of CLI from Barclay

navigatethis12 — Tue, 02 Apr 2013 13:24:57 GMT

You just came out of bankruptcy last year, get approved for their card at 1500 and seriously think you should ask for more? You've already said that it's double what you already have so you should be happy about that. You now have four credit cards right after a bankruptcy, which to them must be a lot.

Re: Help with a denial of CLI from Barclay

youngandcreditwrthy — Tue, 02 Apr 2013 13:29:49 GMT

Congrats on the approval, esp from Barclay's...
Agree with navigatethis....
Give it 6-7 months and they'll auto cli you!
Good luck!

Re: Help with a denial of CLI from Barclay

svtthis — Tue, 02 Apr 2013 13:58:21 GMT

@b-seeker I make around 35k a year and thanks for the compliment! I have read these forums a lot!

On the pre selected offer Barclay's said the would review after the 5th statement.

@navigatethis12
From what I read on myfico is that people always recommended calling to see if issuers will increase the initial cl. Oh and trust me I am but if I could have squeezed some more out I was definitely going to try Lol

@youandcreditwrthy

Thanks!