What is everyone's experience with Barclays? I got their white card back in 2013 when i purchased a macbook air. They instantly approved me then, for $6700 SL. I've had the card since then and have not receieved a single CLI since i've had it.
To give Barclays credit, i never asked for a CLI and until recently my scores had been in the low 600s for about a year or more. I focused on raising my scores over the last 6 months and i'm currently at TU750, EQ760, EX775 and about 16% utilization. I also recently was approved for a Chase Sapphire Preferred card which i haven't received yet, and which is not showing on my credit report yet(which will lower my utilization to about 6%).
My question is this. I asked for a CLI from Barclays a few days ago to increase the limit to just over $11k. I have no plans for any large purchses, i just wanted my available credit to be higher. My goal was to make sure no matter what i spend, my utilization stays below 9%. I plan to use the CSP as my daily.
Barclays denied me the CLI, and were a little rude on the phone when i called to follow up. Simply said i'll get a letter in the mail, and then basically pushed me off the phone. Any ideas on why i wasn't approved? Is Barclays just hard to work with? I know i'll get their letter in the mail shortly, i just was looking for everyone's opinions.
I have only 1 inquiry for the CSP, no new accounts. I do use the Barclays card frequently. I have always used it while on vacation, at bars etc, and i have some reoccuring payments tied to it. However, that will all change as i'll be using the CSP as my main card once it arrives.
I've also never had a late payment with the card, or any of my CC's.
The only reason i can think of, is that i had a high utilization balance on it a few months ago and i payed it off over about 4 months. Work had been slow unfortunately but i promised the GF a vacation earlier this year. So, i put the vacation on the card and paid it off over that time, instead of spending my savings.
I will let everyone know what the letter says.
There have been numerous times i've been close to the CL. However, i've paid it off in full at the end of the month or, depending on circumstances, over a period of about 3-4 months.
But i've definitely used the card to its max plenty of times before.
Its quite possible with the recent trend of lenders reducing high credit limits for non use, Sir Barclays might just not want to extend more if it wont be used . Just a humble opinion but hope your letter clears it up for you
I wasn't aware lenders were doing this. Let's hope my limits stay untouched, as I was caught in that trend back in 08-09.
I'm definitely curious what the letter says, and will post my findings.