Barclays mini-rant

[NYC_Fella]

So I applied for a CLI from $7.5 to $10K on my Red Aviator card and got an instant approval to $8.5K. Hardly worth the HP, but whatever. Then I got a letter explaining that they couldn't approve me for the full amount that I asked for because of public record (5+ years old), delinquencies (6+ years old), and most incredibly, "high revolving balances". On the report that they pulled, my total revolving balance (on a single card) was $346 which was less than 1% overall utilization.

I think many issuers have people working full-time just to create made-up reasons that don't reflect reality. Discover is another one.

[Remedios]

Is public record BK? 

Type of derogs from 6 years ago? 

[kr43002]

---

@NYC_Fella wrote:

So I applied for a CLI from $7.5 to $10K on my Red Aviator card and got an instant approval to $8.5K. Hardly worth the HP, but whatever. Then I got a letter explaining that they couldn't approve me for the full amount that I asked for because of public record (5+ years old), delinquencies (6+ years old), and most incredibly, "high revolving balances". On the report that they pulled, my total revolving balance (on a single card) was $346 which was less than 1% overall utilization.

I think many issuers have people working full-time just to create made-up reasons that don't reflect reality. Discover is another one.

---

So the trouble codes stated means Your public record (I'm assuming bk) is why they aren't extending further credit. The third one is basically telling you that is the only reason why.

[Brian_Earl_Spilner]

Lenders have to give you a reason. Doesn't have to be a good or accurate one. If anything, it was because of your recent credit seeking as they are extremely sensitive to that. They've been known to shut down accounts because they found credit seeking, increased utilization, or pyramiding debt during an SP AR. 

[NYC_Fella]

---

@Remedios wrote:

Is public record BK? 

Type of derogs from 6 years ago? 

---

Yep, and the derogs are pre-BK IIBs. But interestingly, they had no issue with giving me a $7.5K SL a few months ago! And the card has had a lot of usage with everything PIF every month.

[Remedios]

---

@NYC_Fella wrote:

---

@Remedios wrote:

Is public record BK? 

Type of derogs from 6 years ago? 

---

Yep, and the derogs are pre-BK IIBs. But interestingly, they had no issue with giving me a $7.5K SL a few months ago! And the card has had a lot of usage with everything PIF every month.

---

I understand, but are those derogs charge offs, paid charge offs, or lates? 

Often lenders will approve the amount they feel comfortable extending based on the profile, and with this being Barclay, I think they did right by you. 

Another thing, any HP CLI (just like any application) is always Schrodinger's cat, you never know if anything good is going to come out of boxes we fill. 

I've had some great ones, and I've had some that definitely went something like "I shouldn't have shaved for this" 

Just keep in mind it's us who request them because we thought it was a good idea, doesn't mean lender wants to play. 

[FinStar]

---

@NYC_Fella wrote:

---

@Remedios wrote:

Is public record BK? 

Type of derogs from 6 years ago? 

---

Yep, and the derogs are pre-BK IIBs. But interestingly, they had no issue with giving me a $7.5K SL a few months ago! And the card has had a lot of usage with everything PIF every month.

---

Any lender can still acquire new customers even with not-so-perfect or blemished credit profiles without the need to grow those products.  You also have to take into consideration that each financial institution has different lending policies. They could've easily denied the CLI as well, but instead approved a partial increase.  From their perspective, given your overall profile, there's still an inherent risk. And, while it's commendable that you've improved things since your BK was discharged, you also have to temper expectations.

[NYC_Fella]

Thanks all, some excellent guidance here. 

@Remedios They are presented in the reports as late payments, but were charged off in BK. 

[FinStar]

---

@Remedios wrote:

---

@NYC_Fella wrote:

---

@Remedios wrote:

Is public record BK? 

Type of derogs from 6 years ago? 

---

Yep, and the derogs are pre-BK IIBs. But interestingly, they had no issue with giving me a $7.5K SL a few months ago! And the card has had a lot of usage with everything PIF every month.

---

I understand, but are those derogs charge offs, paid charge offs, or lates? 

Often lenders will approve the amount they feel comfortable extending based on the profile, and with this being Barclay, I think they did right by you. 

Another thing, any HP CLI (just like any application) is always Schrodinger's cat, you never know if anything good is going to come out of boxes we fill. 

I've had some great ones, and I've had some that definitely went something like "I shouldn't have shaved for this" 

Just keep in mind it's us who request them because we thought it was a good idea, doesn't mean lender wants to play. 

---

[Anonymous]

---

@NYC_Fella wrote:

So I applied for a CLI from $7.5 to $10K on my Red Aviator card and got an instant approval to $8.5K. Hardly worth the HP, but whatever. Then I got a letter explaining that they couldn't approve me for the full amount that I asked for because of public record (5+ years old), delinquencies (6+ years old), and most incredibly, "high revolving balances". On the report that they pulled, my total revolving balance (on a single card) was $346 which was less than 1% overall utilization.

I think many issuers have people working full-time just to create made-up reasons that don't reflect reality. Discover is another one.

---

You are doing a great job 

keep up the good work 

Barclays is one of my favorites 

I am sure they will be one of your favorites too in time 

Thanks

Mark