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Barclay small CLI with imperfect credit

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Barclay small CLI with imperfect credit

Summary:  Had $500 Barclay card for 8 statements, rejected online, called, approved for $500 increase. 

 

Background: I am still re-building.  Started with credit scores around 560 two years ago.  With work, brought them up to mid fico of 630 by Sept 2016 and bought a house.  Opened 2 credit cards (Barclay and Cap1) right after the house closed thinking it would be a good time to take the hard inquiry hit and get new accounts.

 

Current Credit Usage: Both cards have been stuck at $500 credit limit since opened in Sept 2016.  I keep Cap1 at about 1% usage.  I use my Barclaycard daily for reward points, but pay in full every month.  I also have an old secured American Express card for $250 that no longer use, got to start my rebuilding.  No other credit cards.  8 month old mortgage account (always current) and a 2 year auto account (always current).   Still have about 2-3 collections showing, 2+ years old.  2 charge offs, 7-8 years old.  1 paid judgement, 2 years old.  No current baddies but quite a few imperfections if you go back a few years.

 

Requesting the Increase: After receiving my 8th statement last week from Barclay, I requested a CLI online.  Rejected.  Reasons: too many new accounts and too high of a balance. 

 

Recon: I called the backdoor number (found on these forums) and explained my balance is high because it isn’t enough credit for my income and I PIF every month. She did say she would need to do another hard pull which I ok’d.  She asked me a few questions (income, a few negatives on my credit from years ago) and approved me another $500 increase.  Took 2 minutes.  Overall I've been very impressed with Barclay. 

 

Credit Score: I don’t pay for credit monitoring anymore through my fico, but my “fake” credit score according to Barclay’s free credit monitoring service was 640.

 

Not much of an increase, and a hard pull, but I was happy because Barclay was willing to double my limit and risk being my highest limit card. She did ask how much of an increase I wanted and I said $500.  I probably could have asked for more.  I want to make sure I can continue to PIF every month though.  I’ve gotten much better with bills, but I don’t want to flood myself with credit and end up back in debt again. I just don’t think I’m the kind of person that can handle a $10k credit card (yet)   =)

Message 1 of 8
7 REPLIES 7
Senior Contributor

Re: Barclay small CLI with imperfect credit

Congrats op any CLI is something to be proud of , we all have to start somewhere
Message 2 of 8
Regular Contributor

Re: Barclay small CLI with imperfect credit

FYI, I do believe the TU score provided by Barclays is a legit FICO score.  My Barclay TU and CCT TU are always within a few points of each other.  I'd assume the difference results in the days they are pulled.

 

Barclay has also been good to me, although others appear to not be so fortunate.


Green thumb since 11/12/2017
Message 3 of 8

Re: Barclay small CLI with imperfect credit

Congratulations on the CLI!!!!! It will grow jwith time. Just give it some time and request another CLI in 90 days or so.

Discover It, American Express Everyday, Chase Slate, Chase Signature, Kohls, Citi DC, Citi Costco Anywhere, Sears, Barclay Ring MC
Message 4 of 8
Valued Contributor

Re: Barclay small CLI with imperfect credit


@jawshoeuh wrote:

FYI, I do believe the TU score provided by Barclays is a legit FICO score.  My Barclay TU and CCT TU are always within a few points of each other.  I'd assume the difference results in the days they are pulled.

 

Barclay has also been good to me, although others appear to not be so fortunate.


They give TU08...

Congrats on your CLI (Even thought I personally think they suck-they are the ONLY one that hs ever CLD'd me, but other peoples MMV)

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 5 of 8
Established Member

Re: Barclay small CLI with imperfect credit

Message 6 of 8
Frequent Contributor

Re: Barclay small CLI with imperfect credit

Not sure if you are aware but some have had luck calling the regular customer service number to request an APR reduction. if there is an offer available they will transfer you to another dept. Otherwise if no offers are available for you you just have to wait and call again at another time (could be 30,60,90 days, etc). They willbe able to reduce your APR and maybe grant a soft pull CLI if one is available (you must ask for this AFTER you are transferred). I had my APR reduced but didnt have a CLI offer the last time I called. 

 

Good luck with your rebuilding. You know your limits; so keep sticking to them.

Message 7 of 8
Community Leader
Super Contributor

Re: Barclay small CLI with imperfect credit

Nice job. Also great way to think as you rebuild. Think of what you can handle so as not to get in debt again. I do this everyday. As much credit as ive earned since rebuilding and would like to use, knowing my monetary limits helps keep me in checkSmiley Happy. That and my Ficoland peepsSmiley Wink
#ChaseCreditCardHobby Enthusiast
2022
!
Message 8 of 8
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