Another Barclay CLD

[K-in-Boston]

---

@wasCB14 wrote:

It doesn't look that random to me. Lots of inquiries/new accounts/total credit...mediocre scores. It's often the same story. If it was random, we'd be seeing occasional reports of CLDs from people with 770+ FICOs.

---

Here's your occasional report... Wife got balance chased from $10k to $6k and change on her Ring this month - now instantly maxed out at 98.x%.  Her Barclaycard TU 08 score dropped from 776 to a horrible CLD-deserving 771 due to the $0 balance not yet reporting on a 2nd card from a BT to a 3rd card and that debt showing on two cards for a few weeks.  Just paid in full, but thanks to Barclay I bet her scores just plummeted until the next statement is reported to the CBs.  Needless to say, we're done with Barclay.  FWIW her TU FICO 08 is still about 20 points higher than when she opened the account last year and util is a few points lower even with the double-reported BT amount.

[Gmood1]

Closed my Barclay account over a year ago..and haven't looked back. They offered me a retention CLI, which I quickly turned down. I'm surprised they haven't went belly up yet.

Barclays is more trouble than they are worth. I don't know why people even bother. I've seen more CLDs from them than any lender in the forum.

[wasCB14]

---

@K-in-Boston wrote:

---

@wasCB14 wrote:

It doesn't look that random to me. Lots of inquiries/new accounts/total credit...mediocre scores. It's often the same story. If it was random, we'd be seeing occasional reports of CLDs from people with 770+ FICOs.

---

Here's your occasional report... Wife got balance chased from $10k to $6k and change on her Ring this month - now instantly maxed out at 98.x%.  Her Barclaycard TU 08 score dropped from 776 to a horrible CLD-deserving 771 due to the $0 balance not yet reporting on a 2nd card from a BT to a 3rd card and that debt showing on two cards for a few weeks.  Just paid in full, but thanks to Barclay I bet her scores just plummeted until the next statement is reported to the CBs.  Needless to say, we're done with Barclay.  FWIW her TU FICO 08 is still about 20 points higher than when she opened the account last year and util is a few points lower even with the double-reported BT amount.

---

Hmm...

Due to the double-reporting of the BT sum and the balance on Ring, what was her (apparent) overall utilization and debt-to-income?

Was Ring historically a PIF account? Before the CLD, the Ring was at nearly 60% utilization. That balance may have played a role.

[K-in-Boston]

Again, her stats are better now than when the card was opened with the $10k SL.  Overall util 26%, DTI not really an issue as we're high earners and DTI certainly lower than a year ago.  Card used for 2 short-term loans with their convenience checks (the 8ish% on the Ring is less than using a competitor's balance transfer check or Plastiq if paid within a few months) on home improvement projects since she's had it.  First one paid off in a few months, this one was done about 3 months ago and this was the third statement since.  Paid 8-10x the minimum the last two statements, so no fear of just making the minimums.

Using the card shouldn't be a reason to CLD, but it seems like their CLDs and account freezes have been getting even more frequent lately.  I've read the horror stories and always chalked it up to risky customers since we had had no issues.  This just seemed very random and that maxed out reporting due to the balance chase will permanently deter me from considering Barclay in the future.

[csryang]

You know, I am not sure why many people reporting CLD fromthem after a round of card application. 

I have tons of total opened credit cards like more than 25+. My total CL is 3-4 times my income currently. For the past 3 years or so, I usually opened 3-6 cards every 6 months typically on the same day.  I have two barclays cards and just got a third one. I barely use one card but use the other frequently with small charges. They are my 3rd highest total credit exposure. They never CLD me "yet" I guess....

I think my anal nature might have helped. I typically pay everything to zero except one card each statement cut and then pay it off before it's due. I never carry balances. 

Even if they do decide to CLD me in the future due to many credit inquiries, I know ways to CLI without hard pulls with them (you will know this if you do more research from this forum or from other places).  

They seem to be a cautious/jealous company but once you know how to "play" with them, you will be fine.