Barclay CLD/AA

[Anonymous]

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@Gmood1 wrote:

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@Justagirl73 wrote:

Question.....what affects FICO the worse? Me closing my 6 month Barclays cc or them cld? 

I really wanted to leave open for a year, then close...but I'm not sure if that's best. Thoughts? 

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That's exactly what I did. I kept the account open for a year and then closed it. Good riddance Barclay!

From everything I've read so far, it won't affect you either way ..unless utilization is high.

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Hopefully I can make it a year w/o CLD. 😳 I was just approved for one of my wish cards today so I'm on thin ice. 

[Gmood1]

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@Justagirl73 wrote:

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@Gmood1 wrote:

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@Justagirl73 wrote:

Question.....what affects FICO the worse? Me closing my 6 month Barclays cc or them cld? 

I really wanted to leave open for a year, then close...but I'm not sure if that's best. Thoughts? 

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That's exactly what I did. I kept the account open for a year and then closed it. Good riddance Barclay!

From everything I've read so far, it won't affect you either way ..unless utilization is high.

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Hopefully I can make it a year w/o CLD. 😳 I was just approved for one of my wish cards today so I'm on thin ice. 

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Congrats! I'm always on thin ice. I'm accustomed to it though. Lol

[kdm31091]

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@sillykitty1 wrote:

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@CreditMagic7 wrote:

That's the thing about Barclays.

They have a special pool of cardholders they keep close and see to their satisfaction, and then there's everybody else

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This makes it sound like there is some secret criteria, or Barclay's just chooses some card holders at random.  It is pretty clear from all of the AA stories that Barclays is risk adverse.  They are particularly sensitive to aggressive credit seeking.  So if you have a Barclay's card, and want to keep it, either moderate your credit seeking, or have a otherwise very strong profile to offset the risk factor.

Barclay's wouldn't be in business if they were alienate the majority of their cardholders and only satisfying a "special pool of cardholders"  

Threads like these make Barclay's seem like the boogeyman, like there is no rhyme or reason for their actions.  It encourages people to irrational things like proactively close thier Barclay's account in fear of an AA.  IMO, that is paranoia.  So worst case, you get "Closed by Creditor", and best case you to keep your account, maybe even grow your account, and use the benefits that come with the card.  Btw ... I have a "Closed by Creditor" on my CR (OCCU), and my score is over 800 ....

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Spot on. I get that some people are resentful over past AA with Barclay, but it leads to people becoming misguided and paranoid. Like you said, the AA stories make the pattern pretty clear. Don't have to like it, but it's no mystery.

They do not just have a group they "like", nor do they randomly close accounts. A lot of us have been on here long enough to see the patterns. We don't need to present Barclay as the boogeyman.

Like you said, people end up doing irrational things like closing cards before anything bad has even happened.

Anyway, I'm sorry about the AA, OP.

[SouthJamaica]

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@kdm31091 wrote:

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@sillykitty1 wrote:

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@CreditMagic7 wrote:

That's the thing about Barclays.

They have a special pool of cardholders they keep close and see to their satisfaction, and then there's everybody else

---

This makes it sound like there is some secret criteria, or Barclay's just chooses some card holders at random.  It is pretty clear from all of the AA stories that Barclays is risk adverse.  They are particularly sensitive to aggressive credit seeking.  So if you have a Barclay's card, and want to keep it, either moderate your credit seeking, or have a otherwise very strong profile to offset the risk factor.

Barclay's wouldn't be in business if they were alienate the majority of their cardholders and only satisfying a "special pool of cardholders"  

Threads like these make Barclay's seem like the boogeyman, like there is no rhyme or reason for their actions.  It encourages people to irrational things like proactively close thier Barclay's account in fear of an AA.  IMO, that is paranoia.  So worst case, you get "Closed by Creditor", and best case you to keep your account, maybe even grow your account, and use the benefits that come with the card.  Btw ... I have a "Closed by Creditor" on my CR (OCCU), and my score is over 800 ....

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Spot on. I get that some people are resentful over past AA with Barclay, but it leads to people becoming misguided and paranoid. Like you said, the AA stories make the pattern pretty clear. Don't have to like it, but it's no mystery.

They do not just have a group they "like", nor do they randomly close accounts. A lot of us have been on here long enough to see the patterns. We don't need to present Barclay as the boogeyman.

Like you said, people end up doing irrational things like closing cards before anything bad has even happened.

Anyway, I'm sorry about the AA, OP.

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I feel the same way. Yes it appears that Barclays doesn't seem to like, and sometimes is provoked to take irrational adverse action by, innocent things, such as (a) opening new accounts with other institutions, (b) taking advantage of a cash advance offer, and/or (c) taking advantage of a balance transfer offer. And yes I am guilty of all 3 of those sins, over and over and over again.

But the way I look at it, if Barclays takes adverse action, I'll survive. So I'll have a lower credit limit, or a closed account. So what?

I like my Barclays cards, especially the Ring, which is my favorite credit card of all my credit cards. So I see no reason to close my accounts, just because I read somewhere that Barclays might take adverse action some day.

I just manage my accounts in a way that no rational lender would find objectionable, and hope that Barclays acts like a rational lender.

If they don't, that's life.

[Anonymous]

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@Anonymous wrote:
Yeah that sucks my favorite analogy is the jealous girlfriend who helped you out. As you gain more confidence (credit) you get wandering eyes and start taking more envelopes in the mailbox and she don't like that. Oh he* * no!

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[Anonymous]

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@sillykitty1 wrote:

So to provide some balance ... Barclays can be very good lender, if they like your profile ....

I started out with a $800 approval on the Arrival 3 years ago.  At that time I had a thin file, with only one cc w a $320 CL and a few very old lates on installments.  Now three years later I have $30K in credit w Barclays, with continued auto and SP CLI's.

I have done things that are supposed to bring a Barclay's AA:

• Agressive credit seeking - Barclays was my second cc, now, 3 yrs later I have 20 cc's and $300K in CL's
• Using BT's - Used the 1% offer multiples times, recied auto CLI's after each one
• High Utilization - I've never had overall high utilization, but I do show some cards near maxed month after month, due to high usage & BT's

Why I think I've have a positive Barclay's relationship

• Long stable profile, going back to 1995
• Multiple mortgage TL's on CR
• Relatively high income
• Never pay interest, always pay far over minimum on BT's
• No baddies (lates fell off the CR soon after I opened my first Barclay's card)

So, while I agree that Barclay's is quite risk adverse, I disagree with all the doom and gloom of Barclay's AA.  IME, it is possible to do a fair amount of credit seeking, and have a postive Barclay's relationship.  But the credit seeking needs to be balanced with an otherwise stable profile.

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Well said! I have done similar things with no AA from Barclay too.  

[Anonymous]

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@Anonymous wrote:

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@sillykitty1 wrote:

So to provide some balance ... Barclays can be very good lender, if they like your profile ....

I started out with a $800 approval on the Arrival 3 years ago.  At that time I had a thin file, with only one cc w a $320 CL and a few very old lates on installments.  Now three years later I have $30K in credit w Barclays, with continued auto and SP CLI's.

I have done things that are supposed to bring a Barclay's AA:

• Agressive credit seeking - Barclays was my second cc, now, 3 yrs later I have 20 cc's and $300K in CL's
• Using BT's - Used the 1% offer multiples times, recied auto CLI's after each one
• High Utilization - I've never had overall high utilization, but I do show some cards near maxed month after month, due to high usage & BT's

Why I think I've have a positive Barclay's relationship

• Long stable profile, going back to 1995
• Multiple mortgage TL's on CR
• Relatively high income
• Never pay interest, always pay far over minimum on BT's
• No baddies (lates fell off the CR soon after I opened my first Barclay's card)

So, while I agree that Barclay's is quite risk adverse, I disagree with all the doom and gloom of Barclay's AA.  IME, it is possible to do a fair amount of credit seeking, and have a postive Barclay's relationship.  But the credit seeking needs to be balanced with an otherwise stable profile.

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Well said. I don't think it's all doom and gloom either. Any lender/bank has a right to be worried if they see someone has opened like 10 accounts or so in the 6-8 months after signing up with them. I guess you just have to be more careful with them than you would someone else.

Me personally, my card habits aren't changing. I have a relatively young credit history, but I don't feel like I'm walking on egg shells with them. If something happens, it happens. People worry the same with AmEx and their FR. Nothing you can do.

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+1

[Anonymous]

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@Anonymous wrote:
Had the BK when I got the card, BK was 9.5 years ago, medical collection for a measly 147$ From 2012 but only shows up on EQ they send me a TU report. So that's not even there. The cld doesn't get me as much as the "just lowering it and shooting my uti up".
Yearly income 180k, highest CL is 20k with Amex, and a car this expensive isn't out of my norm. 3 brand new Harley's between 30-40k paid off in the last 7 years, 2 trucks, 1 car no lates, missing payments on any of them. Actually most paid off between 9 mo to 1.5 years time.
So no it's not a lot according to my credit. All my installment car loans range from 7k to 70k all satisfactory.
bk was hard and yes I've paid the price. But it's 9.5 years old now. I just really haven't had any CC. Didn't like them but as we're looking to get another house soon the bank talked me into it to help my credit.
I just thing they have way to much power to just lower something to the point your uti jumped up so much and pretty much destroyes your credit until you pay it off. Was no problem for me just to send in the entire balance. I do that every month as it is. But what about the people who can't?
Plus I made my wife an authorized user. Was some promotion they were sending me. "Add an authorized user to help get cash points" blah blah blah. Well it tanked her credit score too. Now I fell bad. She has flawless credit. Never a bad thing on it.

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The utilization issue is temporary and will resolve itself. 

[pizza1]

oh no..Harley, Im sorry to hear about this

you know..I read this, and I was just like UGH! Ive seen a few of these in the past, and keep thinking to myself why do I even still have them!

Its weird how they pick and choose who they AA. I mean, Ive been holding my breath for the last 2 yrs, LOL!!

But, thankfully (knock of wood), Ive remained intact. My card has survived thru 3 major app sprees collecting 5-10 new acts a pop, gobs of new INQ, and my TU score roller coasting by 10 pts during those sprees.

I can't for the life of me think why they still "tolerate me", LOL..But, Ive also treated them very carefully.....PIF monthly and charge $20-$100 a month, PIF before statement cuts, keep a 1% overall util reporting at all times so if they SP me theres not much to see (except a ton more of new acts and INQ LOL)..eek!

I also have the Sallie Mae $7090 cl (weird i know), so don't know if that makes a difference since its a co-brand, and not one of "theirs"...

Anyway...took guts to come forward and tell your story, and again, Im sorry it happened to you. I know you'll find another one of your lenders who will treat you better

[Anonymous]

Barclay's good?  Barclay's bad?  Don't even worry about it.  Get rid of it!  I'll promote them positively only after they pay me to do so.  I'll the gladly tell you you have a very good chance of approval...but I won't tell you it's a $500 SL.