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Barclay's CLD - IDIOTS !!!

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ArCpa
Contributor

Re: Barclay's CLD - IDIOTS !!!

peaceonearth, My properties consist of 3 small apartment complexes. A total of 46 units , they stay 95% full yr around. I dont know if someone who consider that High Risk. But either way i dont think that played a part in  Barclay's decision .

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Message 81 of 121
toi34
Established Contributor

Re: Barclay's CLD - IDIOTS !!!

I keep reading posters say " don't take the CLD personally, look at it from a business perspective" and "take the emotion out of it," but It is easy to quarterback when it isn't you and your FICO score that has taken a dive because the bank reduced your CL down to your balance and now all of a sudden you have a maxed-out card. Aren't we all on this forum so we can support each other in building credit? Where is the compassion?

 

...I'm just saying...

Message 82 of 121
peaceonearth
Established Contributor

Re: Barclay's CLD - IDIOTS !!!


@ArCpa wrote:

peaceonearth, My properties consist of 3 small apartment complexes. A total of 46 units , they stay 95% full yr around. I dont know if someone who consider that High Risk. But either way i dont think that played a part in  Barclay's decision .


I disagree; lenders do make decisions based on your Job or Type of Business.

Message 83 of 121
Hockeyplayrr
Frequent Contributor

Re: Barclay's CLD - IDIOTS !!!

Assuming the OP didn't send up any red flags such as high balances, etc.. No one really knows how much the OP was charging each month.  What if he just had a netflix subscription posting that he paid in full for 3 years.  Clearly he doesn't need to 9k credit line and when they saw him open up even more credit they adjusted it to what was appropriate.  Banks are businesses too.  They have to go where the money is and allocate credit to customers that will use it and create a profit for them.  It's not like the relationship was severed completely.  (PS only read the first 5 pages if I missed some stuff sorry).

Credit Scores: Equifax - 744 (Oct FICO) | Experian 736(Oct Fico) | Transunion - 755(Oct Fico)

Credit Lines: Diners Club 20k | Penfed Plat Rewards 7k | SDFCU 5k | Amex BCE - 10.5k | Chase Freedom 4.5k | CSP - 10.6k | Discover IT - 9k | Sallie Mae 3.8k | BofA 123 - 4.9k | CITI Double Cash 9.1k | Total Rewards 3.25k
Message 84 of 121
IamB2
Established Contributor

Re: Barclay's CLD - IDIOTS !!!

From a strictly business perspective, Barclay's is well within their right to do this, obviously. People tend to get emotional when someone takes away some privilege. But, again, let us not forget that it is privilege that banks extend us (for a fee of course) to use their money. OP stated that he/she pays in full each every month. So, Barclay's is not making any money from him. They can't justify extending the 9K risk with absolutely NO reward from the OP. Banks don't lend money out of the goodness of their hearts. They want to make money. If they aren't getting any from you, the will minimize their risk. I would do the same - although I wouldn't be happy about it either.

 

Just my two cents.

FICO® EQ 717 (3/5/15); TU08 732 (3/5/15); EX: 723 (3/5/15) - Last app 3/15/15; Inquiries: A TON!

CITI ThankYou Preferred - CL: $2,000




Starting Scores: 590s on 12/2013. Hover over card image to view details! *After Amex approvals - [I was supposed to be] Gardening!*
Message 85 of 121
peaceonearth
Established Contributor

Re: Barclay's CLD - IDIOTS !!!


@enharu wrote:

@SorenX wrote:

It almost seems like there'd be a law against that (not that I'm in favor of excessive government meddling). 

 

If you've always had a good history with them I really don't see why they'd drop your limit. Not only is it clearly bad from a customer service perspective but it's simply not warranted. It's like punishing you in advance for a crime you MIGHT commit but haven't already committed. 

 

I believe this was covered in Minority Report. 


so you want to make risk management illegal....?

the lack of risk management was precisely what got the economy into its current state.

 

OP got a lot of new credit over a short period of time. To any bank, this is regarded as risky behavior. We don't know what his income is, but there's also a possiblity that Barclays may have decided that OP has too much CL compared to his income.

 

Edit: To add, Barclays isn't punishing him. Barclays is simply not wanting to lend OP as much money as before. They are not obliged to. Neither is OP obliged to remain as a customer. What you are claiming is essentially saying just because I let a friend stayed overnight at my house once, he is now entitled to stay at my house for the rest of his life. 


+1

Message 86 of 121
ArCpa
Contributor

Re: Barclay's CLD - IDIOTS !!!

peaceonearth, My rental income is secondary, Im a CPA by trade, my job is not considered risky and no lender would think otherwise.

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Message 87 of 121
ArCpa
Contributor

Re: Barclay's CLD - IDIOTS !!!

Hockeyplayrr and IamB2 You both might have answered the question. The first 2 yrs i spent and alwasy pif. The last yr i might have spent maybe 3-400.00 with Barclays. I looked at my experian report and noticed the have been sp every 60 days or so. Because it cant have anything to do with my income or credit scores or activities with other lenders.

CC: Amex Green ( NPSL) Amex BCE ( 38.1 K ) US Bank Sig Cash ( 20K ) Pen Fed (42K) Chase Freedom ( 7.5K) Discover More (22K ) Cap 1 QSilver (10K) Barclays Rewards (9K) Care Credit (5.5k) Sears (12K) JC Pennys (6K) Dell (15K) Key Bank (19k ) Key Bank (16K) FFO (7.5 K) Shell ( 600) OCCU ( 20K ) City TY (10.5K) CSP (17.5k) Regions ( 18K )Simmons (15K) Regions BLOC (125K) Fuel Rewards MC(10K )Amex Hilton ( 23k)

TU ( MFICO 5/11/14) 812
EQ ( MFICO 5/11/14) 790
EX ( MFICO 5/11/14) 805

Message 88 of 121
otter69
New Contributor

Re: Barclay's CLD - IDIOTS !!!


@myjourney wrote:


What good is an ignore list if you end up seeing posts by those users you are trying to ignore?


I don't do senior citizen activities like Bingo, needlepoint, shuffleboard, square dancing, and ABSOLUTELY NO GARDENING!
Message 89 of 121
myjourney
Super Contributor

Re: Barclay's CLD - IDIOTS !!!


@otter69 wrote:

@myjourney wrote:


What good is an ignore list if you end up seeing posts by those users you are trying to ignore?


Silence would probably do 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 90 of 121
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