Barclaycard CLD!!

[pi-r-squared]

Got a lovely alert on myFICO saying my Util shot up from 26% to 86%.  They CLD my card limit from $3800 to $1600.  And EXP dropped 8 points.  So it looks like it's time for plastic surgery (as Dave Ramsay would call it).  Or maybe sock drawer?

[gdale6]

I would first find out the reason for it; possible its from non usage. If those are overall util percentages you are talking about I would say you need to get more credit cards to increase overall available credit.

[pi-r-squared]

The CLD is most likely because of a recent aggregate threshold crossing back over 50%.  That's my guess.

[CreditCrusader]

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@pi-r-squared wrote:

Got a lovely alert on myFICO saying my Util shot up from 26% to 86%.  They CLD my card limit from $3800 to $1600.  And EXP dropped 8 points.  So it looks like it's time for plastic surgery (as Dave Ramsay would call it).  Or maybe sock drawer?

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Just to clarify, did the UTIL jump due to the CLD...or was the CLD a reaction to the increased UTIL?

[FinStar]

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@pi-r-squared wrote:

The CLD is most likely because of a recent aggregate threshold crossing back over 50%.  That's my guess.

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That is likely the culprit. They're simply mitigating risk, that's all. They're by far one of the most sensitive ones (but not the only ones) when it comes to CLDs depending upon any deterioration in CR profile.

Are you carrying a lot of balances on other accounts? How long have you been carrying the balance on this particular card?

[SouthJamaica]

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@pi-r-squared wrote:

Got a lovely alert on myFICO saying my Util shot up from 26% to 86%.  They CLD my card limit from $3800 to $1600.  And EXP dropped 8 points.  So it looks like it's time for plastic surgery (as Dave Ramsay would call it).  Or maybe sock drawer?

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Sorry you experienced that.

Barclays is known for doing things like that.

[Guyatthebeach]

pi-r-squared,

Was this a Ring card or another Barclay card? I know they cut mine down to $1300. I also know they closed other people's Ring cards or lowered the limits.

Was there a change in your CR? Barclays loves to SP everyone and is very sensitive to CR changes.

Guyatthebeach

[pi-r-squared]

This wasn't unexpected at all.   Had an opening CL of $5,000 and they once CLI'ed to $5,500.  Then, high util led to CLD to $3,800.  And this time a CLD to $1,600.  I have not been using the card much and paid it down to under 9% util. Then spent on it and reached 36%.  At the same time, was spending on other cards and aggregate is over 50%.  I plan to get money soon through inheritance so I'm not concerned because I know my scores will rebound.  Just not sure about CLs though.

[pi-r-squared]

I have an old-school CashForward card. I don't even know if they issue those anymore!

[805orbust]

Back in 2017 I posted a pic of my JetBlue card shredded in pieces sitting on a table. They CLD'd me and I immediately put it to bed...  No time for that at all. Still have the points tho. They really never expire. 🙂