Barclaycard does CLDs too!

[longtimelurker]

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@Anonymous wrote:

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@Man-Of-Steel wrote:

OP, sorry to hear about the CLD, but it's good to know that you have the funds to pay the account all the way down.  In addition to being diversified, it is also great when you have some savings available to pay down an account like this to prevent an impact (or further impact) on your score.

In another thread, they warn that this is the CLD season. 

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I am fairly new to the credit game, but I am a bit surprised by this. Don't they want heavy shopping during the holidays? I was always under the impression that lenders are more generous near the holidays.

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While issuers want more spend to generate fees, they want to maintain reasonable risk levels.  I would guess that risk goes up during the holidays as people overextend and maybe default, so the issuers probably pay closer attention and are not "more generous"

[red259]

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@gurusexy wrote:

Went on an international trip, spent some money..... statement hit and barclaycard gives me a CLD taking my utilization from 70% to 94%....

I am not even mad... Will just pay it off, then close the card and thats that....

Talk about loyalty....  :-) ..Its all good......

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This is probably what I would do. If someone CLD me I'd kick them to the curb. Were you carrying a balance at 70%? I've been carrying like a 50-60% balance for the past year on my barclays card but make well over the min payment each month. Barclays isn't worth losing sleep over. 

[yfan]

Keep in mind that it isn't just Barclay's that might be spooked. Seeing high utility on one card on your report can spook other creditors too (even if the high utility is not on their card). I'd ask Barclays to do a mid-cycle CR update when the account gets paid off.

[Anonymous]

Rather than close a card after a CLD, I think I'd find more enjoyment in continuing to be unprofitable by only using the card to spend on bonus categories.

[CreditMagic7]

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@CreditCuriousity wrote:

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@baller4life wrote:
+1000 Never expect loyalty from these banks. Cover your back and diversify!!

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especially barclay's

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There are certain lender cards that you absolutely do not want to ever rely on with any regular confidence and that one is already earned a solid reputation for shenanigans as evidenced all over these forums almost nonstop sometimes.

[baller4life]

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@red259 wrote:

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@gurusexy wrote:

Went on an international trip, spent some money..... statement hit and barclaycard gives me a CLD taking my utilization from 70% to 94%....

I am not even mad... Will just pay it off, then close the card and thats that....

Talk about loyalty....  :-) ..Its all good......

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This is probably what I would do. If someone CLD me I'd kick them to the curb. Were you carrying a balance at 70%? I've been carrying like a 50-60% balance for the past year on my barclays card but make well over the min payment each month. Barclays isn't worth losing sleep over. 

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I know I haven't lost one wink of sleep after closing ALL my Barclays card. Aint nobody got time for Sir Barclays and their shenanigans. 

[Anonymous]

I want to like Barclays as they were the second card to let me in on my rebuilding journey.  Cap1 being the first.  Now I'm approaching 1 year with the rewards card and it is by far and away my lowest limit card.  I've just put the card at 30% utl today with two purchases and I'll pay it off and then run it a little more this month seeing that my one year mark is coming up.  See what happens I guess, I have the Wyndham card from them with 5x the the limit of the rewards card lol.

If no big increase I'll get something like the Choice hotel card and cancel the rewards card I guess.

[longtimelurker]

Apart from the Barclays hate, there are a lot of people here happy with some/all of:  Sallie Mae (no longer offered but still), UPromise, Arrival + and Ring.   Not all bad!

[CreditMagic7]

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@longtimelurker wrote:

Apart from the Barclays hate, there are a lot of people here happy with some/all of:  Sallie Mae (no longer offered but still), UPromise, Arrival + and Ring.   Not all bad!

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I don't think that it borders so much on hate but rather complete and total frustration at the notorious sensitivity that Barclays is continued to exhibit over time and with that they have been so much more than consistent with the AA practice. And it's a really beneficial n good thing for forum members here that plenty of attention has been brought up about it. Just think of the many other card holders that been caught equally off guard that don't have the same ready access to informational TRENDS and results that our forum members do so we can make some provisions to prevent as best we can also falling under the AXE.

[Anonymous]

there are many factors that go in AA. they have plenty of reason to AA me but haven't yet. got them june 4 and have opened up 10 accounts since then and barclay still gave me a CLI and APR reduction this month (only 5 months in, not even five statements) and i only use them for 5% categories.