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Barclays CLD

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Valued Contributor

Re: Barclays CLD


@CreditMagic7 wrote:

(2) years was just about my history of terms with them. Got out before they got to me too.

 

I just want to add one thing for those who say ALL lenders do and are doing things like Barclays.

 

No they aren't. Yes, each Lender does have their own respective thresholds and can and will modify ON OCCASION to their own standards.

 

However Barclays is well KNOWN and proven to far exceed the rest of industry IMO when it comes to such actions and is why they have 100% safely cemented their position SOLID for such drastic actions as well as esteblished themselves within these forums for those same top honors.


When I was CLD'd it was almost a relief. I was constantly checking my accounts while peeking with one eye closed as the login page came up.

i had $40 k with them and was paying down a 4K balance from building my house.

i paid it off and closed my 4 accounts and my wife's 2.

i figure that if I can't depend on them then They won't be able to depend on me for profit

NFCU Flagship 74k-United Plus Explorer-50k-QS 25k-Avianca 28.8k-Cabelas 24k-Lowes 35k-USAA Amex 32k-FNBO Plat 31k-Numerous others at 20k and below
Message 41 of 62
Valued Contributor

Re: Barclays CLD


@woodyman100 wrote:

@CreditMagic7 wrote:

(2) years was just about my history of terms with them. Got out before they got to me too.

 

I just want to add one thing for those who say ALL lenders do and are doing things like Barclays.

 

No they aren't. Yes, each Lender does have their own respective thresholds and can and will modify ON OCCASION to their own standards.

 

However Barclays is well KNOWN and proven to far exceed the rest of industry IMO when it comes to such actions and is why they have 100% safely cemented their position SOLID for such drastic actions as well as esteblished themselves within these forums for those same top honors.


When I was CLD'd it was almost a relief. I was constantly checking my accounts while peeking with one eye closed as the login page came up.

i had $40 k with them and was paying down a 4K balance from building my house.

i paid it off and closed my 4 accounts and my wife's 2.

i figure that if I can't depend on them then They won't be able to depend on me for profit


I hated this feeling too. So glad its over. Smiley LOL


EQ688
TU700
EX707

Message 42 of 62
Established Contributor

Re: Barclays CLD


@Kevin86475391 wrote:

I don't have Barclays because I always hear terrible things about them on the forums, also hear terrible things about them from people in real life, and am not especially interested in any of their products. Definitely though, what stands out to me is that most CC companies seem to have both people that love and hate them. You may hear a lot of people annoyed with Chase for instance, but you'll hear a lot of good comments too. With Barclays, all I ever hear is how awful they are. At best I'll hear people say something like, 'they're okay' or 'I haven't personally had a problem' but I never come across 'Ra! Ra! Barclays!' type people like I see with other companies.

 

So yeah, I wouldn't sweat it if I were you. It probably is the other approvals. From what I hear, Barclays very much wants to be your only/main card...which seems like such an unattainable goal considering their lukewarm products. Smiley Very Happy


I for one have only had favorable experiences with Barclays. Instant 10k approval back in Oct/Nov 2014 for Sallie Mae. I then got a 5k instant approval on US Airways card for the 50k points in Jan 2015. Upgraded that card to Silver when it turned to Red Aviator to get free Global Entry. Downgraded my Silver Aviator to non AF card before AF hit in Jan 2016. Did a 2.5k BT with 2% fee in July and got an auto 5k CLI to 10k on Aviator. Granted most of my other cards are above 20k, I can handle 10k. I suppose my only gripe with Barclays is the Sallie Mae getting nerfed. But I only used it for the 5% categories and always PIF. Not sure what I'll do with either of the cards but I'll probably keep them both open and use neither and see what happens... or consolidate the limit on one into the other.. if Barclays allows that. My point being they aren't all horror stories.

TU Fico 841 as of 4/2017, Experian Fico 830 as of 3/2017, Equifax FICO 839 as of 3/2017.
Message 43 of 62
Valued Contributor

Re: Barclays CLD

Well it seems all but 2 comments on here are negative. It's hard to find another Prime (lol) lender that this is similar too. Sure we all have bad experiences with certain lenders but in general.... Barclays seems to be common. There is no reason. I meant what I said when I said this to silly kitty...I truly hope it doesn't happen to anyone. It's a terrible feeling to be punished for something you are doing right. It makes you question everything and makes you worried about your other accounts that you are doing well with.

I hope the few who have good experiences with them

(and I was one of them....I kept telling myself this won't happen to me because I am doing everything right)

Continue to have good experiences with them. I for one am glad in many ways this worry is over and I am washing my hands of them. I thought about calling and talking to someone but the point is I don't want to give business to a company who treats their customers this way, the customers who are trying to have good credit and maintain no debt and raise their scores, etc. I would much rather give it to companies like Discover who reward their customers for doing the right things.

FICO 09 TU= 787 (Aug) EQ= 774 (Aug) EX= 801 (Aug) Favorites: Citi DC, AMEX Gold and U.S. Bank Cash+
Message 44 of 62
Super Contributor

Re: Barclays CLD


@Djgrolyos wrote:
Well it seems all but 2 comments on here are negative. It's hard to find another Prime (lol) lender that this is similar too. Sure we all have bad experiences with certain lenders but in general.... Barclays seems to be common. There is no reason. I meant what I said when I said this to silly kitty...I truly hope it doesn't happen to anyone. It's a terrible feeling to be punished for something you are doing right. It makes you question everything and makes you worried about your other accounts that you are doing well with.

I hope the few who have good experiences with them

(and I was one of them....I kept telling myself this won't happen to me because I am doing everything right)

Continue to have good experiences with them. I for one am glad in many ways this worry is over and I am washing my hands of them. I thought about calling and talking to someone but the point is I don't want to give business to a company who treats their customers this way, the customers who are trying to have good credit and maintain no debt and raise their scores, etc. I would much rather give it to companies like Discover who reward their customers for doing the right things.


Very well said.

 

Barclays is been a bitter pill experience for many and not just to people who have had the axe fall. Maybe plenty of those are deserved and then again maybe Barclays is been one of those easy-to-burn one's that took it on the chin too many times in the past.

 

Who knows right?

 

When i first returned to card accounts after years free of them this forum was going through it's paces as always and it seemed everybody wanted to land a Barclaycard. After reading a few of the bad reviews and experiences i became suspicious of them but still they seemed harmless enough at the time to take a chance on so i did like others too.

 

When those chop job posts became almost a regular occurance they began to stick out like a sore thumb to me. However i maintained my (only) Barclay account as expected (i guess) and didn't have any issues.

 

What stood out RAW for me was the correspondence when trying to request a CLI (even with a HP). I was always fed that line, "looks like you have a STRONG payment history with us, BUT why did you open new Card A and new Card B recently (6 months ago) (They had better SL's Smiley Happy ). At the time my profile was thin and needed Prime Bank additions.

 

To make a long story short they said that they couldn't extend anymore credit to me at this time (in spite of good history).

 

In fact it was their Computer that approved my first Barclay Card for $5K Instant and after 6 months then a year still no go for a CLI. I eventually ended up finally getting the 8% Ring after a denial (of course) by going through a U/W who insisted to transfer the first Barclaycard limit in order to approve the card.

 

Took it upon myself to finally give up on that group for good before they might snatch what little limit that was already on the Ring Card and after closing reeled in a series of outstanding NEW card accounts that Barclay would have gone ballistic over the first one.

 

Everything will turn out fine for you OP now that you don't have to put up with their drama anymore.

 

 

 

 

 

 

 

 

Message 45 of 62
Mega Contributor

Re: Barclays CLD

IMO, the goal is to get to the point where all ccs are commedities, rather than valued relationships, and when a card is CLDd it is a hardly noticeable event rather than a big drama.   Except for rebuilders, CLDs really shouldn't have a whole lot of impact on anything, so it's not such a dreadful event, even if you think there is no justification for it (obviously the bank disagrees)

Message 46 of 62
Valued Contributor

Re: Barclays CLD


@CreditMagic7 wrote:

 

What stood out RAW for me was the correspondence when trying to request a CLI (even with a HP). I was always fed that line, "looks like you have a STRONG payment history with us, BUT why did you open new Card A and new Card B recently (6 months ago) (They had better SL's Smiley Happy ). At the time my profile was thin and needed Prime Bank additions.

To make a long story short they said that they couldn't extend anymore credit to me at this time (in spite of good history).

In fact it was their Computer that approved my first Barclay Card for $5K Instant and after 6 months then a year still no go for a CLI. I eventually ended up finally getting the 8% Ring after a denial (of course) by going through a U/W who insisted to transfer the first Barclaycard limit in order to approved the limit.

Took it upon myself to finally give up on that group for good before they might snatch what little limit that was already on the Ring Card and after closing reeled in series of outstanding NEW card accounts that Barclay would have gone ballistic over.


See, that doesn't sound like a very good experience to me. You had to call U/W to recon your denial, and move the limit from another card to get the card you wanted. Definitely more jumping through hoops than necessary with most lenders. Barclays is good for rebuilding, but there are definitely actions they perform that make us scratch our heads. Balance chasing customers is one of the rudest things I've seen them do that almost no other lender does.

 

The only other lender I know of that limits exposure the way Barclays does is Chase, but with better reasoning. With Chase it's more of, "You already have $25,000 of credit limits with us, so you'll need to move some of that to open this card." With Barclay's it's, "You already have $1,450 of credit limits with us. You'll need to close this card and move that limit if you want your precious ring." (In my Gollum voice).

 

 


Message 47 of 62
Valued Contributor

Re: Barclays CLD

Thx Magic. Smiley Happy
FICO 09 TU= 787 (Aug) EQ= 774 (Aug) EX= 801 (Aug) Favorites: Citi DC, AMEX Gold and U.S. Bank Cash+
Message 48 of 62
Super Contributor

Re: Barclays CLD

And another new victim yet again and so soon?

 

http://ficoforums.myfico.com/t5/Credit-Cards/Barclays-killing-me/td-p/4833836

 

 

Message 49 of 62
Valued Contributor

Re: Barclays CLD

What I think is so messed up is you do a BT of 5000. 3% in fees and now forced to pay it off quickly to stop the bleeding from the high UTI affecting you CS. In the end you might have probably paid less on the Intrest on the original card if you did the PIF or a couple large payments on the original card. . To me that's just a BS way for a bank to make money. Basically the big guy squeezing the little guy.

EQ688
TU700
EX707

Message 50 of 62
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