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Barclays is a fickle b****

Ragelog
Established Contributor

Barclays is a fickle b****

So after 10 months of having a Barclays Ring card I decide to use it for a balance transfer $1956.03 on a $6600 limit. Transfer is approved all seems well. I login today and notice my available credit is now 443.97 they reduced my credit line by $4200 because I decided to use their product. I have send a secure message inquiring. I am tempted to just pay it off and close the account if that is how they decide to treat customers.

 

Anyone have any success getting their limit reinstating when they decide to do something like this?

 

Thanks,

 

Sam

EQ04 675, EQ08 676, EX08 719, TU08 703 $12704.75/$123050 Revolving Credit (All 0% or 1.99%) - In Garden Since 5/25/2016

Last negative item should fall off in July 2017.
Message 1 of 35
34 REPLIES 34
AverageJoesCredit
Community Leader
Mega Contributor

Re: Barclays is a fickle b****

Wow, simply ridiculous!. Why cant they just contact their customer and inform them that using their product and offers is a no no and that they are going to reduce the available credit so one doesnt have to go to maxed out , smhSmiley Sad
Message 2 of 35
Ragelog
Established Contributor

Re: Barclays is a fickle b****


@AverageJoesCredit wrote:
Wow, simply ridiculous!. Why cant they just contact their customer and inform them that using their product and offers is a no no and that they are going to reduce the available credit so one doesnt have to go to maxed out , smhSmiley Sad

Yeah I mean the purpose of a card like the Ring would be either balance transfer or a large purchase that you plan to pay off over time generally. It makes no sense. I will wait for their response but will like either pay it off or use one of my many other options and sock drawer the card until it gets closed or something.

EQ04 675, EQ08 676, EX08 719, TU08 703 $12704.75/$123050 Revolving Credit (All 0% or 1.99%) - In Garden Since 5/25/2016

Last negative item should fall off in July 2017.
Message 3 of 35
AverageJoesCredit
Community Leader
Mega Contributor

Re: Barclays is a fickle b****

Agree, why have a low apr card if you cant use to carry a balance. Im sure itll be asked soon but by chance any changes to your profile recently?
Message 4 of 35
Ragelog
Established Contributor

Re: Barclays is a fickle b****

Im at about the same utilization no new negatives and less inquiries than when I applied for it. I do have a balance transfer with Capital One as it made sense to take it and pay off my Lending Club loan as the APR was decently less. 

EQ04 675, EQ08 676, EX08 719, TU08 703 $12704.75/$123050 Revolving Credit (All 0% or 1.99%) - In Garden Since 5/25/2016

Last negative item should fall off in July 2017.
Message 5 of 35
Creditplz
Valued Contributor

Re: Barclays is a fickle b****

Barclay flew out of my bucket list while reading recent posts :/ sorry op
Message 6 of 35
Harley14
Valued Contributor

Re: Barclays is a fickle b****

So basically paid a 3% BT fee for nothing if your gonna pay it off. Could have done that on the original card and paid 0%.
It should be illegal for barclay to do that. It's a shady way of barclay to make a few dollars if you ask me!

EQ688
TU700
EX707

Message 7 of 35
AverageJoesCredit
Community Leader
Mega Contributor

Re: Barclays is a fickle b****

True shame. They should borrow a few pages from Boa. I have 3 BTs going on at once and they are being great to me. I know things can change and their are risks but what gets me the most is when banks bombard you with offers to BT and when you do , they end up penalizing you, just not right!
Message 8 of 35
Ragelog
Established Contributor

Re: Barclays is a fickle b****

Fortunately no bt fees with the Barclays Ring card.
EQ04 675, EQ08 676, EX08 719, TU08 703 $12704.75/$123050 Revolving Credit (All 0% or 1.99%) - In Garden Since 5/25/2016

Last negative item should fall off in July 2017.
Message 9 of 35
yfan
Valued Contributor

Re: Barclays is a fickle b****


@Ragelog wrote:

So after 10 months of having a Barclays Ring card I decide to use it for a balance transfer $1956.03 on a $6600 limit. Transfer is approved all seems well. I login today and notice my available credit is now 443.97 they reduced my credit line by $4200 because I decided to use their product. I have send a secure message inquiring. I am tempted to just pay it off and close the account if that is how they decide to treat customers. 

 


I think that's the best route. These stories are pretty frequent if you read MyFico. My guess here is that it's not the balance transfer that triggered the CLD but your relative lack of general use of the card. Barclays saw the relative non-use followed by a large balance transfer as a potential credit risk because even though you BT'ed to take advantage of their rates, they may have viewed it as a customer starting to have money trouble.

Message 10 of 35
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