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Barclays killing me.

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Established Contributor

Re: Barclays killing me.


@austinguy907 wrote:

Yada yada yada Baclay's is bad yada yada yada.  Barclay's isn't "de-risking" or randomly CLD accounts.  This crap has been going on for years.  They're known to clock new account holders aftrer they give a decent approval if they see ANY other inq's or new accounts around the same time.  


Haha a surprising analogy from a Texas boy. Although having lived in Cedar Park I know Austin is a refuge. Been down to that bat bridge thing a bunch. 

FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 21 of 39
Senior Contributor

Re: Barclays killing me.


@rlx01 wrote:
 The other equally plausible possibility is that their risk algorithms are junk.                                                                                                                        
humuhumunukunukuapua'a wrote: 
I think this is the likely explanation for what is going on with Barclay's. From what we've seen on the board, in almost every situation the limits were restored when the cardmember called in and spoke with a live person and asked to have their limits restored. It's a pain and it's not right to have to do that, but that sequence seems to indicate an overly sensitive algorithm system that is corrected most times by a rational person reviewing what happened.


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Message 22 of 39
Super Contributor

Re: Barclays killing me.


@gdale6 wrote:

Its not just CC holders Barclay goes after   http://www.independent.co.uk/news/business/news/barclays-stop-trading-with-clients-boost-profits-a74...


GREAT FIND! gdale6 and a perfect read to boot.

 

Hah ha, it's Barclays way or the highway. Typical greed stricken disease of the blind.

 

Great incentive for those customers to take their business to better quality returns elsewhere.

 

 

 

 

Message 23 of 39
Mega Contributor

Re: Barclays killing me.


@gdale6 wrote:

Its not just CC holders Barclay goes after   http://www.independent.co.uk/news/business/news/barclays-stop-trading-with-clients-boost-profits-a74...


As a Barclays apologist, this strategy really makes sense, and as the article notes, Barclays is hardly alone in this.   And clearly the same reasoning can be applied to credit card holders, and I would expect other issuers to become more selective if the economy declines.    Probably the cost of keeping a fairly inactive credit card user is low, but once, in myfico style, they call for recons, for APR reductions and CLIs, they start introducing real costs, which need to be offset by real profits.....

Message 24 of 39
Mega Contributor

Re: Barclays killing me.


@CreditMagic7 wrote:

@gdale6 wrote:

Its not just CC holders Barclay goes after   http://www.independent.co.uk/news/business/news/barclays-stop-trading-with-clients-boost-profits-a74...


GREAT FIND! gdale6 and a perfect read to boot.

 

Hah ha, it's Barclays way or the highway. Typical greed stricken disease of the blind.

 

Great incentive for those customers to take their business to better quality returns elsewhere.

 

 

 

 


Well, their way is "be profitable" and "Barclays is embarking on its second round of pruning as the industry follows suit." so poor profit customers might not find welcoming homes elsewhere.

Message 25 of 39
Valued Contributor

Re: Barclays killing me.

The moral of the story appears to be that if you want a Barclay card with a good limit to stay that way, do not app for other cards at or around that time, for a while.

Message 26 of 39
Established Contributor

Re: Barclays killing me.


@yfan wrote:

The moral of the story appears to be that if you want a Barclay card with a good limit to stay that way, do not app for other cards at or around that time, for a while.


Or ever.  Because they'll know.

Message 27 of 39
Valued Contributor

Re: Barclays killing me.


@TygerHawke wrote:

@yfan wrote:

The moral of the story appears to be that if you want a Barclay card with a good limit to stay that way, do not app for other cards at or around that time, for a while.


Or ever.  Because they'll know.


I don't think it's 'ever'. I don't think Barclays cares if you get their card today and get another card from another lender 3 years down the line. It's quickly seeking credit at or around the time of getting their own card that they see as risky. That could extend to any app sprees, of course, but I don't think to a single app far enough in the future.

Message 28 of 39
Community Leader
Senior Contributor

Re: Barclays killing me.

Well, if Barclays CLDs me because I just got approved for the QS, I'm just going to call recon and explain that I did it to secure a lower APR from Cap1 because they aren't as reasonable as Barclays.😀
Current Scores: EQ 679;TU 647; EX 679 Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015
Message 29 of 39
Highlighted
Valued Contributor

Re: Barclays killing me.

I did mine 3 months later and got CLD
FICO 09 TU= 787 (Aug) EQ= 774 (Aug) EX= 801 (Aug) Favorites: Citi DC, AMEX Gold and U.S. Bank Cash+
Message 30 of 39
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