Barlcay CLD

[pizza1]

well shoot CA, sorry to hear that. I have always said from the very beginning when I started researching Barclays, and I started to find a Commonalities with this CCC, that they always push BT, and claim they love it! They really don't though.

Any chance I get, I tell people DO NOT ever do a BT to ANY Barclays cards. For some reason it always sets off red flags to them at some point or another.

Sorry this happened to you, that stinks!

[gdale6]

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@Chilli wrote:

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@gdale6 wrote:

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@Chilli wrote:

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@Creditaddict wrote:

UPDATE:  Called in and was transferred to a "Portfolio Specialist" who asked for updated work and income information and then placed me on hold to review reinstatement.

After a 5+ minute hold he asked about the new accounts and then stated he could not reinstate CL because of the new accounts and new inquiries since opening the card.

I told him to CLOSE THE ACCOUNT

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I can't figure out why Barclays would CLD people Around the holidays. I would've thought they would wait until they rake in all the swipe fee, etc from the holiday shopping.🤑

I have a rewards (over 1 1/2 years) and a ring (8 months old) with them.  I opened 5 new accounts since I opened my ring 8 months ago...3 new accts opened this week with Penfed. 

I am grateful for Barclays giving me the opportunity to rebuild with them but i will close them at the 1st sign of any AA.

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If you are considered to be a risk to the bank the last thing they would want you to do is run up a bunch of Holiday binge charges and then not be able to pay them back. The profit from the swipe and other fees would not cover the loss.

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I would agree if there were real risk involved but most threads have reported AA for a balance transfer and or opening a couple of new accts or having a couple of new inquiries. 

I don't get it, why would one who is paying their bills...more then the min bal. be a risk?

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Banks dont do things just for the sake of doing them especially CLDs. The risk doesnt have to be real but perceived. Anyone opening new accounts is a risk to current creditors they dont know if you are intending a spree including them as well. The longer you have accounts open and your profile ages the better of a read they can get on you and how you tend to handle your credit accounts. Something that often gets overlooked in a thread like this is the length one has had a credit profile. They also tend to get more jittery when you have multi times your yearly income already in credit available but again this can be overcome by a stable long profile showing how you handle your accounts. Of course no one knows for sure what spooks them but we do know Barclays doesnt like a lot of new accounts within 6 months of opening one with them and thats okay its how they choose to play the game.

[CreditCuriosity]

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@Chilli wrote:

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@gdale6 wrote:

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@Chilli wrote:

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@Creditaddict wrote:

UPDATE:  Called in and was transferred to a "Portfolio Specialist" who asked for updated work and income information and then placed me on hold to review reinstatement.

After a 5+ minute hold he asked about the new accounts and then stated he could not reinstate CL because of the new accounts and new inquiries since opening the card.

I told him to CLOSE THE ACCOUNT

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I can't figure out why Barclays would CLD people Around the holidays. I would've thought they would wait until they rake in all the swipe fee, etc from the holiday shopping.🤑

I have a rewards (over 1 1/2 years) and a ring (8 months old) with them.  I opened 5 new accounts since I opened my ring 8 months ago...3 new accts opened this week with Penfed. 

I am grateful for Barclays giving me the opportunity to rebuild with them but i will close them at the 1st sign of any AA.

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If you are considered to be a risk to the bank the last thing they would want you to do is run up a bunch of Holiday binge charges and then not be able to pay them back. The profit from the swipe and other fees would not cover the loss.

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I would agree if there were real risk involved but most threads have reported AA for a balance transfer and or opening a couple of new accts or having a couple of new inquiries. 

I don't get it, why would one who is paying their bills...more then the min bal. be a risk?

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Due to having excessive credit is considered risky for some lenders and one of those are Barclay's.  Having >600k available credit can set off some flags with said lender .  As lets just say he went hog wild and ran up of debt all lenders would be SOL.  Not saying this would happen, but that is how lenders possibly view it.

[kdm31091]

Assuming your income is "average" and not enormous, someone having 600k or more in available credit is likely going to be watched more closely and viewed as more risky because of the amount of potential debt. It's just how it goes. The more risk there is, the higher the chance of AA.

And yes, rapidly opening a bunch of accounts doesn't look good; Barclay's is one of the more sensitive with it but I don't think any lender likes to see it. That's one of the downsides of sprees.

[Open123]

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@gdale6 wrote:

Banks dont do things just for the sake of doing them especially CLDs. The risk doesnt have to be real but perceived. Anyone opening new accounts is a risk to current creditors they dont know if you are intending a spree including them as well. 

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Right, these decisions are purely based on computer algorithms; and, as such, a profile with many new TLs and increasing exposure relative to income has a high correlation with stratgic defaults.  While this may merely be guilty by association, the algorithms will certainly flag it for review.  In this case, Issuers have zero motivation to keep open any unused CLs or unprofitable TLs.

[woodyman100]

I've used my Wyndham card as an exclusive BT card for the last year. Not a peep and just received a CLI.
I have paid them off in 60-90 days each time and never went more than 50-60% utility.
As has happened to others, that could all go south in an instant if I come up for a more strenuous review