Creditors that will CLD you at the drop of a hat

[Anonymous]

Barclays was my first credit card after 14 years of not having one.  They soft pulled me like crazy.  Got a stingy CLI once.  Once the Comenity cards led me to approvals with Chase, Citi and Synchrony, I dropped Barclays like a bad habit.  I gave Barclays an Adverse Action myself.

[Anonymous]

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@Discover2016 wrote:

This is my view on it, BofA does seem to be a bit more trigger happy, but in the grand scheme of things, it's pointless to worry about it. Don't forget also that we are also measuring BofA's AA tendencies through the lens of the myFICO forum posts. For example, for the next year or so I am currently at high risk from AA from BofA, they are my highest card, I have taken the card from 1.7K to 18K in slightly less than a year, I also added 9 new accounts in my spree of last September. So if I get AA'd by BofA, it's not the end of the world, I currently have cards from five different creditors, so I will always have a functional card for car rentals, flights, etc. There are also many creditors to choose from, I can also add PenFed, NASA, heck even Capital One (Venture only) if I had to for diversity. So I view the first 18mo of my credit building as "sea trials", an opportunity to see which creditors don't cut it. 

PS: If you are in a similar position as I am, recent app spree etc and you have a BofA account, there are things you can do to lessen your chance for AA:

• Don't call them for minor things that will only draw scrutiny to your account, APR reductions, product changes.
• Keep inquiries to a minimum and GARDEN, BofA seems to relax a bit after 6mo has passed from an app spree: (6mo after my Sept app spree, BofA only SP's me once a month, they were SP'ing me weekly after my spree, I also have new prequals that appeared at 6mo post spree)
• Keep utilization less than 30% on individual cards and 10% overall

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Thanks for sharing your story and advice on what not to do.

[Anonymous]

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@kdm31091 wrote:
Ultimately I agree that life's too short to worry about it. At the end of the day it's just credit cards and if AA happens deal with it, and life goes on.

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+1

[Anonymous]

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@baller4life wrote:

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@galahad15 wrote:

IME, I have not personally had any issues with AA from Barclay, but the biggest AA I received was from Citi and BoA.  During CARD Act, Citi attempted to RJ me on 2 cards from 5.99% F and 5.74% V to around 19% V or so on both.  I declined and opted out to preserve the existing rates, and as a result, Citi closed down about $27k in total credit limits that I had with them previously, not fun 

BoA is a bit of a different story, they are actually my favorite cc lender of all, but they also did a $16k CLD  to me on 2 accounts a few years ago, all simply for asking for an APR decrease.  I have since been able to (albeit very slowly) start to build my total CL with them back over time, and even though they took the $16k CLD AA against me earlier, they are simply too important and valuable to my current card collection for me to want to close out any of my cards with them.  I have to give them credit actually tbh, they could have potentially closed down my accounts completely, which would have been a much harsher punishment if they had, but thankfully they did not.  My #1 favorite card in my present collection is my BoA Cash Rewards WMC, so it would hurt incredibly if they were to close that one down or take further AA on it, and so I have also taken recent action to reduce my risk of AA exposure with them by paying off huge amounts of my revolving balances with them, I think right now my total util with them is actually below 10%?

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BOA is like that stern parent that puts you in time out. You might sulk and be mad at them for a lil while for punishing you. But, you never stop loving them! 💜

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I  your analogy of BoA!

[galahad15]

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@Thomas_Thumb wrote:

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@longtimelurker wrote:

As someone said earlier, our data is all through the myfico lens, with all that implies (a large number of rebuilders, aggressive credit seeking in both new lines and CLI requests etc) and so it may well be that certain banks, such as Barclays, consider these behaviors more risky than some other banks.    

But in general, we don't know if there are lots of  "normal" people, with 3 credit cards that they have had for years, opening letters to find that Bank X has closed one of their cards "for no reason" and Bank X could be very different from the usual suspects here.

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Yes,

It happens to normal people who don't use their cards. A few "normals" who have posted here mentioned Wells Fargo closing their card with "only" 6 to 12 months of inactivity. The SOP is to close the account and let the customer find out after the fact. No possibility of re-opening these closed accounts even though closure was not triggered by credit risk. In most cases the former customer could open a new account. Unfortunately, credit history on the closed account is not transferred over.

It's a businness after all! The "spend nothings" need some tough love to motivate a little credit card use. 

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Yes indeed...I have had Wells Fargo do exactly that to me on 2 of their cards, over the years.  The cards had astronomical APRs and no rewards, so really no love lost there...

[Anonymous]

I have heard a lot of these stories coming from Barclays.

I asked them for a CLI from $3k to $5k the other month and they denied it.

Then one month later they randomly gave me a CLI to $7.5k.

I was very happy with it but would not be surprised if they turn around next week and say "LOL JK $1K LIMIT NOW BECAUSE RISK".

[Anonymous]

All this talk of Barclays CLD's has me nervous. They were my first true CC and only one as of yet. Have gotten 2 SLI's from them and an APR reduction and now am considering app'ing for something else to diversify and take advantage of different offers.  The card gets heavy usage and is PIF every month, should I be worried if I app for something else??

-Sin

[Kevin86475391]

Edit: Sorry, didn't mean to post in this thread at all. I was just reading on my phone and I guess I clicked something I shouldn't have.

Anyway since I feel obligated to weigh in now I'll just say that of course lenders don't AA people for no reason (short of a recession), BUT risk models certainly vary and some lenders seem a lot more likely to AA than others. I don't worry about AA since I'm fortunate enough not to be in a position in which it seems at all likely, but I agree that trust and risk aversion cuts both ways. Even though I think I'm unlikely to get AA'd by them, I'm still unlikely to apply for a Barclaycard because their negative reputation precedes them. I don't want to take the 'risk' of throwing in with them even though I probably don't have anything to worry about since I PIF, have high scores, and don't aggressively seek credit/CLIs. I just don't 'trust' them. By contrast I'm pleased an punch with Discover and Chase and would be happy to get further into bed with them. Of course hypothetically they could AA me if something changed and of course in that same hypothetical situation if I did have Barclays maybe they wouldn't, but I'm not willing to 'risk it' with Barclays.

[Anonymous]

I say it's all risk for them now since the great recession.  Be careful.  Don't do anything you know is not up to par.  I have all of my cc's & mtg, car pymts, etc. on autopay.  Even though I have the cc's set to minimum payment due, I check them every Sunday evening and pay much more.  I always try to keep all ut on 1 card low and not go past the 30%.  I did use a couple of the store cards 12 months same as cash and did max out those for chandeliers and my granddaughter's bedroom furniture.  But I never paid what the payment was for the promo.   I always paid at least twice as much. I do ask for higher cl's so that I don't go over the magic number.  I will charge quite a bit on one card if I plan on paying for it the next day.

[Anonymous]

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@myjourney wrote:

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@baller4life wrote:
Thanks MJ. That's all I'm saying. Their sensitive/risk levels are definitely different. Which is why there tends to be a higher number of AA threads from Barclays and BOA. And yes, before they chime in, I do know AA can come from all lenders lol.

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And on that note Lol

Weather they're sensitive or not the fact remains you did something to cause them to first look and secondly to act

No one and I mean no one can show me a case and be willing to truthfully answer and let me dissect it to the bear bones and say I did nothing to be AA/CLD 

It didn't happen they just didn't pick you out of names in a hat and say we have a winner the odds are the same with the lottery and you haven't won that yet either ROFLOL

What? I'm just sayin

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I know EXACTLY why AMEX took AA against me. It was a 63pt FICO drop.

What I haven't a clue about is, WHY my FICO dropped 63 pts.  Surely, there was a reason, but I haven't the foggiest what that reason is.

As for what CM (? I think) said about trust being a two-way street, I was putting a LOT thru that AMEX card, but after the AA, it went in the sock drawer, and I am afraid to use it now.

So, what benefit has AMEX gotten from this?