Uber Visa Credit Line Reduction

[pipeguy]

@DaveInAz

I would have said the exact same thing 6 months ago - I actually posted on the RING forum something similar (praising Barclays/RING) then BOOM both cards reduced to $500 CL's with a perfect history with Barclays, moderate usage on both my cards and ZERO derogs of any kind on any account from any lender. Water under the dam now.....

[longtimelurker]

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@pipeguy wrote:

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I currently have too much revolving credit but this is not a new or recent issue ($400k +/-) and too many cards so its no big deal for me to close cards I don't need. I'm retired as of March 1, 2019, and moving to a place where there is much less traffic and it doesn't snow and I'm planning on closing all but maybe 6-8 cards (currently have 24) so again it's not really an issue. While I understand that this paragraph has little to do with the OP's situation or credit history, it's more to say it is YOU that should "manage" your card portfolio and be in control, not begging for acceptance from lenders. 

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I agree with the sentiment but I think we disagree with the application.    I have had my share of CLDs, but my attitude is "Is the card still net positive compared to my other cards?"   If it is, I keep it, and don't think of it as "begging for acceptance", just evaluating the continued utility, just as I do with all my cards from time to time.    Now if continuing CLDs could generate a UTIL issue and you don't want the potential stress of this happening unplanned, then yes, I can see closing.  But IMO, as long as I wouldn't be hurt if it actually closed, and it's still useful, I will keep and use.     It's not personal, so avoid emotion.  Of course, being a sociopath helps with this attitude....

ETA: but in your case, reducing the CL to $500, probably does make the net positive answer "no", so I would have also closed!

[CreditUnionFan]

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@kdm31091 wrote:

Unfortunately it's kind of common with Barclay and there are many reasons as to why it could have happened. New accounts, increased utilization,  low activity on the account, etc. In general they are risk averse and are quick to CLD/shutdown compared to some other banks.

Sometimes you can get the decision reversed by calling an analyst.

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I'd try to get the decision reversed / find out why.  Back in 2008-2009, Barclays dropped my limit several times from $7k down to $1k, and finally closed it after I paid the card off.  The B&N card had a $25 fee, so I figured good riddance anyway.  Even though there were no late payments, Barclays now considers that "negative experience", and I'm effectively blocked from any new Barclays cards.  Thankfully I get to keep the three I obtained before they changed their rules, but Barclays does seem to like to tighten the 'noose'. 

[staticvoidmain]

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@CreditUnionFan wrote:

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 Barclays now considers that "negative experience", and I'm effectively blocked from any new Barclays cards.

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Well, if they can blacklist us, we should be able to blacklist them as well. I mean, if they think this way, I would be blacklisting them!

[sjt]

I would call Barclays and find out the reason for the CLD. It could be that your balance has increased over a period of time. See if you can get it restored. If not, I would still keep the card to build your credit up.

[Anonymous]

Barclays Strikes Again...

I had to have a misplaced card replaced on account that is in excellent standing for 4+ years. I went to activate the new card and low and behold they did a CL reduction on this account. This makes no sense and beyond livid. I do not understand what the hell is going on with Barclays as i said before in the original post I have never had CL reductions on any of my Credit Cards.

[SouthJamaica]

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@Anonymous wrote:

Barclays Strikes Again...

I had to have a misplaced card replaced on account that is in excellent standing for 4+ years. I went to activate the new card and low and behold they did a CL reduction on this account. This makes no sense and beyond livid. I do not understand what the hell is going on with Barclays as i said before in the original post I have never had CL reductions on any of my Credit Cards.

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Barclays is an out of control operation.

[Gmood1]

Sorry to read this happening to you OP.
My only question is, why are you still dealing with Barclays?
Time to put Barclays in your rear view mirror!
There's absolutely no need to put yourself through the mental anguish for a garbage lender, let alone a decent one.
Way too many out there, that would love to have those swipes!

[Anonymous]

Yeah like Gmood1 said, OP I would be closing my cards with them at this point. 

Barclays is known for this garbage unfortunately, time to move elsewhere. 

Sorry that it happened but there are better lenders out there. 

[CreditUnionFan]

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@Gmood1 wrote:
Sorry to read this happening to you OP.
My only question is, why are you still dealing with Barclays?
Time to put Barclays in your rear view mirror!
There's absolutely no need to put yourself through the mental anguish for a garbage lender, let alone a decent one.
Way too many out there, that would love to have those swipes!

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I've kept my Barclays cards, but they see limited use.  For instance, I pretty much only use my Priceline Visa on Priceline purchases.  I pay the $89 annual fee on their AA card so that I keep the Stage 5 boarding. (cheaper than upgrading the seats individually)

Barclays may CLD, but if the account is still open, it's still reporting "pays as agreed", and boosting the AAoA as the account gets older.  I rely on other issuers for higher limits.