You've got to be kidding me - another Barclays CLD

[DeeBee78]

Here we are again, 9 months since my last CLD. My statement cut today, and I went online to review it, and they CLD'd me to $3,300. Card has been paid in full since October of last year, when I paid the deferred interest balance off 6 months before it was due. 

Data points: Currently have a $386 balance on my QS, which gets PIF monthly. I have two car loans, but no mortgage or rent payment, and the income to support both loans. No personal loans, no late payments. TU is 712 right now, with one $157 medical collection from 2011. I'm stumped as to what spooked them. 

The last time they CLD'd me, the reason given was I paid off my balances too quickly. Can't wait to see the idiotic reason this time... One more statement generation, and I can close the account with two full years of history. Barclays was there for me when I was rebuilding, and I love Apple products, but it's not worth the stress and I've outgrown them. 

Give me strength to not reach through the phone and strangle some poor CSR! 

[Anonymous]

Barclays = Big Brother.  Nobody listens to advice until they get screwed.  Barclays must not have any friends in Congress to bail them out.

[Anonymous]

I've said this before but it blows my mind why anyone does business with Barclays and Synchrony.

[Anonymous]

Sorry Dee! 

I echo your sentiment.....Barclays was the first to take a chance on me 6-26-16, and I am so grateful! They were my first revolving line after BK. 

BUT......I am literally counting the days to the 1 year anniversary. There is no doubt, I am closing them. 

I have plans they do not fit into.........especially long term. 

[B335is]

Ugh that's awful but unfortunately typical of Barclays. They burned me when I took advantage of a BT offer last year.

[austinguy907]

First CLD was the knock on the door.  They were posting an eviction notice.

Second CLD.... they got the Foreclosure order signed by the court.

If there's a 3rd time then you just didn't learn from the first 2 times.

With all of the posts on here about them it's apparent there's some issues over there with pruning the portfolio for some reason.  CLDs in general with them aren't new by any means as they've been AA happy for many years for no real reason usually.  Just cut your losses, pay it off, wait 30 days, and close the d@mned thing already!

[jasonkm1]

They actually said they CLD you because you paid off your balances too quickly?!?!  What's the reasoning behind that? I don't get it. Did you ask them what's wrong with paying off balances quickly? 

[Chris679]

What's wrong is they don't make as much money off interest if you pay off quickly. I think the credit card landscape is changing. Government ties their hands a bit and took away some revenue streams. Swipe fees keep going up but now merchants are fighting back a bit more on that I think. I think Barclays are just more up front about not caring about customers that aren't making them money.

[Anonymous]

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@Chris679 wrote:
What's wrong is they don't make as much money off interest if you pay off quickly. I think the credit card landscape is changing. Government ties their hands a bit and took away some revenue streams. Swipe fees keep going up but now merchants are fighting back a bit more on that I think. I think Barclays are just more up front about not caring about customers that aren't making them money.

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At this point I don't see it like this.  The business landscape of any industry is always changing but there is more than enough data to support this is a Barclay's thing to themselves alone.  No other banks are even close to the actions of Barclay's.

Typically when a consumer complains about a bank you listen to them and hear the entire story and often in the end you can find fault on the consumer side and not the bank.  There are more than just a handful of incidents with Barclay's that are not at fault of the consumer.

To note:  I have not ever had any credit products with Barclay's so I'm not swayed one way or the other from my own experiences or bias.

[AverageJoesCredit]

Sorry Op. This has to be one of the worse lessons to learn. I dont csre if banks make money off you using their cards but if you tell me i pay off my balance too quickly, ill paraphrase our good friend Irish and tell them to "POUND SAND!!!". Balances sometimes cant be avoided but one thing that we can control , more or less, is if we pay said balance off as fast as possible.
Mind boggling to say the least Sir Barclays. Thankfully i cant get any of their products but i think i would keep them on my not top ten list for 2017, FSPY style

12V, fortunately or unfortunately, there are those of us that do have to work with a Barclays or a Synchrony becsuse not all of us qualify for a Chase or an Amex, Discover, or other big Prime lenders. Sure Synchrony is off their gord on many days but they can also be good in helping one obtain their credit goals as such. One day ,probably in 2 years, ill see if Chase has any love gor me and ill expand my profile and let go of some of my Sync accounts, but til then, gotta go, CS is a calling