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

[Discover2016]

I love flying Jetblue and boy was I annoyed when they decided to go from Amex to Barclays, a bank that I have blacklisted

[fltireguy]

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

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12V - Exactly my feelings as well. I used to have a Barclays card. And a few from Sync. I don't anymore. And, I promise one thing, I'll never look back - I don't need them at all!

[Anonymous]

What a damned joke. I've been following these threads for months but closed my BARCLAY Apple a year ago. Thank god I beat them to it lol.

Honestly, you have your people here will say that "all companies can AA you blah blah" which while true, is nowhere near the amount of AA taken by this shady company. If they can't afford to take SOME risk, they should close their doors and call it a day. Their risk algorithms or risk team members are so overzealous it is comical. Don't sneeze while on the BARCLAY website - you might end up with a 50% CLD! It's that absurd. A 712 FICO And OP stats do not lend to a CLD. CLI yes. Not a CLD.

OP burn the card and sing while doing it. Maybe if all of us at MyFico boycott this crap company, they will actually close down since we probably represent 50% of their customer base. Lol! If only. Move on OP - bigger fish to fry

[AverageJoesCredit]

Dont forget the chips, Joey

[longtimelurker]

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@Anonymous wrote:


OP burn the card and sing while doing it. Maybe if all of us at MyFico boycott this crap company, they will actually close down since we probably represent 50% of their customer base. Lol! If only. Move on OP - bigger fish to fry

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At the end of 2014, Barclays US had 16M+ cards in circulation.  Hopefully MyFico has a little less than 50% of those!

[Anonymous]

I have to agree with Averagejoescredit some of us have no choice but to deal with Barclays. I just hope I never get the letter saying they are lowering my limits till I have other options, are you listening Discover? But the moment I have other options I will not think twice to tell Barclays to stick it where the Sun doesn't shine!

[Anonymous]

Gambling all your customers are going to pay back all of a carried balance of 27%… not the position Id want to have. They are not a United States Bank they don't get bailed out the same or have the same incentives I guess. My take on it is they are smarter than most of us care to admit. a lot of us have cashed in on a balance transfer Shuffle… moving old card $$ to Barclays , apply for something else, score a longer intro rate with a bonus, and move it there… Rinse repeat. if they are doing soft pulls they see that the money is bouncing around over the course of a few months as its whittled down. Id be a pissed-off girlfriend too.

[NRB525]

Sorry to hear OP, but thanks for sharing your experience.

If I read your siggy correctly, the Barclays card was at $3,800 and now it is at $3,300 and you have not had any balance or activity for several months? I guess I would interpret this less as a negative and more as Barclay in their continuing management of credit limits. I know the general expectation among MyFICOers is that credit limits should only go up, but if the credit limit is not being used, then there's really nothing wrong with the credit limit going down. It's just another directional change in the credit limit, really.

That said, I won't get a Barclays card.

Still, there are plenty of folks here who use their Barclays cards and seem to have good results. It's only when you don't use Barclays as your main swipe card that they get jelly and pull back their credit offerings.

[longtimelurker]

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@Anonymous wrote:
Gambling all your customers are going to pay back all of a carried balance of 27%… not the position Id want to have. They are not a United States Bank they don't get bailed out the same or have the same incentives I guess. My take on it is they are smarter than most of us care to admit. a lot of us have cashed in on a balance transfer Shuffle… moving old card $$ to Barclays , apply for something else, score a longer intro rate with a bonus, and move it there… Rinse repeat. if they are doing soft pulls they see that the money is bouncing around over the course of a few months as its whittled down. Id be a pissed-off girlfriend too.

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As mentioned in other threads, they are leading the way in firing low-profit investment customers (and others are following their lead).   It wouldn't surprise me to see other cc issuers get more aggressive too.    Things like 5/24, once in a lifetime bonus etc, help cut down on "excessive" rewards, but the next step really is:

                      This guy with 20 credit cards and hardly any spend on mine, is there any point in reserving such a big a line of credit for him/her?

So not just risk but also opportunity costs, will this line of credit be better used by someone else.    As a whole, I think the MyFico community are what banks don't particularly value.   Lets see if these things spread....

[wasCB14]

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@longtimelurker wrote:

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@Anonymous wrote:


OP burn the card and sing while doing it. Maybe if all of us at MyFico boycott this crap company, they will actually close down since we probably represent 50% of their customer base. Lol! If only. Move on OP - bigger fish to fry

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At the end of 2014, Barclays US had 16M+ cards in circulation.  Hopefully MyFico has a little less than 50% of those!

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Plus, Barclaycard products on MF are disproportionately highly unprofitable Sallie Maes and short-lived Arrival+ and Aviator cards.

I can see how their actions upset people, but that doesn't mean those actions are irrational. I don't see a lot of complaints from customers who use the cards a lot and are low-risk...the clearly profitable customers.