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@DaveInAZ wrote:
@Anonymous wrote:
@Anonymous wrote:
In the minority, I imagine..But I have had only good news with them!
1st card...now at 7900$..
now have ring with a 5000 sl..
not one issue...2 years now.You have heard ONLY good news. Really?
OP, I had the Ring and Cashforward. I closed them because I was sick and tired of checking my accounts 3 times a day.
Whenever I saw that the wind was blowing weird, I would check my accounts. It's a known fact that Barclays sometimes decrease CL's and closes accounts if they don't like which way the wind is blowing.
I believe Julie wrote that she had only HAD good news with them,
I'm another in Julie's 'minority' - I've been with Barclays since 2012 and have only had positive experiences with them - generous auto CLIs with good usage, approvals for other Barclays cards, etc. But being a regular on MyFico I've certainly read bad things about Barclays - but never for wind direction, instead for things like too many new accounts, large decrease in credit score or large increase in utilization, things which are easy and prudent to avoid. And they've never had a problem with me paying off 0% BTs too quickly, I milk those suckers for every last day.
Congrats on you Cashforward approval, Happyman. Just don't go crazy on an app spree and you'll be fine. I got my Cashforward last August, instead of any problems I got a $2k auto CLI earlier this year.
You are correct, Julie did write what you said. I corrected my post. Thanks.
Yeah, they do some CLDs and closures...
But keep in mind the source of the reports. People with 750 FICOs and 2 new accounts shouldn't be that concerned about reports that are mostly from people with sub-700 FICOs and 20 new accounts.
Yes. I'm also joining may peeps who have recently experienced AA from Barclays.
My CLD ocurred this week in which I half expected it due to low usage and always PIF.
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 828| TU: 805 | EX: 814
No issues with closures or CLD here. I too am aware of some of the stories so I am keeping an eye on my account following my app spree in late March. So far, so good. But if they do take AA on my account I have no problems closing it completely and moving on. Don't see them in my long term plans.
Add me to the list of folks that has had no issues with Barclay's, just this week got CRI's on my RING to $15k and CashForward to $11k. I have a lot of accounts over all, have no problem about inquiries (I have a lot but it doesn't seem to keep me from getting new accounts or CLI's) and I tend to open accounts at least two ot 3 times per year to take advantage of cash-spend promos and 0% intro promos. I don't "churn" but I do make money off of cash-spend offers on a regular basis. Barcaly's ... no issues, but my eggs are never in a single basket so no worries as other than ego, I don't care if any lender closes an account (only happened once with a Comenity card - total rewards - with a perfect 21 month payment record)
Hey Op, I'll throw in with the "Never Had A Problem with Barclay Crowd" ...some data points & notes below.
I've done bt's paid them off within 30 days, I've done bt's and have carried them for a while, actually carrying one right now.
3/29/2016 - Arrival+ $5,000 SL after instant denial online and calling recon
4/10/16 - SP CLI to $10,000 SL before i had even received the card
5/3/16-5/10/16 - HUGE APP SPREE ...I think it was like 10 new accounts?
Sept 2016 - SP CLI to $13,000
Oct 2016 - HP CLI to $20,000
Between May 2016 and Dec 2016 I opened 20 or so accounts and close a few too.
Just recently (5/19/17) app'd for the AAdvantage Red Card and was instantly approved for $8,000 SL. Spent well over an hour today on the phone with a credit analyst, initially trying to recon SL to $10k and then picking her brain and going through my report line by line (no joke, I called at 2:30 and was on the phone until just after 4pm)
1.) Balance(s) are not a big issue if your history of paying down/off your Barclay Account and other Credit Lines is great. If you're usually a PIF every month (Transactor) and suddenly you've got 4 or 5 accounts with high utilzation this will probably get their attention. If those accounts are "Maxxed Out" say over 70% utilized then that could trigger a CLD becaue they are more conservative and might limit their exposure by reducing your credit line with them.
2.) They don't want to be the FIRST to risk lending you large credit line(s) . I'm at the max with them that their system will allow @ $28,000 TCL because my highest "Single Line" is CapOne at $26,250. Internally they look at your cards as a single credit line, externally they look only at the individual trade lines. It's wonky, was told straight up that if I had a single revolving line with a $30,000 limit, my AAdvantage Red Card would have been a $10,000 SL that was the only reason that she could not increase it, this is after another SP on TU and seeing the new Costco Visa I had opened on 5/16/17 btw so another new account was a non-factor.