Are Barclaycard at it again with their limits??

WillPS

Any previous issues with Barclays which might've been missed at application but discovered later?

I very much doubt you'll fully get to the bottom of why this has happened, just one to take on the chin I suspect.

Marchitiello

annabanana82 said:

Barclaycard reduced my limit during covid, then a few weeks back wrote to me to say they were closing my card. If I wanted to keep it then to use it between then and June and it would remain open. 

I'd been thinking about closing it for awhile as I never use it and would prefer my second card to be with rewards

Are you aware that you can swap to a different Barclaycard product without having to close the current card account and apply for a new one ? This is useful if the account history is of value and/or the limit is good.

Barclaycard Reward offers 0.25% cashback but it is also a great travel card thanks to 0 forex fees. If you are invested in Avios, the two Avios cards can be excellent rewards cards too. 

Alex9384

Speaking of BC limits, mine was reduced from 8200 to 7250 a year ago and I can't get any increase since then.

I think BC says I need to wait 6 months before trying an increase again. But does this mean I need to wait 6 months every time I try and get declined? For example, if I try on the 1 Jan and get declined, then I won't be eligible for an increase until 1 July, no matter what?

Does that mean if I tried to increase the limit every single month and got declined, then I would actually never be eligible for any increase because I didn't wait for 6 months ? I even asked their CS about this, but I think they didn't understand my question. The only thing they did was that they navigated me to how to try a limit increase in the menu...

MrFrugalFever

So after some discussion with them, they tell me that ‘a CRA’ has reported 2 consecutive missed payments with ‘another lender’ which has led to their decision to decrease the limit and they will review again in 4-6 months time if anything has changed. They said I’d need to take it up with the CRA to identify what it is and challenge it if I believe it is wrong.

The only things I have on my record is 3 closed accounts which were defaulted back in 2017 and are due to drop off in 4 months time, these have been evident from word go. There has been no ‘missed payments’ with any credit facility since September 2017 as when I entered the IVA the IP distributed payments to each creditor which has been recorded as paid correctly, when settled in full in October 2021 the accounts went to ‘satisfied’ or ‘settled’ and all balances zeroed.

I shall request a limit increase in 6 months when none of the above will be evident at all.

MrFrugalFever

Alex9384 said:

Speaking of BC limits, mine was reduced from 8200 to 7250 a year ago and I can't get any increase since then.

I think BC says I need to wait 6 months before trying an increase again. But does this mean I need to wait 6 months every time I try and get declined? For example, if I try on the 1 Jan and get declined, then I won't be eligible for an increase until 1 July, no matter what?

Does that mean if I tried to increase the limit every single month and got declined, then I would actually never be eligible for any increase because I didn't wait for 6 months ? I even asked their CS about this, but I think they didn't understand my question. The only thing they did was that they navigated me to how to try a limit increase in the menu...

My understanding is that a) they obtain monthly or at least 6 monthly data from CRA’s to form their basis of limits on and b) if you request a limit increase as opposed to them instigating it, you would need to wait 6 months before requesting again if declined.

A bit like a full credit card application.

Alex9384

MrFrugalFever said:

My understanding is that a) they obtain monthly or at least 6 monthly data from CRA’s to form their basis of limits on and b) if you request a limit increase as opposed to them instigating it, you would need to wait 6 months before requesting again if declined.

A bit like a full credit card application.

So hypothetically, if I tried the increase on 1 Jan and got declined, I need to wait till 1 Jun, and there's no way to get the increase any earlier. But maybe if I didn't try on 1 Jan, maybe I could get it let's say on 1 Apr. Just because I did try on 1 Jan, that thwarted any possibility to get it earlier than 1 Jun. I'm wondering if it works like this. It would be a bit stupid, but who knows.

cymruchris

Alex9384 said:

MrFrugalFever said:

My understanding is that a) they obtain monthly or at least 6 monthly data from CRA’s to form their basis of limits on and b) if you request a limit increase as opposed to them instigating it, you would need to wait 6 months before requesting again if declined.

A bit like a full credit card application.

So hypothetically, if I tried the increase on 1 Jan and got declined, I need to wait till 1 Jun, and there's no way to get the increase any earlier. But maybe if I didn't try on 1 Jan, maybe I could get it let's say on 1 Apr. Just because I did try on 1 Jan, that thwarted any possibility to get it earlier than 1 Jun. I'm wondering if it works like this. It would be a bit stupid, but who knows.

There's no fixed timescale between requests - you just go to your app and go to manage credit limit. At that point it'll tell you whether you're eligible to ask for an increase, and on asking it'll say yes or no. It sometimes says you're not eligible before even asking - but there's no rhyme or reason as to when you can and can't ask. Mine fluctuates as to what options I'm offered regularly with no fixed pattern.