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Report: #1184584

Complaint Review: Barclaycard Mastercard - Nationwide

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  • Reported By: Karen — Arlington Texas
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  • Barclaycard Mastercard Nationwide USA

Barclaycard Mastercard issued credit, lowered credit, good credit Nationwide

*General Comment: Really??

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To summarize, I have pretty good credit and was issued a card with a 3K limit last fall.  Twice in the last six months, despite never coming even close to maxing my limit, excellent payment history, ever increasing credit scores, early and on time payments and paying more than the minimum, they have chosen to reduce my credit limit.  I have not been successful in getting a reason why.  Here is today's exchange following the most recent discovery that my limit had been yet again lowered:

10/23/14 am:
My initial message:
I just received notice today that for the second time in the last several months, you have decreased my credit line. WHY??? My credit scores are higher now than when you issued my card and you were quite comfortable at THAT time with the limit you issued me. I have never gone over my limit; I have never been late on a payment, and I have almost always paid more than the minimum payment each month. So again, I ask you....WHY? I am most unhappy with your company because this seems to be extremely arbitrary as you have not given me any explanation either time. I am sorely tempted to pay off the balance and close the card completely because apparently you do not value me as a customer, so I don't really feel warm fuzzies toward you at the moment. Please explain these actions and give me a REAL reason, not some canned generic response, please. Thank you.
=========================================================
10/23/14 am:
Their initial canned reply:
Thank you for contacting us regarding your Barclaycard Rewards MasterCard. We can certainly address your concern regarding the credit line on your account.

We have decided to reduce the amount of credit available to you. A letter detailing the reason for our decision was mailed on October 17, 2014 and you should receive it within 7 - 10 business days. Should you wish to receive a duplicate copy of the letter, please respond to this message. For further assistance in regard to your concern, please contact us anytime at 1-866-928-8598. We apologize for any inconvenience this may cause.

If you have any other questions and concerns, please reply to this message.

Sincerely,

Customer Service
===============================================================
10/23/14 pm:
Me second, more angry reply:
You have merely provided another canned generic message and I have no doubt the written one will contain the same generic non-information as to why you keep reducing my limits. The end result of your actions is that my debt to ratio goes up because of your decreases in my limits, and this is through no fault of mine. You are actually DAMAGING my credit for your own purposes. I am being punished when I have been nothing less than an excellent customer. My credit score is even higher (by a lot) than when you first issued this card and yet you treat me as though I'm a bad risk. I just purchased a home and had no issues with my loan or the rate (3.75) I received and the mortgage company didn't seem to see me as a poor risk, in fact they were glad to have my business. As a result of this purchase my credit score will go up even higher, but for whatever reason, your company does not place value on that or my perfect payment history. As soon as possible I will be paying this account off and closing it as I do not wish to do business with a company who places so little value on good customers OR good credit and considering you are charging 23% interest for the privelege of using your card, you are also arrogant, to say the least. I've seen this happen once before to an account of mine, and shortly thereafter the company declared bankruptcy so I'm wondering at this point if you are taking these actions against a class of customers to make your numbers look better because of financial difficulties. It will be interesting to see what goes down over the next few months I think. Meanwhile, I won't be shopping with your card any more and as I said will be paying it off very shortly so you won't be making any more money off of me while simultaneously insulting me and damaging my rating.
===================================================================
10/23/14 pm:
their second canned reply:  
Thank you for contacting us regarding your Barclaycard Rewards MasterCard. We can certainly address your concern regarding the credit line on your account.

We apologize for the inconvenience this may cause you. Please wait for the letter of explanation regarding your credit line to be decreased. Please be advised that it may take 7-10 business days to receive the letter. We apologize for any frustration this may cause you. Sending us a secure message is an appropriate way to close your account.

If you have any other questions and concerns, please reply to this message.

Sincerely,

Customer Care
=======================================================================

Summary:  Although I have zero expectations that this magic letter which will show up sometime in the next 7-10 business days will contain any additional information other than what they have already "not" provided, it appears I have no choice but to wait and see what they have to say in the way of an explanation.  Meanwhile I have filed reports with the BBB, CreditKarma, and now Ripoff Report. I also feel I have no choice but to cancel the card, because the last time this happened (with Dell Credit), they cancelled my card outright without warning, also despite a perfect payment history and less than 10% utlization.  That resulted in a derogatory mark on my credit report as "account closed by creditor" when I had a perfect payment history! Therefore I intend to strike first, so that at least it will show up as "closed at the request of the grantee."  Comments are welcome.

This report was posted on Ripoff Report on 10/23/2014 02:35 PM and is a permanent record located here: https://www.ripoffreport.com/reports/barclaycard-mastercard/nationwide/barclaycard-mastercard-issued-credit-lowered-credit-good-credit-nationwide-1184584. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 General Comment

Really??

AUTHOR: Tyg - ()

POSTED: Thursday, October 23, 2014

 Its a credit card company. IF they chose to give YOU a lower limit then its probably something YOU have done. YOU state YOU just purchased a house. THAT can affect your limit. Im not saying that is the case but its a factor that MUST be considered. Otherwise, why are you whining online about it? Its THIER card, IF they have chosen to give you a lower CREDIT LIMIT then THAT IS THIER RIGHT!!!! YOU don't get to dictate how much credit THEY give you. Heres a NOVEL THOUGHT......Try living within your means and just STOP using those credit cards, its going to save your rump in the future. NOW you live clearly beyond your means...the future is uncertain. IF you rely on credit cards too much, whats going to happen to your life if say your house or car gets repoed?? Heck all it would take is 6 SOFT credit inquires and your credit can be ruined. So MAYBE be happy with what you DO have instead of whining that you cant spend more money then you actual have. We get it, you pay your bills ontime and you pay MORE then the minimum. SO what YOU are saying is that YOU feel its unfair of them to drop how much of THIER money YOU are allowed to spend at any one time. Its THIER MONEY!!!!! ITS THIER CARD!!!! ITS THIER CHOICE!!!!! Be happy you have good credit, that YOU had the opportunity to build good credit. Most people don't get that option. Them dropping the limit of how much of THIER money YOU get to spend IS NOT a rip off. Just a self entitled princess getting all dramatic over NOTHING!!! YOU can deny it all you like, but if perhaps YOU took a few mins and actually used that brain of yours, you would see that is all your complaint is. WAAAAA! WAAAAAA!!! THEY WONT LET ME SPEND WHAT I FEEL I SHOULD!!! See what I mean?? A bit spoiled and self entitled to THINK you get ANY SAY in spending someone elses money.

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