Barclays PLC Credit Card Complaint

Credit line increase/decrease

Barclays PLC Credit card department,

Credit line increase/decrease Florida

I understand that there are no laws regarding a banks right to decrease a consumer 's credit limit but today I saw where Barclay reduced my credit limit of $3500.00 with a balance of $1900.00 to a credit limit of $2100.00. That changes this card 's utilization percentage from 56 % to 91 %. This account has been open a year, I 've never missed a payment with them or any of my other accounts in the last 3 years. My overall utilization score was about 35 % and I have no collections and no public records. This is the second company to cut my limit raising my utilization score and lowering my credit score. It 's not fair that I be penalized for using my cards, paying interest and making payments on time, especially when they did n't even consult me about it! They claimed they used information in my - report, which is only - of - reporting bureaus and has out of date information as payments and charges fluctuate on a daily basis and take time to filter through to the bureaus. Someone needs to protect consumers that pay their debts on time and still get penalized.

Barclays PLC customer in Florida
Mar 30, 2017

* Source: CFPB Complaint Database

Barclays PLC response to complaint:
Closed with explanation

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