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Frequent Contributor
astritaho1979
Posts: 451
Registered: ‎10-02-2011
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Re: Barclay..What a joke

Thank you.Very wise response on your part.Just let me know that and i will not apply for your card Barclay! Thats all.Its just that i heard a lot of complains about barclays and decided to open this thread so we all make some better informed decisions when it comes to appling for credit


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Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
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Re: Barclay..What a joke


navigatethis12 wrote:

Of course Barclays can do whatever they want, but since so many people report this happening, couldn't they send a warning or something with the card? Something that lets the cardholder know that they watch accounts closely for a while for any new accounts. Astritaho1979 says their credit is good, but this seems to usually happen to people who got in with not so great credit. It is understandable why they would be concerned with someone with bad credit continuing to open new accounts.


Well it has open my eyes. It's so crazy that right after I got the card a lot of people have stated they closed there account. They better not mess up my credit rebuild plan!

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
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Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Barclay..What a joke


astritaho1979 wrote:

Thank you.Very wise response on your part.Just let me know that and i will not apply for your card Barclay! Thats all.Its just that i heard a lot of complains about barclays and decided to open this thread so we all make some better informed decisions when it comes to appling for credit


I'm glad you post it, it has help me understand the "what if"  factor in me trying to rebuild my credit! I have no plans to pull credit, but wanted to refinance my car loan! So we may be in the same boat in April!

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Barclay..What a joke


Unique620 wrote:

navigatethis12 wrote:

Of course Barclays can do whatever they want, but since so many people report this happening, couldn't they send a warning or something with the card? Something that lets the cardholder know that they watch accounts closely for a while for any new accounts. Astritaho1979 says their credit is good, but this seems to usually happen to people who got in with not so great credit. It is understandable why they would be concerned with someone with bad credit continuing to open new accounts.


Well it has open my eyes. It's so crazy that right after I got the card a lot of people have stated they closed there account. They better not mess up my credit rebuild plan!


That's why I started another thread, to see if we can get better numbers.  So far it's 4 for 4 of Barclays NOT closing their card after new accounts!  Obviously lots of people report it, but I think it is probably much rarer than it appears.  Please post your experience if you have/had a card:

 

http://ficoforums.myfico.com/t5/Credit-Cards/Barclays-Closing-accounts-after-new-accounts-poll/td-p/...

 

 

Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Barclay..What a joke


bs6054 wrote:

Unique620 wrote:

navigatethis12 wrote:

Of course Barclays can do whatever they want, but since so many people report this happening, couldn't they send a warning or something with the card? Something that lets the cardholder know that they watch accounts closely for a while for any new accounts. Astritaho1979 says their credit is good, but this seems to usually happen to people who got in with not so great credit. It is understandable why they would be concerned with someone with bad credit continuing to open new accounts.


Well it has open my eyes. It's so crazy that right after I got the card a lot of people have stated they closed there account. They better not mess up my credit rebuild plan!


That's why I started another thread, to see if we can get better numbers.  So far it's 4 for 4 of Barclays NOT closing their card after new accounts!  Obviously lots of people report it, but I think it is probably much rarer than it appears.  Please post your experience if you have/had a card:

 

http://ficoforums.myfico.com/t5/Credit-Cards/Barclays-Closing-accounts-after-new-accounts-poll/td-p/...

 

 


That was a good idea. It would be nice to see people respond. I will do so, but I have seen it here and on another credit forum that I can't post because we are not allowed to list other forums. I hope people post, because I thought the forums were made so we can help each other.

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Valued Contributor
Swapmeet
Posts: 1,569
Registered: ‎11-10-2012
0

Re: Barclay..What a joke

I was originally planning on opening a Barclay card. But, in light of them being so conservative and sensitive, and just closing people's accounts without notice, I have decided against it. I absolutely respect their decisions to close accounts, and I am a huge proponent of them being able to do whatever they want with their money -- I just don't want to deal with it, or worry about it.



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Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: Barclay..What a joke


astritaho1979 wrote:

I totally agree with you but the first premier is my oldest account and as you know i cant touch it because is the oldest trade line


Actually, closing it will not cause any problems for you at all. Will not hurt your AAoA in the short term, and the limit is so low your utilization will be fine.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Barclay..What a joke


Unique620 wrote:

bs6054 wrote:

Unique620 wrote:

navigatethis12 wrote:

Of course Barclays can do whatever they want, but since so many people report this happening, couldn't they send a warning or something with the card? Something that lets the cardholder know that they watch accounts closely for a while for any new accounts. Astritaho1979 says their credit is good, but this seems to usually happen to people who got in with not so great credit. It is understandable why they would be concerned with someone with bad credit continuing to open new accounts.


Well it has open my eyes. It's so crazy that right after I got the card a lot of people have stated they closed there account. They better not mess up my credit rebuild plan!


That's why I started another thread, to see if we can get better numbers.  So far it's 4 for 4 of Barclays NOT closing their card after new accounts!  Obviously lots of people report it, but I think it is probably much rarer than it appears.  Please post your experience if you have/had a card:

 

http://ficoforums.myfico.com/t5/Credit-Cards/Barclays-Closing-accounts-after-new-accounts-poll/td-p/...

 

 


That was a good idea. It would be nice to see people respond. I will do so, but I have seen it here and on another credit forum that I can't post because we are not allowed to list other forums. I hope people post, because I thought the forums were made so we can help each other.


This IS on this forum, so not a problem!    Yes, some forums don't like direct links to other forums, but if it not commercial/bad in other ways,  a little can be ok.

Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: Barclay..What a joke


navigatethis12 wrote:

Dustink wrote:

 

Although, if I were an underwriter. I would decline/close accounts just for the first premier on your report.

 

 


So if someone has thirty years of perfect payment history you would decline them just because of a lender on the report? I never had to get them but two years ago when I had no credit history I was tempted to apply for cards like that. I only decided against it because I found that it was an annual fee of $29, and I do not believe in annual fees. Anyway, everyone that has a card from that kind of lender does not always have it because of bad choices in the past. Many young people just starting out will go to the first card they can get to begin building credit.


If somebody has 30 years of history, they should not have that card on their report. Although, it may be a good indication that they are a profitable sucker.

 

Nobody should have that card on their report. A secured card is a much cheaper option. People should have the mindset to review the terms of something before they agree to it. It is a good indication that they don't pay attention to other things in life if they agree to huge fee's like that. I think in general FP on a credit report is a bad sign.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


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Established Contributor
toppers555
Posts: 551
Registered: ‎09-28-2012
0

Re: Barclay..What a joke

Well to be fair to FIrst premier, not all thier accounts have horrible terms,  Just majority are. It depends when you actually open the account before or after credit card law changes that took must banks out of the secure card game. 



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