Barclay's changing of terms and conditions is bringing dark days.

[Anonymous]

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@onstar wrote:

We're no longer discussing the Barclay aspect. We're just discussing the various 3rd parties and how they operate. 

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Sure we are discussing the Barclay aspect. We are not happy that as part of its terms and conditions. Barclay wants to access private information from a 3rd party. It's certianly fine to reference other examples of that happening while we are talking about Barclay doing it. The point is, we don't like Barclay doing it - as part of thir change in terms and conditions.

[Anonymous]

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@Anonymous wrote:

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@onstar wrote:

We're no longer discussing the Barclay aspect. We're just discussing the various 3rd parties and how they operate. 

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Sure we are discussing the Barclay aspect. We are not happy that as part of its terms and conditions. Barclay wants to access private information from a 3rd party. It's certianly fine to reference other examples of that happening while we are talking about Barclay doing it. The point is, we don't like Barclay doing it - as part of thir change in terms and conditions.

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Now that we're back on topic. I don't mind it as it doesn't affect me.

[Imperfectfuture]

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@Anonymous wrote:

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@Anonymous wrote:

In addition, another change (this one also taking place in September) they mentioned was that from time to time, they would start collecting or requesting employment and income data from third parties in order for Barclay's to continue administration of my account. I wonder why they started collecting income and employment through third parties, could it be that they feel that people may not be so forthcoming about their finances, so they have to check, collect and verify this information with other parties? 

FYI

Income and employment verifications from Equifax are sourced from The Work Number®—the nation's largest database of instantly available income and employment information from more than 4,300 employers nationwide. An income and employment verification contains both basic employment information as well as detailed compensation data—wages, bonuses, commissions and overtime. If provided by the employer, the verification will also include historical payment data, and dates and amounts of the applicant's most recent and projected pay increases.

If your applicant's income and employment data is not instantly available, a researched verification can be immediately initiated, whereby a team of Equifax verification specialists will manually complete the verification on your behalf in as little as one to three business days.

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Must be why I didn't get a letter?  Maybe call them?

[2b2rich]

So many questions here come to mind, like what if you're self employeed? Won't they have to accept tax returns?

Myself, I always provide accurate income.  The only thing that might not be accurate is that I'm a disabled vet instead of retired, but if they have a problem with that, then they (along with many others) need to revamp their online credit apps to include it because VA Compensation is NOT one of the selections for where your income comes from.

I doubt I have anything to worry about with Barclays, I had to contact their fraud team when I applied and had to send verification letters from the VA & SSDI.

So the bottom line is basically, if you're paying more than the minimum each month, and provided accurate income figures when applying, then there should be no problem with this, or am I missing something?

What about people changing jobs or sales reps hit with a bad economy period that reduces something like comission about the time they pull a verification?  It doesn't mean they weren't honest at the time of application or CLI request.

If a person changes companies or positions that lowers their income (hey, it happens), are they suppose to contact Barclay and state "hey, my income was just reduced by $5-10K  a year" ?  While most banks would probably want you to, I'm not sure you're actually required to.

It's unfortunate that there are many who burn these banks, and they have to take this sort of measure to protect themselves because our credit card statements are about all they know us by.

[Anonymous]

Great points 2b2. Also thinking of couples who changed jobs or couples who each work 2 jobs. Barclay would really want income info from all 4 jobs, and even from the spouse who had nothing to do with the account? Personally, my husband would be pretty mad if Barclay asked him for POI. because he is not on my account and has not relationship with Barclay. It's one thing to ask of the account holder; quite another t ask of someone who has not relationship with the lender.

I can't imagine what people who have other sources of income like alimony and child support, small business, and disability do in addition. Just lots of things that would not be covered easily in a simple request, and don't all report in the same place.

I once knew a colleague in graduate school who started working 3 jobs after he graduated, and his wife had 2 jobs. That gets really messy.....

[Anonymous]

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@Anonymous wrote:

Great points 2b2. Also thinking of couples who changed jobs or couples who each work 2 jobs. Barclay would really want income info from all 4 jobs, and even from the spouse who had nothing to do with the account? Personally, my husband would be pretty mad if Barclay asked him for POI. because he is not on my account and has not relationship with Barclay. It's one thing to ask of the account holder; quite another t ask of someone who has not relationship with the lender.

I can't imagine what people who have other sources of income like alimony and child support, small business, and disability do in addition. Just lots of things that would not be covered easily in a simple request, and don't all report in the same place.

I once knew a colleague in graduate school who started working 3 jobs after he graduated, and his wife had 2 jobs. That gets really messy.....

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You are really making much too much out of this. Just relax and see what happens. It probably will only trigger when applying for a new card or a CLI.

[Imperfectfuture]

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@2b2rich wrote:

So many questions here come to mind, like what if you're self employeed? Won't they have to accept tax returns?

Myself, I always provide accurate income.  The only thing that might not be accurate is that I'm a disabled vet instead of retired, but if they have a problem with that, then they (along with many others) need to revamp their online credit apps to include it because VA Compensation is NOT one of the selections for where your income comes from.

I doubt I have anything to worry about with Barclays, I had to contact their fraud team when I applied and had to send verification letters from the VA & SSDI.

So the bottom line is basically, if you're paying more than the minimum each month, and provided accurate income figures when applying, then there should be no problem with this, or am I missing something?

What about people changing jobs or sales reps hit with a bad economy period that reduces something like comission about the time they pull a verification?  It doesn't mean they weren't honest at the time of application or CLI request.

If a person changes companies or positions that lowers their income (hey, it happens), are they suppose to contact Barclay and state "hey, my income was just reduced by $5-10K  a year" ?  While most banks would probably want you to, I'm not sure you're actually required to.

It's unfortunate that there are many who burn these banks, and they have to take this sort of measure to protect themselves because our credit card statements are about all they know us by.

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I am also early retirement wth investments and self employment.  Haven't received my upgraded card yet, but no letter.  However, my spending comes close to what I claimed (and I make nice chunks of payment each month).  Did you get a letter?  Wonder if those of us that put retirement do not get the letter.

[gdale6]

I think this thread has run its course and the OPs post has been sufficiently vetted therefore further discussion is now closed.

[Anonymous]

Hey everyone, I wanted to talk further about letters going around to Barclay's member about income/employment data. Upon reading previous posts, it seems I am not alone when it comes to having received a letter that state Barclay's will start collecting employment and income verification from third parties starting this September. This kind of concerns me, I used to like Barclay's a lot, and they are very easy-going compared to other card issuers. However upon reading that letter, I am pretty sure that something adverse is coming like CLD's or something. All this verification through third parties is like "Big Brother" to me, I mean it seems like these banks and card issuers are really clamping down these days. Any thoughts on what could happen when Barclay's starts verifying this stuff later on?

[kdm31091]

You should have nothing to worry about if you are being honest on your applications.