Barclaycard - Should I stay or should I go? - myFICO® Forums

NichelleN · ‎07-16-2016

Hey all -

I'm looking for some feedback. I recently had to step out of the garden for loan purposes. I also decided to move up my target date for cleaning house. I'm going through cards that I don't want/need and closing them. I'll get rid of a few store cards and any cards with low usage that don't offer benefits and growth potential.

That brings me to Barclays. I have a Williams-Sonoma ($1500) with an unknown future as the card is being phased out/replaced. I also have a teeny tiny Barclay Rewards MC. I've had both of these cards for 8 months. The Rewards was actually from a pre-approval mailer that I accepted. I was rewarded with a SL of $250. No doubt my high # of inquiries and new accounts didn't sit well with them at the time. 7 months in the garden has already improved my profile. So I called today for a lower APR and hopefully a SP CLI. I was offered a 1% reduction to my 25% APR and no increase. Woo!

On the other hand, since stepping out of the garden I was approved for a PenFed card ($15K SL) and the Costco Visa ($7K SL). Barclays probably won't care for that either. But I'm done and returning to the garden.

My question: Is there some amazing reason I'm missing to stay with Barclays? I've always wanted their NFL card as I am a season ticket holder and thought the card had advantages. But my relationship with Barclays doesn't seem promising at all. And I'm ready to put the cards on the chopping block.

More than enough credit.

kdm31091 · ‎07-16-2016

In my view none of their cards are standout amazing, so I'd just move on if you're unhappy with the relationship. I don't blame you.

Anonymous · ‎07-16-2016

Seems like your past the starter cards now, so unless you just love Barclays, say "Adios". You've got some great cards right now and the future is bright for you, so "Let it Go". Hope to be where you're at a year from now. Congrats on your success.

NichelleN · ‎07-16-2016

@kdm31091 wrote:
In my view none of their cards are standout amazing, so I'd just move on if you're unhappy with the relationship. I don't blame you.

Thanks for your feedback. Just wanted to make sure I wasn't missing something before closing it. You helped answer that question

More than enough credit.

NichelleN · ‎07-16-2016

@Anonymous wrote:
Seems like your past the starter cards now, so unless you just love Barclays, say "Adios". You've got some great cards right now and the future is bright for you, so "Let it Go". Hope to be where you're at a year from now. Congrats on your success.

Thanks! I still have some distance to go but things have definitely improved since May of last year when I started this process. It feels good to do some pruning.

And you seem to be doing A-okay yourself.

Goodbye Barclay's!

More than enough credit.

Anonymous · ‎07-16-2016

@NichelleN wrote:
Hey all -

I'm looking for some feedback. I recently had to step out of the garden for loan purposes. I also decided to move up my target date for cleaning house. I'm going through cards that I don't want/need and closing them. I'll get rid of a few store cards and any cards with low usage that don't offer benefits and growth potential.

That brings me to Barclays. I have a Williams-Sonoma ($1500) with an unknown future as the card is being phased out/replaced. I also have a teeny tiny Barclay Rewards MC. I've had both of these cards for 8 months. The Rewards was actually from a pre-approval mailer that I accepted. I was rewarded with a SL of $250. No doubt my high # of inquiries and new accounts didn't sit well with them at the time. 7 months in the garden has already improved my profile. So I called today for a lower APR and hopefully a SP CLI. I was offered a 1% reduction to my 25% APR and no increase. Woo!

On the other hand, since stepping out of the garden I was approved for a PenFed card ($15K SL) and the Costco Visa ($7K SL). Barclays probably won't care for that either. But I'm done and returning to the garden.

My question: Is there some amazing reason I'm missing to stay with Barclays? I've always wanted their NFL card as I am a season ticket holder and thought the card had advantages. But my relationship with Barclays doesn't seem promising at all. And I'm ready to put the cards on the chopping block.

If you're talking about that 2x points on gas, supermarkets, and utilities card, you're lucky you even received a 1% APR decrease. The rate on that card is a standard 25.24% with no range above or below that. While the rewards are okay and the design looks nice, the APR is way too high for most people's liking.

I wish more cards had bonus points for utilities purchases to offset what cheapskates those companies are (by charging a fee for credit card transactions).

Personally, I'm not a big fan of Barclay's credit card area, but part of that is my fault for running up a balance. However, they could have been nicer to me over the time I was a card member before I couldn't pay the card anymore.... Like you know, upgrading my $7,800 CL card to a Visa Signature, and offering a lower APR than 23.24%, or you know, offering a PC to the rewards version of the card I had. Finally when I couldn't pay the monthly bill anymore, they offered to lower my monthly rate down to 8% for 12 months in exchange for closing the account with a balance "by credit grantor," and after that I STILL have to pay whatever is left after the 12 months when the APR went back to normal. So in other words, there was no value for using my Barclaycard, but I was too dumb to realize it since I was 19 at the time.

Anonymous · ‎07-16-2016

I guess I have a different opinion. I started out with a lower sl with the barclay rewards card but after a year of heavy usage (and only paying half as i was in a bit of a situation at that time) they increased me to 4400 which stunned me and is my highest credit line to date. I chose to close out my barclay apple rewards card with a 1k limit but before closing it I transferred the limit to my barclay rewards so now it has a 5400 credit line which makes me a fan. Are you able to transfer the credit limit from the card you dont want to the card you do want. Would it be a card you use?

NichelleN · ‎07-16-2016

@Anonymous wrote:
@NichelleN wrote:
Hey all -

I'm looking for some feedback. I recently had to step out of the garden for loan purposes. I also decided to move up my target date for cleaning house. I'm going through cards that I don't want/need and closing them. I'll get rid of a few store cards and any cards with low usage that don't offer benefits and growth potential.

That brings me to Barclays. I have a Williams-Sonoma ($1500) with an unknown future as the card is being phased out/replaced. I also have a teeny tiny Barclay Rewards MC. I've had both of these cards for 8 months. The Rewards was actually from a pre-approval mailer that I accepted. I was rewarded with a SL of $250. No doubt my high # of inquiries and new accounts didn't sit well with them at the time. 7 months in the garden has already improved my profile. So I called today for a lower APR and hopefully a SP CLI. I was offered a 1% reduction to my 25% APR and no increase. Woo!

On the other hand, since stepping out of the garden I was approved for a PenFed card ($15K SL) and the Costco Visa ($7K SL). Barclays probably won't care for that either. But I'm done and returning to the garden.

My question: Is there some amazing reason I'm missing to stay with Barclays? I've always wanted their NFL card as I am a season ticket holder and thought the card had advantages. But my relationship with Barclays doesn't seem promising at all. And I'm ready to put the cards on the chopping block.

If you're talking about that 2x points on gas, supermarkets, and utilities card, you're lucky you even received a 1% APR decrease. The rate on that card is a standard 25.24% with no range above or below that. While the rewards are okay and the design looks nice, the APR is way too high for most people's liking.

I wish more cards had bonus points for utilities purchases to offset what cheapskates those companies are (by charging a fee for credit card transactions).

Personally, I'm not a big fan of Barclay's credit card area, but part of that is my fault for running up a balance. However, they could have been nicer to me over the time I was a card member before I couldn't pay the card anymore.... Like you know, upgrading my $7,800 CL card to a Visa Signature, and offering a lower APR than 23.24%, or you know, offering a PC to the rewards version of the card I had. Finally when I couldn't pay the monthly bill anymore, they offered to lower my monthly rate down to 8% for 12 months in exchange for closing the account with a balance "by credit grantor," and after that I STILL have to pay whatever is left after the 12 months when the APR went back to normal. So in other words, there was no value for using my Barclaycard, but I was too dumb to realize it since I was 19 at the time.

Thanks for sharing. I didn't realize the APR was a standard, set rate. I just looked at the application page and I really should have noted that when I applied. So, thanks for the info. I pay in full each month (except I somehow ended up with a $14 balance this month). But, the $250 limit is difficult to work with, particulary for utilities. I end up putting those on other cards that offer cash back.

As for me at 19, I was a fool with credit. So, I completely understand.

More than enough credit.

NichelleN · ‎07-16-2016

@Anonymous wrote:
I guess I have a different opinion. I started out with a lower sl with the barclay rewards card but after a year of heavy usage (and only paying half as i was in a bit of a situation at that time) they increased me to 4400 which stunned me and is my highest credit line to date. I chose to close out my barclay apple rewards card with a 1k limit but before closing it I transferred the limit to my barclay rewards so now it has a 5400 credit line which makes me a fan. Are you able to transfer the credit limit from the card you dont want to the card you do want. Would it be a card you use?

Transferring the limit from williams sonoma to the rewards card would definitely make the card more usable. And it would support my goal of reducing my total number of cards. I'll have to see if that is possible. Congrats on the increase you received and thank you for your input.

More than enough credit.

SouthJamaica · ‎07-16-2016

@NichelleN wrote:
Hey all -

I'm looking for some feedback. I recently had to step out of the garden for loan purposes. I also decided to move up my target date for cleaning house. I'm going through cards that I don't want/need and closing them. I'll get rid of a few store cards and any cards with low usage that don't offer benefits and growth potential.

That brings me to Barclays. I have a Williams-Sonoma ($1500) with an unknown future as the card is being phased out/replaced. I also have a teeny tiny Barclay Rewards MC. I've had both of these cards for 8 months. The Rewards was actually from a pre-approval mailer that I accepted. I was rewarded with a SL of $250. No doubt my high # of inquiries and new accounts didn't sit well with them at the time. 7 months in the garden has already improved my profile. So I called today for a lower APR and hopefully a SP CLI. I was offered a 1% reduction to my 25% APR and no increase. Woo!

On the other hand, since stepping out of the garden I was approved for a PenFed card ($15K SL) and the Costco Visa ($7K SL). Barclays probably won't care for that either. But I'm done and returning to the garden.

My question: Is there some amazing reason I'm missing to stay with Barclays? I've always wanted their NFL card as I am a season ticket holder and thought the card had advantages. But my relationship with Barclays doesn't seem promising at all. And I'm ready to put the cards on the chopping block.

I would stay with them. I like their cards, especially the Ring card which is by far my favorite credit card.

I've actually enjoyed the Rewards card, have used it plenty, especially like the 2% on groceries and utilities.

Also the Rewards card does give you auto CLI's.

So if I were you I'd try to hang in there and build your relationship with them.

They're very adverse to new accounts and inquiries, so now's not the time to ask for them anything. But I think it's worth sticking around.

(Interesting that you like the NFL card, because of my 6 Barclays cards that's the least useful one I have for my purposes Different strokes )