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Barclays As Your Only Card In Your Wallet...

Frequent Contributor

Re: Barclays As Your Only Card In Your Wallet...

I think the real lesson to take away from this is to not charge up against your credit limit, or at least if you do, make sure you have a backup source of payment in case something happens. Even if it wasn't a hold, it could have been a random bank error that was really nobody's fault, but the end result would have been the same. If the card isn't maxed out though, then there still should be available credit to cover charges until the hold is removed from the payment, or an error is resolved, or whatever.

 

The payment hold isn't an issue unique to Barclays either. A lot of other credit card companies will put a hold on a payment if the card is right near the limit. Pushing the payment from your bank account might help. Paying smaller amounts more often so that you're not right up at the limit should definitely help.

Scores:
07/29/12: EX FICO (Amex) 684 | EQ MyFICO 631 | TU Walmart 695
Current: EX FICO (MyFICO) 733 | EQ (MyFICO) 683 | TU (Walmart) 745

First Goal: 700+ across the board - Got it on EX & TU!!!
Message 11 of 14
Valued Contributor

Re: Barclays As Your Only Card In Your Wallet...


Autumnslight wrote:

I think the real lesson to take away from this is to not charge up against your credit limit, or at least if you do, make sure you have a backup source of payment in case something happens. Even if it wasn't a hold, it could have been a random bank error that was really nobody's fault, but the end result would have been the same. If the card isn't maxed out though, then there still should be available credit to cover charges until the hold is removed from the payment, or an error is resolved, or whatever.

 

The payment hold isn't an issue unique to Barclays either. A lot of other credit card companies will put a hold on a payment if the card is right near the limit. Pushing the payment from your bank account might help. Paying smaller amounts more often so that you're not right up at the limit should definitely help.


^^ this...  if you max our your cards, and then try to live off the payments you make to them (make a payment and then charge it back to the limit)  they will hold your paymetns to make sure they don't get burnt... 

 

after you had this card a couple of year they might not do that, but the CC companies are going to protect themselves and you can't blame them for that.

 

 

I keep seeing posts where people are doing this and then getting upset when they don't have access to their money.  point is if you only have so much money in your bank account then don't pay it all to the point where you will be broke on one credit card that is maxed out, it's just not smart

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Message 12 of 14
Established Contributor

Re: Barclays As Your Only Card In Your Wallet...

I keep seeing posts where people are doing this and then getting upset when they don't have access to their money.

I'm pretty sure most of the posts you keep seeing are from the OP. He posts a new thread every few days about this ongoing saga.  Smiley Tongue

 

All I can say is, +1 Autumnslight who has succinctly rehashed all the good advice given in OP's prior threads.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
My Wallet: Amex BCP $30k, Chase United Explorer $16k, Amex SPG $13.5k, Barclaycard Ring MC $12.5k, Chase CSP VS $12.2k, Discover it $10.5k, C1 Venture VS $6.5k, Chase Slate $3.5k, Amex Hilton Surpass $2k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Citi BestBuy $500
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Message 13 of 14
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Established Contributor

Re: Barclays As Your Only Card In Your Wallet...


laboi_22 wrote:

I agree. After never really having them personally. I think they are much hyped. Discover, Chase, AMEX all beats them everytime!


OT, but laboi_22, how is your BofA card treating you? How is BofA treating you? I just got approved for it with a $10k, haven't received it yet, but anxious to know if the posts I've read about BofA CCs are true. 

Amex Platinum Amex PRG Amex Hilton Surpass ($7k) Citi AAdvantage WEMC ($20k) Citi Hilton Honors VS ($6.8k) Dillard's Amex ($7.5k) Discover it ($6.5k) FNBO Chrysler MC ($30k) Military Star Card ($4.8k) Nordstrom VS ($25k) PenFed Power Cash Rewards VS ($20.5k) Ritz-Carlton VI ($54.5k) Starwood Preferred Guest Amex ($10k) Susan G. Komen WMC ($38k) Kinetic CU Visa ($10k) US Bank Cash + VS ($16k) Sears MC ($6k) USAA Limitless VS ($15k) Walmart MC ($7.5k) AAdvantage Aviator Silver WEMC ($11.3k)
Message 14 of 14