I have Barclays MC for almost 1 month.
Was approved for Merrick card same day as Barclays.Since this is my only reward card , I run everything throgh it. And what a great feeling to get paid just for using their card! So far I got $40 in rewards ! Love Barclays so far for giving me chance after my BK in Oct 2011.
I have a Barclays NFL Visa Platinum that was opened October 2, 2012. My two most recent reported accounts were a Blue Cash Everday (opened in July) and a student loan (opened in October). After using it just enough to cash out the sign-up bonus, I sock-drawered it and opened a Chase Sapphire Preferred and a US Bank Cash Rewards late November. After these cards reported, Barclays soft pulled Experian midway through December. Now Barclays is offering me a pretty decent balance transfer offer.
I believe the card was originally approved with a $1,500 tradeline, but I reconned it up to $4,500 on the same day. The underwriter I spoke to did cite my recent inquiries and accounts as being an issue (and probably one of the reasons that I wasn't approved for the $5k signature card), but I've opened two new accounts since then and they've rewarded me with the aforementioned transfer offer. I'll report back next month after I apply for the transfer.
Just trying to get some numbers here as there seems to be a lot of disagreement! So, please respond if you have ever held a credit card issued by Barclays (US ones).
1) Is the card still open? If so
a) How long have you had it
b) Do you open other accounts after getting the card? If so, how many and how soon.
a) Who closed it? If Barclays did they give reasons? Do you open other accounts after getting the card? If so, how many and how soon.
Card 1: Us Air, closed by me after 18 months. 2 cards opened between opening and closing, no comment from Barclays.
Card 2: Rewards, still open after 8 months, 5 cards applied for.
1a. Since Sept of 2008
b. At least 20. Opened one in Oct 2008, but opened 8 new accounts in April of 2010. No AA yet. 8 other accounts opened since April of 2010.
Many CLIs resulting in a limit from $650 at opening to $12,500 currently.
You should also try to figure out if people who had closures had borderline profiles, and if they were actually using their Barclays card. I'm guessing that they are more likely to take AA against someone who was a little bit of a risk and who continues to seek new credit. I've also always wondered whether they shut people down who had sock drawered their Barclay card more often than people who were actively using it.
This is what I'm thinking happens. Ones who regularly use the card (and I don't mean that one cup of coffee per month) won't be shut down because they represent a profit center for Barclays. Ones who let it rot in the SD or carry a high UTIL balance frequently will be reviewed more frequently and as a result, shut down more frequently.
I'm keeping my fingers crossed you're correct. I opened them and DCU and plan on using both for specific things to maximize rewards and PIF. Hopefully if I show that I'm responsible and actively using it they won't close me.
1. Yes, Apple Financing Visa
b. Yes, 4: NFCU 9mo. Amex & Citi 10mo. Signal FCU 13mo.
I picked up a Barclays NFL card a few months ago, maybe October?
I wanted the $400 statement credit and immediately put $1000 through it.
Upon receiving the credit, I used it a few different places and used the credit.
I then decided I wanted to finally buy a new car, and I did and I even used $2000 of my $7,500 CL to place part of a downpayment on it. I was surprised the dealer would even let me do this. Then I remembered Barclays has a promotion going on that if you spend $500 in Dec, Jan, and Feb, they give you a $200 statement credit. So I'll be placing car payments for such amounts in the next two months before I pay the rest of the car's financing off.
Barclay's didn't flinch at however many inquiries the auto dealer might have pounced on my credit report and have allowed me to continue to purchase.
So far, no CLD and no account closure.
I like the card to be honest, and Barclay's so far.
But I go into this thinking that if they close my card down, it's their loss and not mine.
I through down a DP on a card people would be afraid to do such a thing on AND have multiple car inquiries just two or three months account opening. Then again, I also don't fear AMEX's dreaded FR.
Follow my financial journey: http://www.frugalrican.com
Still open-opened oct 2012 on RECON (my third time applying and 2nd time reconning in 2 years)
opened 4 cards since: Walmart (same day as Barclay and told them about it during RECON), Sams club, Amazon, CapOne cash (Nov and Dec)
Reducing my util for a mortgage now, score steadily going up and all coll since I applied have been removed although util increased, nervous for an AA, they sp all my reports every month.
In July I opened a Barclay Apple Financing card and then later realized they had a rewards card. I asked if they could PC it and was told to do so I would have to apply for it and if I was declined then I could still PC it. So I did and then I called them the next day, they said because of the new inquiries and new accounts that I opened they were declining me and closing the Apple card. I discussed this with them for a bit and had it escalated and then asked for it be escalated to the manager of their department. They did tell me that the reason was the new accounts looked like I was going to go hog wild, not their words, but I knew what they meant. I first calmly explained to them I understood what they meant and pointed out the facts did not obviously fit the model of doing so, since the balances were low on my accounts and the new accounts did also not idicate such a thing. I also told them why I wanted the rewards card and that it was merely a matter of ignorance not knowing they had one. I further explained to them that if I was going to do what they were suggesting then I would have already done it with their card. They weren't having my calm explanation, hence the less calm requests for escalation. Eventually, they said I could talk to the manager, but I never actually did. They came back and agreed to open the card, but still close the other card, which was fine by me. I had to take a lower limit than what I was originally given on the Apple card, but in some ways I did not care about that either, since it was only $500 difference. They did try to pull a fast one and give me half what they said they were giving me, I actually went through the BBB to get that corrected. Since then things have been OK on the card and they have yet to do anything with it.
I did get four new cards since then, so we will see what happens when they notice that. I am not even worried about it too much, but I would like to claim the Nov, Dec, Jan, spend $100 a month and get 1000 points on it. I cashed out the other points to make sure that there would not be much of an issue if they did close it. The Discover has better rewards and so does the Chase!
I opened a Barclay's Itunes card in Nov 2011 and for 12 months didn't open up any other accounts but used the Barclay's card heavily. Got two CLI's. In Nov 2012 I opened up 3 GE accounts (store cards). No AA. I noticed I was softed by Barclays this month though.