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Established Contributor
Andy77
Posts: 675
Registered: ‎10-02-2007
0

Barclays said this...

[ Edited ]

 

So called Barclays today to see if they could move my CL to the Virgin Visa (applied last night and got declined)

 

The rep put me on hold and said they could do it but I need to pay down my current account first then they could move the CL over

 

CL 3500

Bal about 2500

Avail Credit Now 825.00

 

I said I have (3) payments scheduled, do u see them (900.00, 900.00, 800.00 , all to auto pay over next (3) weeks) rep said yes I see them

 

Has anyone heard of them or a creditor asking a card holder to pay dowm a balance before they transfer the CL over to another product?

 

 

 

Epic Contributor
Creditaddict
Posts: 22,067
Registered: ‎10-23-2007
0

Re: Barclays said this...


Andy77 wrote:

 

So called Barclays today to see if they could move my CL to the Virgin Visa (applied last night and got declined)

 

The rep put me on hold and said they could do it but I need to pay down my current account first then they could move the CL over

 

CL 3500

Bal about 2500

Avail Credit Now 825.00

 

I said I have (3) payments scheduled, do u see them (900.00, 900.00, 800.00 , all to auto pay over next (3) weeks) rep said yes I see them

 

Has anyone heard of them or a creditor asking a card holder to pay dowm a balance before they transfer the CL over to another product?

 

 

 


You trying to transfer just $500 to Virgin to get them to open it vs. flat out deny you for it because they don't want you to have more than $3500?

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Established Contributor
Andy77
Posts: 675
Registered: ‎10-02-2007
0

Re: Barclays said this...

 

No, I wanted the entire CL (3500) and balance transferred to the Virgin card (I only want one card)

They can close the Apple Financing Visa

 

But they are telling me they want me to pay down the balance on the Apple Financing Visa first and I thought that was odd

Senior Contributor
jsucool76
Posts: 3,855
Registered: ‎12-11-2011
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Re: Barclays said this...


Andy77 wrote:

 

No, I wanted the entire CL (3500) and balance transferred to the Virgin card (I only want one card)

They can close the Apple Financing Visa

 

But they are telling me they want me to pay down the balance on the Apple Financing Visa first and I thought that was odd


That makes sense to me....they're cutting out any further liability by making sure you owe them nothing first. 

 

Cell phone companies do the same thing, they won't let you upgrade your cell phone until you pay down your balance first. 

 

Why should they give you a present (A PC) if you owe them money. 

;
Frequent Contributor
WhiteCollar
Posts: 314
Registered: ‎04-07-2012
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Re: Barclays said this...

Chase said the same when I wanted to PC from Freedom to CSP. It's not an uncommon request. 

Established Contributor
Andy77
Posts: 675
Registered: ‎10-02-2007
0

Re: Barclays said this...

 

 

Well considering I run everything through the Apple Financing Visa, my balance will never be completely zero.

I can will have it paid down to about 600 bucks in (3) weeks, but I pay about 800 to 900 every week on the card

 

So, hopefully they will do the PC with a 600 dollar balance on the card.

 

How I see it is, they are not giving me any additional credit, they are closing the current CL, moving it and balance to new card, so it is swaping one out for the other

I don't see why I should have to pay down the Apple Financing Visa first

 

Epic Contributor
Creditaddict
Posts: 22,067
Registered: ‎10-23-2007
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Re: Barclays said this...


jsucool76 wrote:

Andy77 wrote:

 

No, I wanted the entire CL (3500) and balance transferred to the Virgin card (I only want one card)

They can close the Apple Financing Visa

 

But they are telling me they want me to pay down the balance on the Apple Financing Visa first and I thought that was odd


That makes sense to me....they're cutting out any further liability by making sure you owe them nothing first. 

 

Cell phone companies do the same thing, they won't let you upgrade your cell phone until you pay down your balance first. 

 

Why should they give you a present (A PC) if you owe them money. 


Yes, I have only heard of GE with like Gap, Banana, Old Navy and Target combing all your cards to 1 IF your current balance fits on the current CL of the card you want to keep because they don't combine the credit lines, they will just combine accounts (you would be insane to do I think unless you have $100CL)

But any bank that will move CL's like you want to do usually will not do such a thing until you have a $0 balance unless above scenario.

I don't know about a Cell Phone unless behind... although Verizon recently put a $500 credit line on ALL personal accounts for billing items to your account (all because of the constant fraud with Apple Products!!)

I use to have $3000 (which is normally an internal thing that you wouldn't see) but I am very good at observing things around me while others think they can pull fast ones over on me :smileyhappy:

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Established Contributor
Andy77
Posts: 675
Registered: ‎10-02-2007
0

Re: Barclays said this...

 

I am confused

 

Why can't they do this?  

 

What liablity is it to them if you are closing one account, not asking for more credit, and transferring the CL and bal to another card?  The only difference is the piece of plactic is a different color and the 16 digit account number is different, all else is the same

Epic Contributor
Creditaddict
Posts: 22,067
Registered: ‎10-23-2007
0

Re: Barclays said this...


Andy77 wrote:

 

I am confused

 

Why can't they do this?  

 

What liablity is it to them if you are closing one account, not asking for more credit, and transferring the CL and bal to another card?  The only difference is the piece of plactic is a different color and the 16 digit account number is different, all else is the same


If they denied you for the card, it's probably a different process in the computer for them to do it.

Even when I have done it with Chase (5-8 years ago) they could not move the entire CL over to the account I wanted and I could not move CL that wasn't currently avaialble above current balance.  Bank of America was known to take CL on avialable CL on current cards if they would not approve the account with it's own CL and they were doing that automatically for you without calling you or anything! but again on avaialable credit only!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Established Contributor
Andy77
Posts: 675
Registered: ‎10-02-2007
0

Re: Barclays said this...

 

Oh I think I understand.....they want me to pay down the balance because that way they can take what ever is available at the time they do the CL transfer to the new card.

I get that...

 

BUT

 

What if I cannot pay it off in full...what if the best I can do is pay it down to a balance of 600

(I mean I will be able to pay it off in full in a few months, but not in the time frame needed (30) days so they don;t have to pull another bureau report)

 

Do you think they would flat out just not be able to help me at all until the balance hits ZERO?


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