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Senior Contributor
jsucool76
Posts: 3,983
Registered: ‎12-11-2011
0

Re: Closing Barclay's cards after less than a week.


maiden_girl wrote:

jsucool76 wrote:

trumpet-205 wrote:

I don't see the need of doing a cash advance. Just go to your bank and ask them to call Barclays.


OP doesn't actually have to take a cash advance, just ask for one so the card will be declined for fraud and they will be forced to call barclays. 


I see what you mean but it sounds to me that the OP did request a cash advance and that bank called the security department on them...

 


Nah, OP hasn't even recieved cards in the mail yet it looks like. 

;
Valued Contributor
maiden_girl
Posts: 2,110
Registered: ‎12-29-2011
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zRe: Closing Barclay's cards after less than a week.


jsucool76 wrote:

maiden_girl wrote:

jsucool76 wrote:

trumpet-205 wrote:

I don't see the need of doing a cash advance. Just go to your bank and ask them to call Barclays.


OP doesn't actually have to take a cash advance, just ask for one so the card will be declined for fraud and they will be forced to call barclays


I see what you mean but it sounds to me that the OP did request a cash advance and that bank called the security department on them...

 


Nah, OP hasn't even recieved cards in the mail yet it looks like


Speculations continue dun dun dunnnnnn.

 

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Member
justcallmetj
Posts: 17
Registered: ‎09-02-2012
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Re: zRe: Closing Barclay's cards after less than a week.

I'm so sorry for the delay.

 

I haven't received the card yet, so I'm still waiting on them to arrive. I spoke to a credit analyst today who said that they will be able to consildate the cards into one (500+500=new CL)

 

I also didn't request a cash advance, nor do I need one. I'm guessing this is how they'd like to process it? I shouldn't have to as I really don't need it.

Valued Contributor
mxp114
Posts: 1,381
Registered: ‎09-01-2011
0

Re: zRe: Closing Barclay's cards after less than a week.

I never heard of this before. How does it work? You go in request CA, get declined for fraud which forces banker to call your issuer and then what? They ask for ID?

Frequent Contributor
astritaho1979
Posts: 451
Registered: ‎10-02-2011
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Re: zRe: Closing Barclay's cards after less than a week.

I had some problems with Barcley .First they approve me for $ 3000 then 1 month later closed the accoud with no notice.I calld but you know the business (dubble standards for the average people right?) In my opinion never apply for a Fraud lender like that never again.Thats right Barcley is a fraud.Not only u get hit with the hard pull but also u kill your Age of the accounts.Why is the lenders business to whom am i doing business with ?.As long as iam paying in time and keep my end of the agreement why the standards should be any different ?


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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
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Re: zRe: Closing Barclay's cards after less than a week.


astritaho1979 wrote:

I had some problems with Barcley .First they approve me for $ 3000 then 1 month later closed the accoud with no notice.I calld but you know the business (dubble standards for the average people right?) In my opinion never apply for a Fraud lender like that never again.Thats right Barcley is a fraud.Not only u get hit with the hard pull but also u kill your Age of the accounts.Why is the lenders business to whom am i doing business with ?.As long as iam paying in time and keep my end of the agreement why the standards should be any different ?


Why is the lenders business to whom am i doing business with ?

 


So what happened, you applied for more credit somewhere that caused Barclay's to close your account?  

 

Well, it's their business because of their duty to their stockholders, they are expected to exercise due diligence and prevent loss ideally before it occurs.  Presumably your activity, whatever it was, looked like a potential danger sign to them, so they prevented their possible loss by closing your account.

 

Which of course sucks for you, but that's allowed by the rules of the game.  But without knowing what triggered it, hard to say it this was specific to Barclay's, although common wisdom here seems to be that they are more easily spooked than some.

 

But it's not fraudulent.  I don't think they made any money off you, probably one of those great situations where you both lose!

Frequent Contributor
astritaho1979
Posts: 451
Registered: ‎10-02-2011
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Re: zRe: Closing Barclay's cards after less than a week.

So how much barclay is paying you since ur jumping to me like you are barclays defender and your forgeting the point because you dont see what is so disturbing about barclays lending practice


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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
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Re: zRe: Closing Barclay's cards after less than a week.


astritaho1979 wrote:

So how much barclay is paying you since ur jumping to me like you are barclays defender and your forgeting the point because you dont see what is so disturbing about barclays lending practice


Well they were paying me $22.50 a post, but I just checked and they said that they won't pay me anymore.  Damn.

 

 

BTW, this is a FORUM.  You post one view, others may have a different one, without being paid agents of the enemy.  I'm not defending them particularly, just answering your question about what business is it of theirs.   Barclay's have the reputation for being very nervous about many things, we don't know what triggered their decision, maybe you do.

 

But in your case, unless you are so blinded by anger, you must see that they gained NOTHING financial in closing the account.  Your credit score got dinged but that doesn't benefit them.  Yes, they presumably made some money from your transactions, against the cost of sending you a card and paying for the credit pull, but they would have made more by keeping it open.  So it's NOT fraud or some deliberate grand scheme to screw people to Barclay's advantage, it might well be a very poor marketing model, in which case they will suffer in the market place.

Frequent Contributor
astritaho1979
Posts: 451
Registered: ‎10-02-2011
0

Re: zRe: Closing Barclay's cards after less than a week.

Is not that i charge on the card 2600$ so they made money from that.They closed the account as soon as i paid it in full after 1 week.Yes i opened some other accounts in the same time but they dont have to show customers the sword before even the fight begein lol.I dont neccesery believe that is the banks fauld but the underwrites are untrain and wanna keep their jobs and dont care for much of the rest of us.Everytime u apply u hurt your score.So in my opinion i got some damage and barclay made some money from the 2600 i spend


bs6054 wrote:

astritaho1979 wrote:

So how much barclay is paying you since ur jumping to me like you are barclays defender and your forgeting the point because you dont see what is so disturbing about barclays lending practice


Well they were paying me $22.50 a post, but I just checked and they said that they won't pay me anymore.  Damn.

 

 

BTW, this is a FORUM.  You post one view, others may have a different one, without being paid agents of the enemy.  I'm not defending them particularly, just answering your question about what business is it of theirs.   Barclay's have the reputation for being very nervous about many things, we don't know what triggered their decision, maybe you do.

 

But in your case, unless you are so blinded by anger, you must see that they gained NOTHING financial in closing the account.  Your credit score got dinged but that doesn't benefit them.  Yes, they presumably made some money from your transactions, against the cost of sending you a card and paying for the credit pull, but they would have made more by keeping it open.  So it's NOT fraud or some deliberate grand scheme to screw people to Barclay's advantage, it might well be a very poor marketing model, in which case they will suffer in the market place.


 


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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: zRe: Closing Barclay's cards after less than a week.


astritaho1979 wrote:

Is not that i charge on the card 2600$ so they made money from that.They closed the account as soon as i paid it in full after 1 week.Yes i opened some other accounts in the same time but they dont have to show customers the sword before even the fight begein lol.I dont neccesery believe that is the banks fauld but the underwrites are untrain and wanna keep their jobs and dont care for much of the rest of us.Everytime u apply u hurt your score.So in my opinion i got some damage and barclay made some money from the 2600 i spend


bs6054 wrote:

astritaho1979 wrote:

So how much barclay is paying you since ur jumping to me like you are barclays defender and your forgeting the point because you dont see what is so disturbing about barclays lending practice


Well they were paying me $22.50 a post, but I just checked and they said that they won't pay me anymore.  Damn.

 

 

BTW, this is a FORUM.  You post one view, others may have a different one, without being paid agents of the enemy.  I'm not defending them particularly, just answering your question about what business is it of theirs.   Barclay's have the reputation for being very nervous about many things, we don't know what triggered their decision, maybe you do.

 

But in your case, unless you are so blinded by anger, you must see that they gained NOTHING financial in closing the account.  Your credit score got dinged but that doesn't benefit them.  Yes, they presumably made some money from your transactions, against the cost of sending you a card and paying for the credit pull, but they would have made more by keeping it open.  So it's NOT fraud or some deliberate grand scheme to screw people to Barclay's advantage, it might well be a very poor marketing model, in which case they will suffer in the market place.


 


Which is why I said (last paragraph)

 

Yes, they presumably made some money from your transactions, against the cost of sending you a card and paying for the credit pull, but they would have made more by keeping it open.

 

i.e. had they kept it open you would have continued to charge and they would have continued to make money.   And again, I agree with you that they are probably way too quick to close things when people seek new credit, but it's not too make money.

 

If you saw some of my other posts, I have referred to Barclay's as a near-criminal enterprise, I am not a supporter.  But this comes from the proven facts leading to record fines (well, until this week's fines of HSBC!) for LIBOR and CA Energy Futures manipulation, see http://dealbook.nytimes.com/2012/11/05/a-triple-whammy-for-barclays/   $1B fines might well make any bank nervous.

 

 


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