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Established Contributor
Posts: 1,000
Registered: ‎11-08-2012
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Re: Dear Barfclays oh why oh why did you close my account.

Ithank you everyone for the great feedback! I hope this thread helps someone who maybe considering app'ing for the xmas season and have just opened a barclay card. I've learned my lesson. No app'ing for a long time.

Contributor
Posts: 137
Registered: ‎11-12-2013
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Re: Dear Barfclays oh why oh why did you close my account.


Booboo71 wrote:

After a solid whole 3 months with my Barclays apple Visa card , I find out online that they closed it!  Never late and made large payments for 3 months. When I called they told me it was because of the inquires and open accounts I have established after opening with them.. Had I known that I would have not app'd. I am also new to the board and this is my 1st post. I'm rebuilding my credit after being foolish in the past. Any thoughts or insights, please.Smiley Happy


Barclay's definitely got spooked by the fact that you transferred a decent limit to their card and then 3 months later opened 12 new accounts. They definitely saw a negative pattern in the fact that you had a balance on other card(s), placed them on a Barclay's card (a liability to them now) and then went ahead and opened 12 new accounts. For all they know you might go and put balances on those cards as well. Just appeared as a risk to them.


FICO - TU: 775 | EQ: 767 | EX: 765
Capital One Venture One Visa Signature: $10k (7/2015) | Amex BCE: $9.8k (3/2014) | Amex Corporate: NPSL | Chase Freedom Visa Signature: $9.5k (3/2014) | Discover it: $9.5k (3/2014) | Sears MasterCard: $3k 1/2013) | Barclays Visa Financing (Apple): $2k (6/2013)
Established Contributor
Posts: 1,000
Registered: ‎11-08-2012
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Re: Dear Barfclays oh why oh why did you close my account.

But I didn't .. It's my lesson I learned. 

Established Contributor
Posts: 1,000
Registered: ‎11-08-2012
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Re: Dear Barfclays oh why oh why did you close my account.

We'll I just checked my fico score on here and  my fico went from 641 to 627 as of today. Barclays shows a balance of 1369 and I made my payment for 469 which posted last week.  My true balance is 900. I'm really confused now. I have struggled to get this score from being at 524 last year in November to now at 641. Very depressing.

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Senior Contributor
Posts: 30,152
Registered: ‎02-07-2013
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Re: Dear Barfclays oh why oh why did you close my account.


Booboo71 wrote:

We'll I just checked my fico score on here and  my fico went from 641 to 627 as of today. Barclays shows a balance of 1369 and I made my payment for 469 which posted last week.  My true balance is 900. I'm really confused now. I have struggled to get this score from being at 524 last year in November to now at 641. Very depressing.


Could be wrong but sounds like you made the payment after the statement cut.

This point should be stressed more here an app spree should not be encouraged because its not for every profile
A thick file will support more apps at one time while a thin file may see negative reaction to this process

IMHO 4+ at one time is to many for a new file and it should be kept to 1-3 a year but we get caught up sometimes in seeing the little wheel spin and the words approved
Established Contributor
Posts: 670
Registered: ‎11-30-2012
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Re: Dear Barfclays oh why oh why did you close my account.

You have to wait for the statement cycle to close for it to show up.  Be glad your score only declined 20+ points.  My last app spree cost me 60.

 

Barclays is also very sensitive to cash advances which is technicially what a balance transfer is.  So you double spooked them.


Booboo71 wrote:

We'll I just checked my fico score on here and  my fico went from 641 to 627 as of today. Barclays shows a balance of 1369 and I made my payment for 469 which posted last week.  My true balance is 900. I'm really confused now. I have struggled to get this score from being at 524 last year in November to now at 641. Very depressing.




Valued Member
Posts: 49
Registered: ‎11-28-2013
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Re: Dear Barfclays oh why oh why did you close my account.

Are any other lenders this paranoid aboth the new enqieries?

AMEX BCP 25k | Discover It 17.6k | NIHFCU/Elan Bonus Rewards 9.8k | Citi ThankYou Preferred 9.4k (AU) | Barclaycard Arrival+ 8.5k | Citi Simplicity 8.5k | Andrews FCU GlobeTrek 7.5k | Sears MC 6.5k | Old Navy Visa 6k | Target 2.4k | Macy's 1.8k

EX FICO: 800 | TU FICO: 808 | EQ FICO: 815
Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: Dear Barfclays oh why oh why did you close my account.


ccuser wrote:

Are any other lenders this paranoid aboth the new enqieries?


Again, let me emphasize they are not being paranoid.  Twelve in 3 months will spook any lender

Valued Member
Posts: 49
Registered: ‎11-28-2013
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Re: Dear Barfclays oh why oh why did you close my account.


09Lexie wrote:
Again, let me emphasize they are not being paranoid.  Twelve in 3 months will spook any lender

OK, let's say they are sensitive. Just wanted to know who else is.

AMEX BCP 25k | Discover It 17.6k | NIHFCU/Elan Bonus Rewards 9.8k | Citi ThankYou Preferred 9.4k (AU) | Barclaycard Arrival+ 8.5k | Citi Simplicity 8.5k | Andrews FCU GlobeTrek 7.5k | Sears MC 6.5k | Old Navy Visa 6k | Target 2.4k | Macy's 1.8k

EX FICO: 800 | TU FICO: 808 | EQ FICO: 815
Valued Contributor
Posts: 1,599
Registered: ‎11-10-2012
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Re: Dear Barfclays oh why oh why did you close my account.


Booboo71 wrote:

After a solid whole 3 months with my Barclays apple Visa card , I find out online that they closed it!  Never late and made large payments for 3 months. When I called they told me it was because of the inquires and open accounts I have established after opening with them.. Had I known that I would have not app'd. I am also new to the board and this is my 1st post. I'm rebuilding my credit after being foolish in the past. Any thoughts or insights, please.Smiley Happy


After reading too many of these Barclays horror stories, I will NEVER app for ANY of their cards. There are so many choices out there...who needs them?

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