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My Barclay CC was cancelled

Established Contributor

Re: My Barclay CC was cancelled

How many new accounts/inq's since you opened the card?

Transunion: 713 FICO (5/13/2014) MyFico
Experian: 789 FICO (4/10/12) Lender Pull
Equifax: 695 FICO (1/10/14) MyFico

My cards: Chase United Mileage Plus 7000CL (3/12), CITI Simplicity 1800CL (9/12), Cap1 Platinum 1000CL (2/10), Cap1 Cash back 1500CL (11/11), Apple Barclay's 2500CL (11/11), Discover IT 6000CL (5/13)

My Primary Financial Goal is to put down my utl%.



Message 11 of 43
New Contributor

Re: My Barclay CC was cancelled

Installments

Starting Score: 604
Current Score: 694
Goal Score: 750


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Message 12 of 43
Established Contributor

Re: My Barclay CC was cancelled


TeeandDee wrote:

brooklinier wrote:
Anyway I did buy the IPad but I can't use the credit card anymore after today. I'm going to pay off my balance and forget Barclays exist.

So are they going to let you pay off the IPad in installments/financing?? Or did they stick you with the full balance since they cancelled the card?? 


Are they allowed to do that?  Wouldn't that violate the original terms of the card that you applied for, which included 6 months no interest?

Gardening with: PSECU Combo $1k, Chase Freedom $3.5k, Discover It $1.7k, Amex Costco True Earnings $2k, Capital One Platinum $500, Best Buy Store Card $2.7k

Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12
Current Score: FICO: 678 EX, 629 EQ, 658 TU, 3/27/12; USAA FAKO: 721 EX, 721 EQ, 576 TU, 3/9/12
Goal Score: 700 Across the Board and Amex Zync or Costco By The End Of 2012


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Message 13 of 43
New Contributor

Re: My Barclay CC was cancelled

Yes they will let me pay in six month with zero interest, but what it means is that after I finish paying o can't use the card anymore.

Starting Score: 604
Current Score: 694
Goal Score: 750


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Message 14 of 43
Senior Contributor

Re: My Barclay CC was cancelled

Unfortunately the button you saw wasn't put there for you specifically; it shows up on everyone's account. It doesn't mean that you're pre-approved for a CLI. It's just there for account holders who want to request a CLI.

 

It appears by doing this, it instigated a HP by Barclay's, which denied your CLI. Then when you called to recon and spoke with a human, they saw something they didn't like on your CR. They are VERY sensitive to new accounts being opened within 6 mos. Many have reported doing that with no problems; however, some do.

 

What was your CL with them? How many new accounts have you opened since Barclay's? They may also be seeng any accounts you apped for before Barclay's that didn't show on your CR when you apped with them. So, they may be seeing more new accts than you're thinking.

 

There was another thread similar to this recently. Frankly I think with Barclay's it may be better to wait for an auto-CLI -- also to avoid the HP. I sure won't be hitting Barclay's luv button!

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 15 of 43
Established Contributor

Re: My Barclay CC was cancelled

I opened 6 new accounts after Barclays, all the same month, I have called and got a CLI and never had a problem However I am at 1% and pay in full monthly, not sure if that make a difference .
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 16 of 43
Regular Contributor

Re: My Barclay CC was cancelled

It's funny how everyone panics about an AmEx FR yet Barclays will just close your account if there are some inquiries and theres no major outcry on the forums (like there is against AmEx anyways).

What's In My Wallet:American Express Starwood Preferred Guest Business Card, American Express Costco True Earnings, Citi AA Visa, Barclays US Air, Citi Prestige
What's In My Sock Drawer: Chase Sapphire Preferred, Discover More, Bank of America Accelerated Rewards AmEx, SME FCU Visa
Message 17 of 43
Established Contributor

Re: My Barclay CC was cancelled


Smerri1029 wrote:

It's funny how everyone panics about an AmEx FR yet Barclays will just close your account if there are some inquiries and theres no major outcry on the forums (like there is against AmEx anyways).



I think it's all much ado about nothing personally. These CC companies can close you down for nearly any reason they want. Sure, the card-holder can scream, complain, write reviews on this forum...whatever. If a CC company doesn't want you as a customer, they'll find a reason to ax you.

 

I hate to sound like a broken record, but this is why it is so important to establish a good relationship with a local lender - particularly if you are a fringe prime candidate (the sort of customer Barclay's seems intent upon frustrating on a near-daily basis). All it takes is one pair of cold feet upon review of your account to rain on the party. Local lenders like small banks and credit unions value RELATIONSHIPS, and therefore likely won't be softing you endlessly like AMEX or Barclay's does.

 

Anyway...just some food for thought Smiley Happy

I'm Spartacus!

hr>Starting Score: EQ 546, EX 547, TU 580
Current Scores (lender): EQ 725 , EX FICO 720, TU 737 FICO scores>
Goal Score: 750
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Message 18 of 43
Senior Contributor

Re: My Barclay CC was cancelled


Smerri1029 wrote:

It's funny how everyone panics about an AmEx FR yet Barclays will just close your account if there are some inquiries and theres no major outcry on the forums (like there is against AmEx anyways).


Barclay's doesn't close accts due to inquiries. They will close your acct if they see you've obtained a lot of *new* credit at the same time or after opening their account. That makes them nervous.

 

 

I do believe that your util on the Barclay's card and overall util must play a part. Otherwise everyone who gets a new card after Barclay's would be experiencing this. And as others have said, would Apple do business with a bank who randomly closes new accts.?

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 19 of 43
Super Contributor

Re: My Barclay CC was cancelled

Sorry to hear . Barclays likes to close people accounts after asking for CLI. They did it to me when they were Juniper years ago. They haven't  after closed my account after I opened many new accounts last year.  By the way, you have waited for iPad3 coming later this year.  You should get BB card instead of Barclays. It gives 18 months no interest financing instead of 6 month over $499.  Once I wanted to get Apple card to buy a new iMac and my brother told me not to get one because of it. Barclays don't like new accounts, high balance like BofA. 

 

 

Ron.

Message 20 of 43