Proactively Closed Barclays Ring

[CreditMagic7]

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@kdm31091 wrote:
I agree that the angst isn't worth it. "Should I use it, should I SD it, will they be happy with me?" etc. As stated its just a card. Use it and live your life. If a lender doesn't like how you spend or don't spend then who needs them? Plenty of options out there.

I have a cash forward but I have never been super impressed by anything Barclays. The analysts are very uptight. Yes they are just doing their job, but they come off as if their cards are the best out there and they're doing you a favor to extend you credit. It's a bit much. I'm also turned off by their "forced use" tactics on cashforward, arrival, etc with the high redemption thresholds. I understand they want usage, and that's fair, but for low spenders it's a headache.

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Bingo! kdm31091

In addition to what might be considered an overly aggressive so-called risk management policy, kdm31091 speaks very directly to a real concern from my own experiences over the past couple of years during any correspondences i have had with them.

I never really spoke of it openly until now and much rather preferred to sweep it under the rug and dismiss it, but dealing with their analysts has been like talking with a cocky high school part-timer with an overactive ego numerous times. And almost always with a predetermined mind to say NO at any answer or explanation and is why i really quit bothering to even correspond anymore until the generic PC call.

Most if not all of the top card lenders in the industry at the very least are reasonably objective and side heavily toward customer satisfaction in going the extra mile for their customers so you come away with a sense of some satisfaction even if the decision at the time is not in the affirmative.

I hold nothing but the highest respect for any and all card lenders staff and customer service reps who sometimes are pressed with uncomfortable expectations themselves and it doesn't really matter which side your on, we all have those moments, but at the end of the day you like to think that you've done your best of what's expected of you.

[MyLoFICO]

Wow, what a coincidence! I proactively declined myself for Barclays Ring! It's kinda the same thing?

[SouthJamaica]

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@CreditMagic7 wrote:

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@kdm31091 wrote:
I agree that the angst isn't worth it. "Should I use it, should I SD it, will they be happy with me?" etc. As stated its just a card. Use it and live your life. If a lender doesn't like how you spend or don't spend then who needs them? Plenty of options out there.

I have a cash forward but I have never been super impressed by anything Barclays. The analysts are very uptight. Yes they are just doing their job, but they come off as if their cards are the best out there and they're doing you a favor to extend you credit. It's a bit much. I'm also turned off by their "forced use" tactics on cashforward, arrival, etc with the high redemption thresholds. I understand they want usage, and that's fair, but for low spenders it's a headache.

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Bingo! kdm31091

In addition to what might be considered an overly aggressive so-called risk management policy, kdm31091 speaks very directly to a real concern from my own experiences over the past couple of years during any correspondences i have had with them.

I never really spoke of it openly until now and much rather preferred to sweep it under the rug and dismiss it, but dealing with their analysts has been like talking with a cocky high school part-timer with an overactive ego numerous times. And almost always with a predetermined mind to say NO at any answer or explanation and is why i really quit bothering to even correspond anymore until the generic PC call.

Most if not all of the top card lenders in the industry at the very least are reasonably objective and side heavily toward customer satisfaction in going the extra mile for their customers so you come away with a sense of some satisfaction even if the decision at the time is not in the affirmative.

I hold nothing but the highest respect for any and all card lenders staff and customer service reps who sometimes are pressed with uncomfortable expectations themselves and it doesn't really matter which side your on, we all have those moments, but at the end of the day you like to think that you've done your best of what's expected of you.

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True. Most of them are passive-aggressive.

[Loquat]

Congrats on trimming the fat!

[CreditMagic7]

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@Falere wrote:

You....AA'd Barclays 

I love it.

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You know? I really didn't quite think of it exactly in that way but, yeah, i guess so.

Much better than the other way around.

[wasCB14]

I've not spent enough time talking to underwriters to I think I can perform psychoanalysis on them.

I think underwriters are like paramedics - if you get to know them very well, you may be taking too many risks.

[Anonymous]

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@Anonymous wrote:

Well congrats OP! Reading all of your responses definitley affirms you thought this closing out and how it fits your credit needs!

As a credit noob myself the post does scare me a bit. My SM rewards card is one of my 2 cards (the other being a Trek card which I use once a year when they offer 12 month 0% deferred interest). The SM card gets heavy use as it is the only thing in my wallet besides my drivers liscense, so a lot of the responses in this post do spook me a little. I have recieved 2 auto SP CLI's from SM, one at 6 months and one at 12 months so for me things seem to be ok with them. Are they known for decreases if you look to get a different card and don't use theirs quite as much? Asking because I want to diversify myself a bit and some of the cards I have been looking at have better rewards for some of my daily purchases. 

-Sin

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From what I've read, Barclay can have a tendency to decrease credit limits in response to aggressive credit seeking (say 5 or more accounts opened in a month, as an example) and multiple balance transfers, or a combination of the two. However, limits are also restored in such cases after the accounts have aged a bit. So as long as you only apply for a few new cards at a time and then let them age (which is good credit practice anyway), I expect you'll be fine. No need for concern, in my opinion.

[CreditMagic7]

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@Anonymous wrote:

Well congrats OP! Reading all of your responses definitley affirms you thought this closing out and how it fits your credit needs!

As a credit noob myself the post does scare me a bit. My SM rewards card is one of my 2 cards (the other being a Trek card which I use once a year when they offer 12 month 0% deferred interest). The SM card gets heavy use as it is the only thing in my wallet besides my drivers liscense, so a lot of the responses in this post do spook me a little. I have recieved 2 auto SP CLI's from SM, one at 6 months and one at 12 months so for me things seem to be ok with them. Are they known for decreases if you look to get a different card and don't use theirs quite as much? Asking because I want to diversify myself a bit and some of the cards I have been looking at have better rewards for some of my daily purchases. 

-Sin

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No need to be concerned so long as you continue responsible use like you're doing.

It absolutely became necessary for me to take steps to finally drop them for varying reasons including some of those already pointed out.

I faithfully tracked my spending the first year with their own online account Spend Analyzer to try to meet with their expectations and one of their own analyst's even applauded my (according to them) strong payment history. However time and again they were reluctant to extend any additional credit beyond the original $5K and it was a herculean effort just to get to the Ring Card with a transfer of that original limit over to it.

Couple that with showing no interest in my account's progress it was finally high time to just part ways for good and move on without them.

[AverageJoesCredit]

Well done CM7, im still a novice at the credit world, finally learning the do's and dont's, ins and outs and what have you but from what ive seen read and learned in the end you got to take care of you. Just like banks choose whom they want to do business with so should we the individual. If the card or company doesnt suit your needs time to let it/ them go. Im finally learning to app for things (cards etc) that i will use not just to have) but whats the point if you always have to look over your shoulders. Anyway good luck to you in the future hope everything continues to work out for you. Cheers!!

[Anonymous]

Congrats for taking action on a well-reasoned decision. Barclay is off my list.