topic Re: Barclaycard Conversion Letter in Credit Cards

Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 21:09:40 GMT

Hello.

I recieved a letter in the mail today from a place called "Mercury Card Services" informing me that my Barclaycard account has been sold and is being converted to a Mercury Mastercard. I looked around online but did not find any related information.

Has this happened to anyone else?

Note: As far as I know my account with Barclaycard is in good standing. No lates, no overlimits.

Re: Barclaycard Conversion Letter

HeavenOhio — Fri, 03 Aug 2018 21:14:40 GMT

Which Barclays card do you have?

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 21:20:50 GMT

I currently have a Barclaycard Rewards Mastercard.

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 21:28:59 GMT

I spoke with Customer Service who stated that a "majority" of Barclaycard Rewards Mastercard products were sold to Card Services for Mercury Mastercards. I asked if I could just trade my credit line to a different Barclaycard product but was told I could not. I am currently in the process of rebuilding so that may be a factor, or maybe they aren't allowed to trade line debt they have already sold.

As a rebuilder, I hope this doesn't reflect negatively on my credit report as a new credit line with a closed credit line, but I am afraid it is more than likely.

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 21:41:11 GMT

In doing a little quick & dirty research, it looks as though the Barclaycard Rewards Mastercard has a surprisingly low entrypoint for reward cards (600-650), which also surprises me for Barclaycard in general. Barclays has recently been undergoing a refreshing of their branding, and it sure seems like this could be part of it, the shedding of lower entrypoint cards. Just a little opinion from me, nothing more. I have a Barclays AA MC, so was concerned this may be part of a larger Barclays trend, but now I don’t believe so.

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 21:46:14 GMT

I believe you are correct. Based on my conversation with the CS Agent, he specifically mentioned "Barclaycard Rewards Mastercard". As a rebuilder, it's a frustration to lose or see tradelines you depend on in your file get converted/closed/restarted.

I suppose it's part of the process.

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 21:55:57 GMT

OP—For what it’s worth, the conversion “should not” change the AoA. The product name may change, as well as APR, Rewards, etc., but the account opening date should remain the same. I think that’s consistent with what happens when a co-brand partner goes out of business and the bank card remains as an unbranded card. For you and others in your position, I hope this is the case. Please keep everyone posted on updates and any additional information.

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 21:59:34 GMT

I have Barclay rewards card but I didn't get the letter. It still with Barclays.

what was your utilization over 6 and 12 months with that card?

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 22:31:49 GMT

I will keep everyone posted. The account converts at the end of September. I should know more by then. I hope you are right and I can keep the AoA.

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 22:31:07 GMT

@Anonymous wrote:
I have Barclay rewards card but I didn't get the letter. It still with Barclays.
what was your utilization over 6 and 12 months with that card?

My utilization was over 80% over 6 and 12 months. That may have been well over the line and a mitigating factor. I will say that the timing is amazing if this is the case. I have been able to whittle my utilization in total down to about 20% overall and just this Tuesday paid down my balance on my Barclaycard to zero. I guess the proverbial day late, dollar short. haha

Re: Barclaycard Conversion Letter

Anonymous — Fri, 03 Aug 2018 23:02:08 GMT

athalon,

I just received the same letter. I was shocked. I didn't even know that was possible. I knew they could close the card, but to simple sell the card to another company was surprising. I also have the Barclaycard Rewards card. I don't think it has anything to do with the utilization or total debt, since my card had a $0 balance. I was afraid something was going to happen with this card since every time I called Barclay they would refuse to do anything(APR reduction, CLI, etc.) But it's still disappointing. There's no AF, so I'll just keep the card open to build my AAoA but there's little chance I'll ever use it again for anything other than a single purchase every few months to keep it active.

Re: Barclaycard Conversion Letter

Sharingan — Sat, 04 Aug 2018 00:27:45 GMT

Very interesting. I have 3 Barclays credit cards, but they are all cobranded. I can’t say I would be inclined to keep any of them if I received noticed that one or more were going to be transferred to some obscure financial institution I’ve never heard of.

I’ll be curious to see if this acquisition is expanded to more Barclays products.

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 00:29:04 GMT

DerekEnzo,

I am with you re: using the card sparingly. Emotionally speaking, I would like to never have to deal with Barclay or this Mercury card. But fiscally the best thing I could do is keep working hard on this trade line and hopefully be able to build a better relationship with Barclay in the future with a better product. Time will tell, maybe this Mercury Mastercard will end up being a blessing in disguise for both of us.

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 01:42:02 GMT

Barclay has always been good to me.. I still have my highest limit of 11.5K with them. It started on sallie mae, then commence, then finally the horrid barclay rewards card.. If i lose this card with them, then I lose my status with them which stinks. In 6 months I was hoping to apply for the uber cc and transfer my CL and close the rewards card.. guess i'll miss out if i get hit with this.

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 02:48:48 GMT

I also received the letter today from Mercury. However I am more confused! The 4 digit Barclaycard account number referenced in the letter as being sold and being converted I’d not the same number as my active account with Barclaycard. Also I find it strange that Mercury is referring to Barclaycard as they changed their name to Barclays several months back. Lastly, I called Barclays about this. The customer service rep told me that my account has not been sold. She also could not find a active account with Barclays with the ending 4 digit account number that is listed as my account number with Barclaycard on the letter I received from Mercury. I am wondering if this is some sort of scam going around?

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 03:35:05 GMT

I don't believe it's a scam. This Mercury MasterCard is serviced by CreditShop. If you Google CreditShop you'll find a few articles where Barclay sold a bunch of CC's to them late last year. I think they're just now getting the transition put in motion.

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 03:39:40 GMT

I don’t know, just Barclay telling me my account has not been sold and the Barclay account number referenced in the letter is not my account number is strange!

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 03:41:31 GMT

You're much more level-headed than me. I'll never use another Barclay service. My experience, however, has been awful for years with them. This is just the final straw. I'm actually looking forward to the small satisfaction I'll get when I move by home savings account out of their bank, too.

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 04:15:22 GMT

@Anonymous wrote:
I don’t know, just Barclay telling me my account has not been sold and the Barclay account number referenced in the letter is not my account number is strange!

I am equally confused now. After looking again at my letter the account number listed is not the same as my active account number so I called Customer Service back. The agent stated that the numbers listed on my letter are the last 4 digits of my NEW account for Mercury Mastercard. At this point, at least in my case, it looks as though the letter is accurate insofar as my account is converting.

If you find out any more information, please let us know.

Re: Barclaycard Conversion Letter

Anonymous — Sat, 04 Aug 2018 04:17:23 GMT

My hubby and I both have a Barclays reward card and he got this same letter today but I didn't, I don't really understand what the letter meant other than saying the account was sold out to Mercury? I'll see if I get a letter too, Both of our cards have a $0 balance and I don't plan on using them anymore after this. If it has been sold, I assume we will get new cards with same cl and a higher rate?