topic Re: Barclays adverse action in Credit Cards

Barclays adverse action

trant3 — Tue, 07 Jan 2020 19:15:54 GMT

Sooo just encountered my first account closure by a lender. Barclays decided to close my plain rewards card (OG Sallie Mae) after the new year. No letter received yet but I suspect due to no use. I have not used it in 2 years so I dont blame them. I did keep the card for sentimental value since it was one of my first cards obtained during my rebuild years ago. Oh well, on to the next one.

Re: Barclays adverse action

soxfaininfl — Tue, 07 Jan 2020 19:46:50 GMT

I have 18 accounts, and I always make sure I put a small spend on the ones I don't use every 6 months so this doesn't happen. Sorry to hear this happend to you OP. What was your limit on this card? Was it 7.5K? I see one Barclays in your signature.

Re: Barclays adverse action

red259 — Tue, 07 Jan 2020 19:46:43 GMT

@trant3 wrote:
Sooo just encountered my first account closure by a lender. Barclays decided to close my plain rewards card (OG Sallie Mae) after the new year. No letter received yet but I suspect due to no use. I have not used it in 2 years so I dont blame them. I did keep the card for sentimental value since it was one of my first cards obtained during my rebuild years ago. Oh well, on to the next one.

Yea two years of non-use is what got my BoA closed. They specifically pointed out in their letter that it has been over two years. To be honest I am not even sure where that card was. Probably somewhere in the bottom of the drawer.

Re: Barclays adverse action

M_Smart007 — Tue, 07 Jan 2020 20:28:48 GMT

Two years is a while to go without use, I have heard some will close in just a little over 1 year.

Re: Barclays adverse action

JR_TX — Tue, 07 Jan 2020 23:12:46 GMT

At least they gave you 2 years. They would send DW letters of closure every 6 months of non-use. DW wants to keep them (2) for sentimental value as well so it's costing us some pizza and wings just to keep 'em open! 😜

Re: Barclays adverse action

wasCB14 — Tue, 07 Jan 2020 23:17:51 GMT

I've heard of Barclays sometimes closing in as little as 6 or 9 months and without any "use it or lose it" warning letter.