topic Re: Barclays: Closing accounts after new accounts, poll! in Credit Cards

Barclays: Closing accounts after new accounts, poll!

Anonymous — Mon, 07 Jan 2013 03:22:19 GMT

Just trying to get some numbers here as there seems to be a lot of disagreement! So, please respond if you have ever held a credit card issued by Barclays (US ones).

1) Is the card still open? If so

a) How long have you had it

b) Do you open other accounts after getting the card? If so, how many and how soon.

If closed:

a) Who closed it? If Barclays did they give reasons? Do you open other accounts after getting the card? If so, how many and how soon.

My answers:

Card 1: Us Air, closed by me after 18 months. 2 cards opened between opening and closing, no comment from Barclays.

Card 2: Rewards, still open after 8 months, 5 cards applied for.

Re: Barclays: Closing accounts after new accounts, poll!

Open123 — Mon, 07 Jan 2013 03:32:52 GMT

1. US Air - Opened for 40k bonus. Closed by me after 8 months. No other Barclay card.

2. After opening the card and before I closed it, I had app'ed for 4 other cards for sign up bonuses last year.

I never heard from them, except for balance transfer checks they kept sending me.

Re: Barclays: Closing accounts after new accounts, poll!

youngandcreditwrthy — Mon, 07 Jan 2013 03:48:47 GMT

Yes
8 months
Opened Chase Freedom, Discover, and Amex from the fourth - seventh months

Re: Barclays: Closing accounts after new accounts, poll!

navigatethis12 — Mon, 07 Jan 2013 03:52:19 GMT

Barclays Rewards Mastercard - open for eleven months on the 24th. At least six acconts reported after I opened the account (February 2012) and I just opened five more past two months (four reporting, one not yet). I have spoken to an analyst three times for new cards and increases and all declined . They all have referenced the new accounts as the reason but did not say anything about closing it. I started at 2500 and at six months went up to 3400.

I got it for mobile phone bills but have Chase/American Express at 5% and many other cards with no interest so if they do close it, that is fine since the limit is the third lowest.

Re: Barclays: Closing accounts after new accounts, poll!

Unique620 — Mon, 07 Jan 2013 04:23:16 GMT

@Anonymous wrote:
Just trying to get some numbers here as there seems to be a lot of disagreement!    So, please respond if you have ever held a credit card issued by Barclays (US ones).

1) Is the card still open? If so
   a) How long have you had it
   b) Do you open other accounts after getting the card? If so, how many and how soon.
If closed:
a) Who closed it?   If Barclays did they give reasons? Do you open other accounts after getting the card? If so, how many and how soon.

My answers:

Card 1: Us Air, closed by me after 18 months.   2 cards opened between opening and closing, no comment from Barclays.
Card 2: Rewards, still open after 8 months, 5 cards applied for.

I have Apple Barclay Card open for a month. No other accounts open around the time. I did apply for Apple Credit Union a day before I applied for Barlcay. The account is not open yet for Apple. Barclay is still open.

Re: Barclays: Closing accounts after new accounts, poll!

jake619 — Sat, 19 Jan 2013 16:59:37 GMT

Sticky candidate... too bad this can't be more like a database so the answers were structured (thus indexed and searchable like Edited.

This post has been edited to remove a link that was in violation of the myFICO TOS.

Shogun, myFICO moderator

Re: Barclays: Closing accounts after new accounts, poll!

Walt_K — Mon, 07 Jan 2013 04:44:07 GMT

You should also try to figure out if people who had closures had borderline profiles, and if they were actually using their Barclays card. I'm guessing that they are more likely to take AA against someone who was a little bit of a risk and who continues to seek new credit. I've also always wondered whether they shut people down who had sock drawered their Barclay card more often than people who were actively using it.

Re: Barclays: Closing accounts after new accounts, poll!

youngandcreditwrthy — Mon, 07 Jan 2013 05:19:39 GMT

My Travelocity Amex has been within 70-80% of the limit the whole time Ive had it. Although.. I paid off a $5500 bal in full to avoid the 0% ending :-) Im about to pay off $6500 on it again haha in full! Ive used it a lot bc of the cheap rates!!

Re: Barclays: Closing accounts after new accounts, poll!

Anonymous — Mon, 07 Jan 2013 05:24:06 GMT

Yes, all that data would be good. But for now I was just interested in the basic "Does it happen very often" which is certainly the impression you get from reading the forum.

My guess (and just a guess) is that it is much less common, mainly because it gets reported when it happens, and doesn't get reported when it doesn't(!), but that said, it might be that Barclays is more likely to do this than other lenders. But is the chance of Barclays doing it say 2% compared to other lenders 1%, or, as claimed the other day, 99.5%, i.e. should you be just a tiny bit concerned, or totally scared!

And of course the experience may differ by card, those cards needing excellent credit may be more or less at risk than those needing average credit.

Re: Barclays: Closing accounts after new accounts, poll!

beb86 — Mon, 07 Jan 2013 05:27:02 GMT

Apple Visa 4/12, yes walmart, and mortgage in the same month....also my util has been high on that card but only thing was I was denied a CLI

Re: Barclays: Closing accounts after new accounts, poll!

kimmiller112 — Mon, 07 Jan 2013 05:36:11 GMT

I hope I don't jinx myself...

I opened an Apple financing card in April 2012 but ended up not getting a computer. I opened up a USAir credit card in May 2012. In June, I called to see if I could close the Apple card and roll over the CL onto the USAir card, which they did. Since opening the USAir card, I have opened up 10 other accounts. I use the USAir card frequently and normally paid in full each month, although I will probably have to leave a small balance on it this month because I used the card for some unexpected traveling expenses.

Re: Barclays: Closing accounts after new accounts, poll!

Anonymous — Mon, 07 Jan 2013 05:40:40 GMT

@kimmiller112 wrote:
I hope I don't jinx myself...

I opened an Apple financing card in April 2012 but ended up not getting a computer. I opened up a USAir credit card in May 2012. In June, I called to see if I could close the Apple card and roll over the CL onto the USAir card, which they did. Since opening the USAir card, I have opened up 10 other accounts. I use the USAir card frequently and normally paid in full each month, although I will probably have to leave a small balance on it this month because I used the card for some unexpected traveling expenses.

That's the reason I opened the thread: "Barclays, you there? Got someone who opened Apple in April 2012, US Air May 2012, rolled the CL in June. Yeah, that's right $4900. Oh, a $1000 on Rewards. Got it? OK, so you'll close right now, great. Don't forget to send me the $100!"

Re: Barclays: Closing accounts after new accounts, poll!

toppers555 — Mon, 07 Jan 2013 06:23:48 GMT

I'll make a post when I get letter from Barlclay , but my CL was decline due to reason to many inquries on file. I had less then I had when I appiled for the card.

Re: Barclays: Closing accounts after new accounts, poll!

Anonymous — Mon, 07 Jan 2013 06:25:49 GMT

@toppers555 wrote:
I'll make a post when I get letter from Barlclay , but my CL was decline due to reason to many inquries on file. I had less then I had when I appiled for the card.

Thanks, trying to recall, you applied for a CLI, and then they closed your card, right?

Re: Barclays: Closing accounts after new accounts, poll!

toppers555 — Mon, 07 Jan 2013 06:34:04 GMT

right, only other think I coud think of that might be a possible reason is that transunion recently started listing reason code loans balance to loans amount is to high after last round of student loans, but DTI is still under 20%.

Re: Barclays: Closing accounts after new accounts, poll!

Guyatthebeach — Mon, 07 Jan 2013 23:20:38 GMT

I have an Apple Visa and a Barnes & Noble MasterCard. I'm using the Apple Visa to take advantage of 0% on an iPad mini. I pay the mastercard in full every month. I have had both cards for about 3 months, and no problems so far. I don't plan on any new cards for a while. I do plan on buying a new car but plan on putting it off until 2014 hopefully.

Re: Barclays: Closing accounts after new accounts, poll!

Anonymous — Mon, 07 Jan 2013 23:57:11 GMT

I applied for a card from Barclays about 8 months ago and opened 3 additional cards in the following two months.

I saw a lot of AR soft pulls from them, but no AA. I received a 5k CLI after my last statement, raising the total CL to 20k.

Re: Barclays: Closing accounts after new accounts, poll!

Rhaeny — Tue, 08 Jan 2013 01:29:53 GMT

@Anonymous wrote:
Just trying to get some numbers here as there seems to be a lot of disagreement!    So, please respond if you have ever held a credit card issued by Barclays (US ones).

1) Is the card still open? Yes...for now

   a) How long have you had? Opened in Sept 2012

   b) Do you open other accounts after getting the card? If so, how many and how soon. Yes, 4 accounts were opened the day before app with Barclay's, 2 inq on TU and 2 on EQ. So they did see those two inquiries and of course the new accounts were NOT reporting yet. I have opened 7 accounts after them and they have been doing A/R but no sign of AA yet. Oh and two of those 7 accounts are not reporting yet which are Discover and NFCU. I have a $2K CL with Barclays and I charge about $700 monthly and PIF before the statement cuts. My util has never gone beyond 16% of my total CL's. This is quite a bit of activity for Barclay so we shall see if I escape the chop or not.

Re: Barclays: Closing accounts after new accounts, poll!

jake619 — Tue, 08 Jan 2013 01:49:51 GMT

@Anonymous wrote:
Just trying to get some numbers here as there seems to be a lot of disagreement!    So, please respond if you have ever held a credit card issued by Barclays (US ones).

1) Is the card still open? Yes,

   a) How long have you had? Opened in Nov 2012

   b) Do you open other accounts after getting the card? If so, how many and how soon. Yes, 1 AMEX that triple pulled. Coincidentally Barclays SP'd EX at day 30, same day I apped for AMEX. 50/50 they saw it.

Re: Barclays: Closing accounts after new accounts, poll!

Karunch — Tue, 08 Jan 2013 03:33:08 GMT

I have a Barclays iTunes Visa that was opened in July 2011, and it's still open to this day. I was originally denied for the card because they said that I had to too many inquiries, but I had been car shopping so there were like 8 inquiries from that. After recon I was approved for $2,000. Since that time my CL went from $2,000 to $3,450 to $5,410 and is now $10,000.

Since getting the iTunes account I've opened 6 new accounts: Walmart (9/11), Old Navy (9/11 but I've since closed this ON account), NFCU NavChek (11/11), PayPal SC (11/11), NFCU Platinum MC (3/12), and local CU MC (7/12).