topic Re: Why Barclays? in Credit Cards

Why Barclays?

Erica1 — Thu, 08 Mar 2012 22:11:57 GMT

I keep reading all these posts about watching what you do after receiving a Barclays card and all the account closures, CLDs, etc. So what is it about Barclays that still makes people want their cards? Do they have some amazing product out there that makes tiptoeing around them worth it? Or is this something they recently just started happening to people who have had accounts for a while? Not knocking anyone for their choice to get them, I'm just really curious.

Re: Why Barclays?

LS2982 — Thu, 08 Mar 2012 22:14:21 GMT

@Erica1 wrote:
I keep reading all these posts about watching what you do after receiving a Barclays card and all the account closures, CLDs, etc. So what is it about Barclays that still makes people want their cards? Do they have some amazing product out there that makes tiptoeing around them worth it? Or is this something they recently just started happening to people who have had accounts for a while? Not knocking anyone for their choice to get them, I'm just really curious.

I like mine because it's the closest thing to prime I have in my wallet and I don't want to lose it. I've never had a problem with them so far.

Re: Why Barclays?

CreditCrusader — Thu, 08 Mar 2012 22:16:38 GMT

@Erica1 wrote:
I keep reading all these posts about watching what you do after receiving a Barclays card and all the account closures, CLDs, etc. So what is it about Barclays that still makes people want their cards? Do they have some amazing product out there that makes tiptoeing around them worth it? Or is this something they recently just started happening to people who have had accounts for a while? Not knocking anyone for their choice to get them, I'm just really curious.

They are the company that handles all new Apple product financing. The card has no AF...and for a prime lender, they have a habit of allowing fringe prime applicants in the door - even if it takes a recon effort.

They also handle Priceline as well, so the scope of their range is pretty large.

Re: Why Barclays?

Anonymous — Thu, 08 Mar 2012 22:16:22 GMT

The reason why I applied for Barclays is because I had about 6-7 month history and have read that their recon is great. They also pull TU which made me want to app with them. I've also read that they're pretty good with auto CLI.

Re: Why Barclays?

jamesdwi — Thu, 08 Mar 2012 22:17:06 GMT

GOOD: its a prime lender, so the get you in the door to primeville they are easy to recon for initial card and CL.

GOOD: gives you 0% interest deals on Apple Products with the right card.

BAD: they are paranoid about new cards and INQ,

so you can enter primeville but at a price, you must not get any more credit for 6 months to a year, and if you get credit don't rock the boat with barclays, don't call barclays for anything that requires manual review of your credit file, no lates, etc... or they may cancel your account.

Re: Why Barclays?

Anonymous — Thu, 08 Mar 2012 22:19:56 GMT

Many of the cards are cobranded. If you are a regular customer, having there CC gets you discounts and rewards on things you want to buy.

Re: Why Barclays?

Anonymous — Thu, 08 Mar 2012 22:25:13 GMT

i loved the 18 month no interest financing I got on my new apple gear. Also opened a decent CL.

Re: Why Barclays?

bichonmom — Thu, 08 Mar 2012 22:25:58 GMT

@Erica1 wrote:
I keep reading all these posts about watching what you do after receiving a Barclays card and all the account closures, CLDs, etc. So what is it about Barclays that still makes people want their cards? Do they have some amazing product out there that makes tiptoeing around them worth it? Or is this something they recently just started happening to people who have had accounts for a while? Not knocking anyone for their choice to get them, I'm just really curious.

The fact is that the AA you read about Barclay's is rare. The rest of us don't post, "I have Barclays and they haven't CLD me." You only read about the negatives, for the most part.

Also, there are things that trigger AA from Barclay's, like opening new CCs shortly after theirs. They don't just do it out of the blue for no reason. If you ask for a CLI and they do a manual review, and they see something that's a red flag for them, then they could take AA. So, IMO, it's better to stay under their radar. But if you don't have anything that would be a red flag to them, then there's really nothing to worry about. (Red flags might be a lot of inq (which means you're looking for a lot of new credit), a lot of new accounts being opened, high util on your CCs.)

IMO, the positives for Barclays: The Apple card has 0% financing (why I got it). They recon, where a lot of CCs don't. So, if you're denied or receive a CL lower than you want, you can call and often get approved or get a higher CL. Also, their CS is really about the best I've seen, either with CCCs or other businesses for that matter. They are really very friendly and helpful and knowledgeable (instead of giving you scripted or incorrect answers!).

Personally, my experience with them has been very positive, and I look forward to building a long-term relationship with them.

Re: Why Barclays?

CreditCrusader — Thu, 08 Mar 2012 23:15:23 GMT

Why Barclay?

Have a look:

http://ficoforums.myfico.com/t5/Credit-Cards/Apple-Barclay-is-giving-me-a-chance/td-p/1272857

Re: Why Barclays?

LS2982 — Fri, 09 Mar 2012 01:39:11 GMT

@bichonmom wrote:
@Erica1 wrote:
I keep reading all these posts about watching what you do after receiving a Barclays card and all the account closures, CLDs, etc. So what is it about Barclays that still makes people want their cards? Do they have some amazing product out there that makes tiptoeing around them worth it? Or is this something they recently just started happening to people who have had accounts for a while? Not knocking anyone for their choice to get them, I'm just really curious.
The fact is that the AA you read about Barclay's is rare. The rest of us don't post, "I have Barclays and they haven't CLD me." You only read about the negatives, for the most part.

Also, there are things that trigger AA from Barclay's, like opening new CCs shortly after theirs. They don't just do it out of the blue for no reason. If you ask for a CLI and they do a manual review, and they see something that's a red flag for them, then they could take AA. So, IMO, it's better to stay under their radar. But if you don't have anything that would be a red flag to them, then there's really nothing to worry about. (Red flags might be a lot of inq (which means you're looking for a lot of new credit), a lot of new accounts being opened, high util on your CCs.)

IMO, the positives for Barclays: The Apple card has 0% financing (why I got it). They recon, where a lot of CCs don't. So, if you're denied or receive a CL lower than you want, you can call and often get approved or get a higher CL. Also, their CS is really about the best I've seen, either with CCCs or other businesses for that matter. They are really very friendly and helpful and knowledgeable (instead of giving you scripted or incorrect answers!).

Personally, my experience with them has been very positive, and I look forward to building a long-term relationship with them.

I look forward to it myself!

Re: Why Barclays?

Anonymous — Tue, 25 Mar 2014 10:09:39 GMT

Sorry for pulling an old thread to 2014 but just one more question,

Does Barclays CLD or close your account if you ask for CLI on other cards you already have? (does result in HPs/inquiries) = but no new accounts.

Re: Why Barclays?

Anonymous — Tue, 25 Mar 2014 12:31:59 GMT

I had a $600 CLD from Barclays in my first 6 months with them when I opened a bunch of new cards along with thiers. Since then they have been great. I have went from one card with a $2000 limit to 2 cards with a total of $9000 (Rewards $4000 Ring $5000). Their customer service is always wonderful.

I have a very active credit file with several new accounts and this has not spooked them. Just important to communicate with them.

Re: Why Barclays?

takeshi74 — Tue, 25 Mar 2014 12:43:19 GMT

@Anonymous wrote:

Does Barclays CLD or close your account if you ask for CLI on other cards you already have? (does result in HPs/inquiries) = but no new accounts.

There really isn't such a simple and straightforward causal relationship with any creditor and AA. One person could possible see AA from HP's while another might not. I would guess that above a certain theshold of HP's that they would be concerned but that theshold can vary depending on one's credit.

Re: Why Barclays?

chwebb1 — Wed, 26 Mar 2014 17:36:10 GMT

I've had my Barclaycard Ring for 9 months, and to be quite truthful, I've opened way too many accounts after theirs. I've yet to hear anything from them. I love the APR on that card, and their customer service is quite good. I plan to apply for the Barclaycard Arrival at the end of the year, and possibly ask for a CLI on my Ring. I definitely don't plan to close my account with them anytime soon. The stories of Barclays AA on here are way overblown. As long as you keep your balances low (I personally keep my UTIL reporting anywhere from 1-5%), I doubt that they'll get too worried as long as you pay everyone on time.

Re: Why Barclays?

DaveSignal — Wed, 26 Mar 2014 17:57:21 GMT

I opened my Barclays just over 7 months ago. I haven't opened any other accounts since then because I don't have a huge amount of cards that I want obtain in a spree. In fact, I don't have any other cards that I currently want. I have obtained CLIs on many of my cards though since opening Barclays. My FICO has also dropped due to inquiries for a car loan (that hasn't reported yet) and also a number of good accounts reaching 10 years and falling off my report which dropped my AAoA by a full year.

Barclays still gave me an auto-CLI on my 7th statement.

Most other credit users who fall into the generalization of 'normal' should not expect CLD. On the other hand, when your report fills with new inquiries in a period of a few days and you open 7 new accounts in a spree, thats kind of an aggresive credit-seeking behavior. Why do you need all of these cards? This kind of behavior is a red flag with any lender, but I have heard that Barclays is more sensitive. It would put me on-edge too if I was offering my money to someone and then they started going to everyone else they knew and asking for more money.

Re: Why Barclays?

celluloid17 — Wed, 26 Mar 2014 18:21:26 GMT

I've had the Sallie Mae Barclaycard for just over a month now and I love it and my experience with Barclay thus far. Their website is phenomenal and I appreciate their rewards structure. I had planned on apping for a Cap1 QS this week, but i'm going to hold off for awhile because I don't want to spook Barclay, that's how much I want to maintain good standing with them and I hope to expand my relationship with them by obtaining an Arrival card at some point in the future.

Re: Why Barclays?

Involver — Wed, 26 Mar 2014 18:35:09 GMT

@celluloid17 wrote:
I've had the Sallie Mae Barclaycard for just over a month now and I love it and my experience with Barclay thus far. Their website is phenomenal and I appreciate their rewards structure.

Same and agreed. I am a very big fan of the rewards posting immediately after transactions process and the website is very well laid out and intuitive. I like knowing which transactions yield X rewards so that I know where to maximize spending (for example, I discovered my go-to Target is coded as a grocery store). Free TU08 FICO as well.

I apped for a BCE after I got the Sallie Mae but my feeling is that Barclay's is only INQ / new account sensitive if either a) you use their card for initial spend bonuses and SD it or b) you don't really use it at all. I have no fears about my card and I'm going to keep running a lot of $ through it as I hear Barclay's can be pretty rewarding with CLI for good usage.

Re: Why Barclays?

celluloid17 — Wed, 26 Mar 2014 18:47:02 GMT

@Involver wrote:
@celluloid17 wrote:
I've had the Sallie Mae Barclaycard for just over a month now and I love it and my experience with Barclay thus far. Their website is phenomenal and I appreciate their rewards structure.

Same and agreed. I am a very big fan of the rewards posting immediately after transactions process and the website is very well laid out and intuitive. I like knowing which transactions yield X rewards so that I know where to maximize spending (for example, I discovered my go-to Target is coded as a grocery store). Free TU08 FICO as well. +1

I apped for a BCE after I got the Sallie Mae but my feeling is that Barclay's is only INQ / new account sensitive if either a) you use their card for initial spend bonuses and SD it or b) you don't really use it at all. I have no fears about my card and I'm going to keep running a lot of $ through it as I hear Barclay's can be pretty rewarding with CLI for good usage.

I suspect you're spot on about what raises their red flags and inspires them to CLD or take AA.

Re: Why Barclays?

heyitsyeh — Wed, 26 Mar 2014 19:17:01 GMT

Why Barclays?

Because of Sallie Mae. Consistent usage because of gas/groceries/amazon needs will hopefully make my relationship with Barclays smooth sailing steadily upwards

Re: Why Barclays?

jesseh — Wed, 26 Mar 2014 19:26:39 GMT

They have pretty good customer service I think. I always call customer service with a few difficult questions before applying to check how willing they are to help their customers.

What they tend to do if you have a difficult question, is add somebody from the appropriate department (like the security dept.) to the call, turn it into a conference call. Works pretty well.

Oh, and if you're an apply fan their program may be an advantage for you.

Not really a reason to apply for a card or not, but the more information the better.