topic Re: Barclay Rewards CLOSED in Credit Cards

Barclay Rewards CLOSED

MrCredit — Sat, 06 Sep 2014 13:45:16 GMT

I closed Barclay. I called them today and asked for an APR reduction and was turned down. My APR on this card is 22.99%. They can shove it, I do not need their louzy $1500 CL and APR.

Re: Barclay Rewards CLOSED

barbaralee — Sat, 06 Sep 2014 13:56:02 GMT

Barclay's does not do Apr reductions

Re: Barclay Rewards CLOSED

MrCredit — Sat, 06 Sep 2014 13:57:57 GMT

There was someone in here that posted that said that he got his lowered by 2 points.

Re: Barclay Rewards CLOSED

barbaralee — Sat, 06 Sep 2014 14:00:50 GMT

There was just a thread about Apr reduction and Barclay's was mentioned as not being one to reduce. It was within this last week. They'll increase your limit to the sky, but won't reduce your Apr.

Re: Barclay Rewards CLOSED

MrCredit — Sat, 06 Sep 2014 14:01:54 GMT

http://ficoforums.myfico.com/t5/Credit-Cards/Barclay-Card-PC-and-APR-reduction/m-p/3408211#M944690

@barbaralee wrote:
There was just a thread about Apr reduction and Barclay's was mentioned as not being one to reduce. It was within this last week. They'll increase your limit to the sky, but won't reduce your Apr.

Re: Barclay Rewards CLOSED

AvadaKedavra — Sat, 06 Sep 2014 14:47:46 GMT

I recently closed my Barclay Rewards and transferred the CL over to my Ring (8% APR).

Re: Barclay Rewards CLOSED

barbaralee — Sat, 06 Sep 2014 14:57:57 GMT

So I am guessing you focused on the one that said he got an Apr reduction and NOT the one where he said "they Almost never do it"? It just seems kind of silly to close it over not decreasing the Apr. How much of a balance were you carrying?

Re: Barclay Rewards CLOSED

Anonymous — Sat, 06 Sep 2014 15:04:42 GMT

Barclay will do an apr reduction. I had my master card rewards reduced from 17.99 to 12.99. I had them for 2 years and heavily used them. I paid them off and don't use them much now.

Re: Barclay Rewards CLOSED

destine2grow — Sat, 06 Sep 2014 15:11:41 GMT

If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.

Re: Barclay Rewards CLOSED

barbaralee — Sat, 06 Sep 2014 15:16:32 GMT

@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.

Yeah, and it is my opinion that the way he did it was silly, especially with Barclays. That is all.

Re: Barclay Rewards CLOSED

TheClub — Sat, 06 Sep 2014 15:25:23 GMT

@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.

What OP did was positive. Not sure why others are throwing shade. I wouldn't keep it open neither whether they officially do APR decreases or not.

Re: Barclay Rewards CLOSED

Callandra — Sat, 06 Sep 2014 15:49:51 GMT

@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.

I agree! Besides, it's not like OP is screwing over Barclays and could definitely get another one of their better cards like Sallie Mae. I love my Rewards right now but it will definitely be replaced in the future by either Sallie Mae or BoA BBR for a good MasterCard.

Re: Barclay Rewards CLOSED

Open123 — Sat, 06 Sep 2014 15:50:44 GMT

@TheClub wrote:
@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.
+1

What OP did was positive. Not sure why others are throwing shade. I wouldn't keep it open neither whether they officially do APR decreases or not.

Right, unless it's one's oldest TL, cards for which there is no purpose should be purged, in my view.

Re: Barclay Rewards CLOSED

barbaralee — Sat, 06 Sep 2014 15:56:23 GMT

Maybe it's just me. I use to work for credit cards, so entitled people who say "do this or I cancel my card" rub me the wrong way. I understand it is for the benefit of the cardholder, but it's whatevs. In this situation I would just as soon as sock drawered it, applied for another Barclays in the future, and moved the credit line over. But different strokes for different folks, is all I am saying, and in the grand scheme of things it is only 1500.

Re: Barclay Rewards CLOSED

score_building — Sat, 06 Sep 2014 16:16:12 GMT

@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.

Yes it is but also seems shortsighted- it was clearly a PIF card at that rate, may've just waited it out and shifted CL over to another product like Sallie or their lower APR Ring for e.g. Part of the art of thinking long term with credit is to avoid emotional displays.

Re: Barclay Rewards CLOSED

Anonymous — Sat, 06 Sep 2014 16:15:12 GMT

@TheClub wrote:
@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.
+1

What OP did was positive. Not sure why others are throwing shade. I wouldn't keep it open neither whether they officially do APR decreases or not.

What a bunch of politcally correct mumbo jumbo. Great for OP, I hope he's happy with his decission.

But if someone disagrees with OPs action they are "throwing shade"? Some of you all should lighten up. You are taking this whole being supportive to a level of enablement. Being positive is great, but so is constructive criticism. I would hope that OP might learn something as to not make a rash decision based upon pride and the inability to do something that can rarely be done in the future.

If 9 out of 10 people fail to get APR reductions and OP doesn't realize that Barclay's rarely does so, is it rational for OP to cancel Barclay's because of this? IMO, it depends - if OP went in knowing he was fighting an uphill battle but didn't care about the tradeline one way or the other then great, good for OP. But if OP went in thinking he could strong arm Barclays where he let his pride get the better of him, dictate his actions, leading to the closing of the account, then maybe not so good.

Re: Barclay Rewards CLOSED

Open123 — Sat, 06 Sep 2014 16:18:25 GMT

In my estimation, it doesn't matter either way, unless it's a (1) best in class card, (2) extremely high CL for utilization purposes, or (3) oldest TL.

Re: Barclay Rewards CLOSED

AvadaKedavra — Sat, 06 Sep 2014 16:23:41 GMT

@Open123 wrote:
@TheClub wrote:
@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.
+1

What OP did was positive. Not sure why others are throwing shade. I wouldn't keep it open neither whether they officially do APR decreases or not.
Right, unless it's one's oldest TL, cards for which there is no purpose should be purged, in my view.

Even so, it stays in good standing for AAoA for 10 years...

Re: Barclay Rewards CLOSED

chalupaman — Sat, 06 Sep 2014 16:28:02 GMT

@AvadaKedavra wrote:
@Open123 wrote:
@TheClub wrote:
@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.
+1

What OP did was positive. Not sure why others are throwing shade. I wouldn't keep it open neither whether they officially do APR decreases or not.
Right, unless it's one's oldest TL, cards for which there is no purpose should be purged, in my view.
Even so, it stays in good standing for AAoA for 10 years...

I completely agree. I think as long as the OP is satisfied with the decision he made, I don't understand why he's getting flack for doing this.

Re: Barclay Rewards CLOSED

barbaralee — Sat, 06 Sep 2014 16:48:04 GMT

@chalupaman wrote:
@AvadaKedavra wrote:
@Open123 wrote:
@TheClub wrote:
@destine2grow wrote:
If the OP wanted to close his account because he was not able to get an APR reduction that is his prerogative! We all do what is best for us.
+1

What OP did was positive. Not sure why others are throwing shade. I wouldn't keep it open neither whether they officially do APR decreases or not.
Right, unless it's one's oldest TL, cards for which there is no purpose should be purged, in my view.
Even so, it stays in good standing for AAoA for 10 years...
I completely agree. I think as long as the OP is satisfied with the decision he made, I don't understand why he's getting flack for doing this.

I'm sorry, but I think if anyone is getting flack here it is me for questioning whether it was the best decision. And I don't think I was rude when I was questioning, either. I think that personal finance is just that... personal... but anytime someone says "they wouldn't do this, so I did that!" it appears as if it is a rash decision. I just thinking stepping back, cooling off, exploring all options would have been better than getting emotional and cancelling. In the end it is the OP's decision, I would just hate to think that this kind of behavior is encouraged (especially to the uninformed) when it's better to think before reacting. Keith B summed up exactly what I was trying to say.