@Kevin86475391 wrote:
@IaBoy62 wrote:
I have had my Rewards Mastercard three years as of September 26, 2016. My card expires at the end of this month and after several phone calls to a customer service manager, I was informed that my account will be reviewed on September 26 to determine if I am eligible to keep my account open and receive a new card with a new expiration date.
I thought they probably reviwed my account every time they did a SP on me and gave me my updated credit score.
This sounds a bit abnormal to me.....why not just shut me down if something in my profile is bothering them?
Any thoughts?
This is very odd. I've never heard of a card's expiration date actually potentially being used by a lender as an true expiration of the credit relationship.
How is your overall credit health? Do you feel you'd be approved for their rewards card today if you didn't already have it? Have you ever missed payments or been overlimit with Barclays? How's your overall utilization and payment history with all lenders?
Since their review is barely a week away there isn't really that much you can do in such a short window to improve your chances...However, definitely pay down your Barclays card to a reasonable balance if at all possible. If you have any other credit cards with high balances that will report between now and the 26th, pay those down too. Obviously don't apply for any new credit between now and then or suddenly significantly increase your debt load on existing accounts. Essentially do everything possible in the (very) short-term to get your credit as healthy as you can.
However, as others inquired, would it be a serious problem if Barclays closed your account? Are they your main/only rewards card? Your highest limit card, etc? Just a favorite in general? I've never had a Barclays card personally, but from what I've seen on the forums, the Rewards card is rarely anyone's favorite. Barclays in general doesn't seem too popular around here, with the exception of the Sallie Mae card.
Anyway, good luck and let us know how it goes!
US Bank actually didn't renew my Krogers card when it expired at the end of August. I got a letter from them a week ago, telling me they decided not to renew it.
It had a $500 limit (I got that much in CLIs last week, and about $8k in new credit....my Penfed overdraft is that much), and I hadn't used it in over two years (the closest Krogers is about 700 miles away), so I'm hardly heartbroken about it. But it does happen, occasionally.
And I still have $9k in CLs on other US Bank products.
