No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hello.
I recieved a letter in the mail today from a place called "Mercury Card Services" informing me that my Barclaycard account has been sold and is being converted to a Mercury Mastercard. I looked around online but did not find any related information.
Has this happened to anyone else?
Note: As far as I know my account with Barclaycard is in good standing. No lates, no overlimits.
Which Barclays card do you have?
I currently have a Barclaycard Rewards Mastercard.
I spoke with Customer Service who stated that a "majority" of Barclaycard Rewards Mastercard products were sold to Card Services for Mercury Mastercards. I asked if I could just trade my credit line to a different Barclaycard product but was told I could not. I am currently in the process of rebuilding so that may be a factor, or maybe they aren't allowed to trade line debt they have already sold.
As a rebuilder, I hope this doesn't reflect negatively on my credit report as a new credit line with a closed credit line, but I am afraid it is more than likely.
I believe you are correct. Based on my conversation with the CS Agent, he specifically mentioned "Barclaycard Rewards Mastercard". As a rebuilder, it's a frustration to lose or see tradelines you depend on in your file get converted/closed/restarted.
I suppose it's part of the process.
I have Barclay rewards card but I didn't get the letter. It still with Barclays.
what was your utilization over 6 and 12 months with that card?
I will keep everyone posted. The account converts at the end of September. I should know more by then. I hope you are right and I can keep the AoA.
@Anonymous wrote:I have Barclay rewards card but I didn't get the letter. It still with Barclays.
what was your utilization over 6 and 12 months with that card?
My utilization was over 80% over 6 and 12 months. That may have been well over the line and a mitigating factor. I will say that the timing is amazing if this is the case. I have been able to whittle my utilization in total down to about 20% overall and just this Tuesday paid down my balance on my Barclaycard to zero. I guess the proverbial day late, dollar short. haha