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Barclaycard Conversion Letter

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Barclaycard Conversion Letter

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.

307 REPLIES 307
Community Leader
Senior Contributor

Re: Barclaycard Conversion Letter

Which Barclays card do you have?

Message 2 of 308
Member

Re: Barclaycard Conversion Letter

I currently have a Barclaycard Rewards Mastercard.  

Message 3 of 308
Member

Re: Barclaycard Conversion Letter

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.

 

Message 4 of 308
Established Contributor

Re: Barclaycard Conversion Letter

In doing a little quick & dirty research, it looks as though the Barclaycard Rewards Mastercard has a surprisingly low entrypoint for reward cards (600-650), which also surprises me for Barclaycard in general. Barclays has recently been undergoing a refreshing of their branding, and it sure seems like this could be part of it, the shedding of lower entrypoint cards. Just a little opinion from me, nothing more. I have a Barclays AA MC, so was concerned this may be part of a larger Barclays trend, but now I don’t believe so.
Back In the garden June 2019 until TBD
FICO 8 Scores (Inquiries) May 29, 2019

Military Star - $8.7K | FCCU Platinum Signature VISA - $13K | Care Credit - $25K | Barclay AA Red MC - $5K | Best Buy Citi Visa - $3K | Cap1 Savor - $3.1K | USAA Signature VISA - $6K | PFCU Power Cash Rewards Signature VISA - $28.5K | CSR $15K | USAA AMEX - $12K | AMEX BCP - $35K | Chase Freedom Signature Visa- $7.5K | HSBC Rewards MC - $1.75K | CITI DC - $10.3K | Discover It - $16K | NFCU Cash Rewards Signature Visa - $10K | NFCU CLOC - $15K | TD Ameritrade Client Rewards Visa - $1.5K | Chase FU Signature $15K | Citi AA Plat MC $13K
AAoA 6 Yrs 10 Mos AoOA 16 Yrs 2 Mos AoYA 1 Mos
Currently 13/24
4/24 on 1/14/20
1/24 on 3/15/20
0/24 on 3/20/21
Installment Loans
BMW $36.4K of $65.3K @ .99% (44.3% Paid)
Student Loans $32K of $66.65K @ 2.75% (51.93% Paid)
Annual Income ~ $110K
Message 5 of 308
Member

Re: Barclaycard Conversion Letter

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.

Message 6 of 308
Established Contributor

Re: Barclaycard Conversion Letter

OP—For what it’s worth, the conversion “should not” change the AoA. The product name may change, as well as APR, Rewards, etc., but the account opening date should remain the same. I think that’s consistent with what happens when a co-brand partner goes out of business and the bank card remains as an unbranded card. For you and others in your position, I hope this is the case. Please keep everyone posted on updates and any additional information.
Back In the garden June 2019 until TBD
FICO 8 Scores (Inquiries) May 29, 2019

Military Star - $8.7K | FCCU Platinum Signature VISA - $13K | Care Credit - $25K | Barclay AA Red MC - $5K | Best Buy Citi Visa - $3K | Cap1 Savor - $3.1K | USAA Signature VISA - $6K | PFCU Power Cash Rewards Signature VISA - $28.5K | CSR $15K | USAA AMEX - $12K | AMEX BCP - $35K | Chase Freedom Signature Visa- $7.5K | HSBC Rewards MC - $1.75K | CITI DC - $10.3K | Discover It - $16K | NFCU Cash Rewards Signature Visa - $10K | NFCU CLOC - $15K | TD Ameritrade Client Rewards Visa - $1.5K | Chase FU Signature $15K | Citi AA Plat MC $13K
AAoA 6 Yrs 10 Mos AoOA 16 Yrs 2 Mos AoYA 1 Mos
Currently 13/24
4/24 on 1/14/20
1/24 on 3/15/20
0/24 on 3/20/21
Installment Loans
BMW $36.4K of $65.3K @ .99% (44.3% Paid)
Student Loans $32K of $66.65K @ 2.75% (51.93% Paid)
Annual Income ~ $110K
Message 7 of 308
Highlighted
Established Contributor

Re: Barclaycard Conversion Letter

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?





Amex Platinum NSPL || Amex Everyday $10K || Amex BonVoy $16K || Aviator AA $7.6K || Citi AA $7.2K || Citi Costco $5.5K || NFCU CashReward $26K || Blispay $5K || Discover $10.8K || Paypal Credit $7.6K || VS card $4.1K || Walmart store $8.5K ||
Message 8 of 308
Member

Re: Barclaycard Conversion Letter

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.

Message 9 of 308
Member

Re: Barclaycard Conversion Letter


@alohawinn 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

Message 10 of 308
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