Barclaycard Conversion Letter

[Eagered2succeed]

Seems like ever single person who still has a Barclays rewards card will be converted every as I received the letter today like everyone else. Based on the letter everything including rewards structure and interest will stay the same just the financial institution changing. Really hope the texture of the account stays the same since I know Barclay won't allow any pic especially with the card soon to be converted next month.

[grower1]

I just received the same letter. My Barclay's Reward Card is due to be converted on September 24th. I have a zero balance on the card. I'm considerering closing the card to avoid a relationship with a bank I've never heard of. 

[Eagered2succeed]

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@grower1 wrote:

I just received the same letter. My Barclay's Reward Card is due to be convered on September 24th. I have a zero balance on the card. I'm considerering closing the card to avoid a relationship with a bank I've never heard of. 

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Kinda thinking the same. Just wish there was more info out there about this company and if they had better cards to product change to. I would hate to lose a trade line so old(I know it stays 10 years after closing) my but then again my aaoa is so padded that it wouldn’t matter. Hate not knowing what’s to come.

[UpperNwGuy]

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@Anonymous wrote:
Got my letter today. My scores are well above the range posted earlier and my acct is 4 years old and a couple of docents auto limit increases along the way. 200 balance and used 1-2 a month to keep activity on it. I'm excited as the new bank mercury is working with is a great organization and really good to its customers. Time will tell and curious to see if they also take over my Hawaiian airlines Mastercard issued by Barclays.

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Please give us more information about Mercury being a great organization.  You seem to be the only one who knows anything about it.

By the way, when a bank sells a portfolio of credit cards, all the cards of that type are sold at once.  They don't cherry pick based on credit score.

[Anonymous]

I received this letter yesterday as well. This is one if my oldest accounts. I started my rebuild 5 years ago and this card was a major score for me that time. Not happy. I have the AAvantage MC snd Arrival + as well.

[Anonymous]

Yep, I’m done. Paying my small balance that I charge to just keep active and closing. Never cared for the way Barclays opearates anyway. Mid 700’s FICO and it was like pulling teeth for a cli and apr reduction.

[Anonymous]

https://www.google.com/amp/s/www.mystatesman.com/business/austin-credit-shop-grows-into-major-player...

[Eagered2succeed]

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@Anonymous wrote:
https://www.google.com/amp/s/www.mystatesman.com/business/austin-credit-shop-grows-into-major-player-credit-card-industry/WrXHjwPBAuWDDbO8KLiaCN/amp.html

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Wow very nice read. Really puts in prospective what's happening and why. Feel a little better knowing that Barclay selling off the accounts was more of a requirement than a choice. Kinda has me curious to see how this transition will go as I feel having more financial institutions in the credit game being a good thing for consumers.  Thanks again for the article 😁.

[Anonymous]

...and get this. Per Barclays you cannot stop the conversion even if you close your account. I was given an 866 number to call Mercury to try and stop it. Office hours only Monday through Friday and was a hassle to attempt to even get to the point of getting a rep transfer. Was also told by Barclays it would not affect credit score on conversion as it will retain history etc. IDC! I’m stopping the whole shebang somehow.

[Anonymous]

I just spoke to Barclays, They said they’ve been getting these calls for quite a bit and it’s a scam