Barclaycard Conversion Letter

[wasCB14]

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@Riopratap wrote:

I guess I will look for new card, I have Amex platinum pre approval . But annual fee of $550 I think is little bit high as 99 percent time I spend in New York. Might be next year when I have a lot of business travel.

Any suggestions ? Barclays card is big no no. Again they will sale to somebody else who knows. 

Already got capital venture, Amex bluecash, discover, capitone platinum,city simplicity, Chase business, Chase sapphire .

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LGA has a Centurion, but it's pre-security. JFK has two Skyclubs, and T4's is pretty nice. JFK T4 (Delta to SFO/SEA/LAX, several airlines internationally) will get a Centurion in 2019.

Platinum can be a great card for flying out of NYC, but airline choice and destinations matter.

[Riopratap]

Mine is also Arrival + WEMC that is sold to mercury.

[Jetboy]

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@Riopratap wrote:

Mine is also Arrival + WEMC that is sold to mercury.

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WOW.

I guess they have to sell off more accounts than they thought they had too...

[gdale6]

A hit to Barclays and other UK banks is most likely coming in what will most likely be a crash out Brexit, hence tightening up their cardholders.

[wasCB14]

No letter yet...but not looking good for me.

I have a barely-used $8k Arrival with Barclaycard reporting my FICO at 745.

[Anonymous]

Well, I got the letter today as well....So I logged in and closed my account. I'm not thrilled they sold my information to a finance company. I was also not too thrilled that I received the news from Mercury versus Barclay themselves. (I actually heard from friends at MF) 

[mxp114]

Can someone post the letter? Unless it has nothing useful in it.

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@goal_digger I am surprised they are doing this to some Arrival + WEMC accounts. I thought the Arrival cards was a premium card offering of Barclays and that none of them would have been considered to be sold off like this. If I get the letter I will let everyone know. Good luck with what everyone decides to do.

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I'm not surprised, the card was broadly offered with credit lines starting at $500 maybe even $200. Only the subprime and near-prime Barclays accounts are converting to Mercury Mastercard. This is similar to what HSBC did, when it sold the bulk of its accounts to Capital One. Now both HSBC and Barclays only service prime and super-prime.

[Riopratap]

I guess HSBC and Barclays are not us based bank so they have tendency to sale there customers. Better stick with US based bank credit cards. I will apply for Amex platinum business.

[FinStar]

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@Anonymous wrote:

Well, I got the letter today as well....So I logged in and closed my account. I'm not thrilled they sold my information to a finance company. I was also not too thrilled that I received the news from Mercury versus Barclay themselves. (I actually heard from friends at MF) 

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There's nothing that indicates the actual transition will be with a "finance company" (e.g. consumer finance entity).   It appears there's quite a bit of misinformation on the interwebs.

[Riopratap]

Barclays Bank should have informed all the customers in detail regarding this conversion.  All info we got it from mercury finance.