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Barclaycard Conversion Letter

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Regular Contributor

Re: Barclaycard Conversion Letter

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.
Message 31 of 308
Regular Contributor

Re: Barclaycard Conversion Letter

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. 







Message 32 of 308
Regular Contributor

Re: Barclaycard Conversion Letter


@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. 


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.

Message 33 of 308
Valued Contributor

Re: Barclaycard Conversion Letter


@kmyrick 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.

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.

Chase Sapphire Reserve • PenFed Power Cash Rewards • and five cards in the sock drawer

No CC debt • No bonus chasing • No app sprees • No gift cards • No AZEO • No airline incidentals • No hotel cards • No store cards • No business cards • No authorized users
Message 34 of 308
Regular Contributor

Re: Barclaycard Conversion Letter

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.



Current Scores 10/11/2019
TU 724, EX 699, EQ 787 UTL 3% FICO 9 757
[Previous] 10/05/2018
EQ F8 [696] 5 Inqs, EX F8 [666] 14 Inqs,
TU Fico 8 [702] 18 Inqs.
Gardening since 11/08/2018.
EQ-Fico 8 [699] EX-Fico 8 [639] TU-Fico 8[652]
UTI 14% NFCU Flagship $6K, Care Credit $20K, TFCU Platinum Visa $8K, DCU Rewards Visa 10K, USAA Platinum Visa 6K, Costco Visa $5.5K, NFCU AMEX $15K, Wells Fargo Cash Wise 9.5K, Barclays AAdvantage MC $2K, NFCU GoRewards 10K, Home Depot Commercial $1k, Best Buy Visa $10k, ExxonCard $1500, PenFed Visa Sig $10k, NFCU CLOC $10K, Boscov's $13.3K, Overstock $12.5k, Sportmans $3900, Amex Cash Magnet $1500, Amex Bonvoy 2K, BarClay Arrival $2k, DiscoverIT $16k, AmazonCard $5000, PayPal MC 8K, Mercury MC $5.5K, CapOne Silver $16.5K, Lowes Credit $25K, Wal-Mart Store Card $9K, Wayfair $14.4K
Message 35 of 308
Member

Re: Barclaycard Conversion Letter

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.
Message 36 of 308
Member
Message 37 of 308
Regular Contributor

Re: Barclaycard Conversion Letter


@LaneM818 wrote:
https://www.google.com/amp/s/www.mystatesman.com/business/austin-credit-shop-grows-into-major-player...

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 😁.

Message 38 of 308
Member

Re: Barclaycard Conversion Letter

...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.
Message 39 of 308
New Visitor

Re: Barclaycard Conversion Letter

I just spoke to Barclays, They said they’ve been getting these calls for quite a bit and it’s a scam
Message 40 of 308
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