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Barclaycard Conversion Letter

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Valued Contributor

Re: Barclaycard Conversion Letter

In that case, you are probably protected by having a card that started as Sallie Mae.  That means Barclay must have two classes of Rewards cards:  those that were issued as Rewards (and these are sub-prime or near-prime), and those that started as premium cards and ended up as Rewards through a product change.

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 91 of 308
Valued Member

Re: Barclaycard Conversion Letter

Message 92 of 308
Frequent Contributor

Re: Barclaycard Conversion Letter


@Riopratap wrote:

https://www.americanbanker.com/news/citi-buys-15b-llbean-credit-card-portfolio-from-barclays

Looks like barclays is on all out sale


Now if they would just sell Uber to somebody I could do a PC with ....

Message 93 of 308
Senior Contributor

Re: Barclaycard Conversion Letter


@TXBlueBonnet wrote:

@Riopratap wrote:

https://www.americanbanker.com/news/citi-buys-15b-llbean-credit-card-portfolio-from-barclays

Looks like barclays is on all out sale


Now if they would just sell Uber to somebody I could do a PC with ....


LL Bean and Citi is old news from May: https://ficoforums.myfico.com/t5/Credit-Cards/LL-Bean-MasterCard-to-be-Issued-by-Citi/m-p/5249855

Most spend: CSR, CFU, BBP
Rewards/AAoA ballast: CF, Discover, Costco, ED, Arrival
Perks: Schwab Platinum, IHG49, Hyatt75, Brilliant, Delta Platinum
Potential closures/downgrades: Savor, BCP, Double Cash
Message 94 of 308
Moderator

Re: Barclaycard Conversion Letter


@UpperNwGuy wrote:

In that case, you are probably protected by having a card that started as Sallie Mae.  That means Barclay must have two classes of Rewards cards:  those that were issued as Rewards (and these are sub-prime or near-prime), and those that started as premium cards and ended up as Rewards through a product change.


If memory serves me correctly, yes, Barclays used to issue 2 completely different Rewards cards, one for rebuilding and the other was for good to excellent credit.

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- Rhonda Byrne

Message 95 of 308
Senior Contributor

Re: Barclaycard Conversion Letter


@gdale6 wrote:

@UpperNwGuy wrote:

In that case, you are probably protected by having a card that started as Sallie Mae.  That means Barclay must have two classes of Rewards cards:  those that were issued as Rewards (and these are sub-prime or near-prime), and those that started as premium cards and ended up as Rewards through a product change.


If memory serves me correctly, yes, Barclays used to issue 2 completely different Rewards cards, one for rebuilding and the other was for good to excellent credit.


"Rewards for Average Credit" IIRC?

Most spend: CSR, CFU, BBP
Rewards/AAoA ballast: CF, Discover, Costco, ED, Arrival
Perks: Schwab Platinum, IHG49, Hyatt75, Brilliant, Delta Platinum
Potential closures/downgrades: Savor, BCP, Double Cash
Message 96 of 308
Valued Member

Re: Barclaycard Conversion Letter

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 .

Message 97 of 308
Regular Contributor

Re: Barclaycard Conversion Letter

To add an extra DP...

I’ve had an Arrival+ WEMC and just received this letter. Ironically I got an auto-CLI about a month ago to almost double my SL (from 7k to 12k).

Haven’t quite figured out my plan of action yet but thinking of apping a new card and closing my Barclay account before the conversion date. I’ll hate losing the CL but I don’t need a cash back card with an annual fee. Nor do I like doing business with a bank I have no knowledge of.

OAN, not sure why they would convert a travel card to a cash back card but, shrug. Their loss.

Edit to add that my account was never a Rewards account.
In order of approval...
Fico Scores: EX 721 | EQ 723 | TU 719
Goals: Reduce util, obtain soft-pull CLIs and 720 across the board.
Message 98 of 308
Regular Contributor

Re: Barclaycard Conversion Letter

Got my letter today for my Arrival+ WEMC changing to Mercury WEMC.

 

Sucks .

 

For clarification the bank isn't Mercury.  The Bank is First Bank & Trust Brookings, SD.  The Card name is Mercury.

Message 99 of 308
Regular Contributor

Re: Barclaycard Conversion Letter


@goal_digger wrote:
To add an extra DP...

I’ve had an Arrival+ WEMC and just received this letter. Ironically I got an auto-CLI about a month ago to almost double my SL (from 7k to 12k).

Haven’t quite figured out my plan of action yet but thinking of apping a new card and closing my Barclay account before the conversion date. I’ll hate losing the CL but I don’t need a cash back card with an annual fee. Nor do I like doing business with a bank I have no knowledge of.

OAN, not sure why they would convert a travel card to a cash back card but, shrug. Their loss.

Edit to add that my account was never a Rewards account.

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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Message 100 of 308
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