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Barclaycard Conversion Letter

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Moderator Emeritus

Re: Barclaycard Conversion Letter

Interesting that the First Bank & Trust out of Brookings, South Dakota owns the rights to the Mercury MasterCard. They have a five star rating by Bauer FInancial which is the highest rating there is. Appears that they are contracting out the Credit Card Operations to the Card Services in Columbus GA. First Bank & Trust offers their own Visa Gold Rewards and Visa Signature Rewards Cards under their own bank name with Aprs 14.24% to 24.24%. They have been expanding their banking activities into other states and it appears they are privately held by a family that started them back in the 1800's.

 

Suspected they were buying the lower quality profiles from Barclay's but, in reading this thread and looking at their background, it may be a solid family bank expanding into a larger credit card role.

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Current Score: 847
Goal Score: 850


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Message 21 of 308
Frequent Contributor

Re: Barclaycard Conversion Letter

I just got a letter, today, too, from Mercury. I have a Rewards Mastercard that I’ve had since 2015 when my credit was in much worse shape.

There’s a balance of a few hundred dollars on it at the moment. I guess it’s time to pay off and sock drawer—minus a transaction here or there.
Message 22 of 308
Mega Contributor

Re: Barclaycard Conversion Letter

https://www.prweb.com/releases/2018/05/prweb15489746.htm says that Mercury is aiming to serve the 575-675 score section.

 

Not clear that the replacement card offers rewards.

Message 23 of 308
Established Member

Re: Barclaycard Conversion Letter

I got the same letter this morning. Can confirm no lates, no high utilization. It seems barclay has dumped the entire card portfolio.

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Navy Fed Amex 20k | Navy Fed CashRewards 9.5k | Cap1 Quicksilver 4.2k | Cap1 VentureOne 6k | Discover iT 2.3k | Barclay Reward 500
Message 24 of 308
Moderator Emeritus

Re: Barclaycard Conversion Letter


@longtimelurker wrote:

https://www.prweb.com/releases/2018/05/prweb15489746.htm says that Mercury is aiming to serve the 575-675 score section.

 

Not clear that the replacement card offers rewards.


When you look back at Barclays ... my recall was that the Barclay Rewards MasterCard was for the lower credit score range as set forth in the posting. Fits and MyFicoer's can bask in the knowledge they were in the lower end of the credit scale. How many MyFicoer's have moved up the credit scale and really outgrown the credit range of the new Mercury MasterCard? In reading and observing on this forum ... many! Smiley Surprised

Starting Score: Unk
Current Score: 847
Goal Score: 850


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Message 25 of 308
New Member

Re: Barclaycard Conversion Letter

Got the same letter today.
Just praying the age of my account stays correct.
I carry a balance every other month
Had the card since 2014 I believe.
Message 26 of 308
New Visitor

Re: Barclaycard Conversion Letter

I just got my letter from Murcury today. I have to say i am both not happy and happy with this. I loved the fact that I had a barclay card but I am hoping that maybe Mercury will allow credit limit increases.
Message 27 of 308
Valued Member

Re: Barclaycard Conversion Letter

Just received the letter today. I got the Rewards card back in 2015 when my score was around 675. I'm now in the high 700's, no lates, 0 balance. I only use the card for gas every few months. I'm going to close this card as I have cards with much higher limits and better APR and this isn't my longest card. I don't want to be switched to another bank.
Message 28 of 308
Member

Re: Barclaycard Conversion Letter

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.
Message 29 of 308
Mega Contributor

Re: Barclaycard Conversion Letter


@Dinosaur wrote:

Interesting that the First Bank & Trust out of Brookings, South Dakota owns the rights to the Mercury MasterCard. They have a five star rating by Bauer FInancial which is the highest rating there is. .


Yes, but the rating is about the banks financial stability rather than anything else (and is thus perhaps more critical to people with deposit accounts rather than a credit card!)

Message 30 of 308
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