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.
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.
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.
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 😁.