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Barclaycard Conversion Letter

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Frequent Contributor

Re: Barclaycard Conversion Letter


@Riopratap wrote:

Barclays has sold my arrival plus master card with 8k limit and zero balance and my utilization is less then 1 percent since last 1 year to mercury card. I called barclay and they say my card has not been sold to mercury.

, but I got a letter from mercury  that yes my account has been sold to them. I have 790 plus credit score since a year now, no negative or derogatory marks in credit history , I told mercury I don’t want card from them, they told me contact barclays card , barclays says my account is not sold. So weird.


As long as charges don’t go to both companies!

 

Message 71 of 308
Frequent Contributor

Re: Barclaycard Conversion Letter

Or the annual fee being charged twice

Message 72 of 308
New Visitor

Re: Barclaycard Conversion Letter

Just received my letter in the mail today 8/6/2018. I have the Barclay Arrival card. Letter states same terms and CL as the old card. They just finally increased my CLI a few months ago, too. I'm thinking about applying for another Barclay card and trying to convert this one to it before the Sept 4th deadline.

Message 73 of 308
Established Member

Re: Barclaycard Conversion Letter

I am on the phone with Barclay listening to gold music while writing this. A CSA is now transferring me to a manager because I told him his robot responses don’t resolve my concerns. I was told that not all rewards card holders were sold off, I was told that our Barclay reporting accounts will in fact be closed and not transferred over, I was told that this new company will be a newly reported line item on our reports. I was then told “don’t worry this will have no effect on your credit report” My response? ILLOGICAL BULL$HIT! So I asked the CSA to logically explain to me how closing an aged account and opening a brand new account does not have a negative score consequence! I also asked how experienced he was with how credit scores work (with him being in India surely he can’t have that much knowledge) and he actually agreed with me.... ok I’m back! Just got off the phone with the manager she advised me that the CSA was wrong, that the entire line item will be converted and all account information regarding age/ date / history will remain the same. I told her I want to close my account today unless she can fufill my request that this is to be sent to me in writing to me to avoid any unexpected surprises. She obliged and told me to expect the letter within 7 days. Apparently they are willing to do whatever it takes to stop the bleeding on their end. I’ll assume people who are closing their accounts before this transistion occurs costs Barclay a lot of money. Only time will tell what the credit universe has planned for our Barclay / Mercury destiny! I’ll post a picture of the letter when it arrives. ✌🏼
Message 74 of 308
Valued Contributor

Re: Barclaycard Conversion Letter


@tonyg561 wrote:
I am on the phone with Barclay listening to gold music while writing this. A CSA is now transferring me to a manager because I told him his robot responses don’t resolve my concerns. I was told that not all rewards card holders were sold off, I was told that our Barclay reporting accounts will in fact be closed and not transferred over, I was told that this new company will be a newly reported line item on our reports. I was then told “don’t worry this will have no effect on your credit report” My response? ILLOGICAL BULL$HIT! So I asked the CSA to logically explain to me how closing an aged account and opening a brand new account does not have a negative score consequence! I also asked how experienced he was with how credit scores work (with him being in India surely he can’t have that much knowledge) and he actually agreed with me.... ok I’m back! Just got off the phone with the manager she advised me that the CSA was wrong, that the entire line item will be converted and all account information regarding age/ date / history will remain the same. I told her I want to close my account today unless she can fufill my request that this is to be sent to me in writing to me to avoid any unexpected surprises. She obliged and told me to expect the letter within 7 days. Apparently they are willing to do whatever it takes to stop the bleeding on their end. I’ll assume people who are closing their accounts before this transistion occurs costs Barclay a lot of money. Only time will tell what the credit universe has planned for our Barclay / Mercury destiny! I’ll post a picture of the letter when it arrives. ✌🏼

Good for you! I closed mine and move my CL to my Uber.  I will not deal with a bank i have no knowledge of.




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 75 of 308
Established Member

Re: Barclaycard Conversion Letter

Your lucky, If I had another Barclay card I would do the same. This card, their website, and app look like 1985 and something you apply for at a check cashing store lol. My past 3 cards all visa sig and infinite with big boy CL’s I’m only rolling with this bc it’s one of my oldest cards ($0 balance - 1.5k CL) to keep my account age/ history in tact. I assume many of us are in that same boat! This Barclay card def helped me establish my credit and I’m thankful for that but believe me I’ll never lay in bed with them again, thankfully I’ll never need to! Hahaha
Message 76 of 308
Moderator Emeritus

Re: Barclaycard Conversion Letter

tonyg561 ... bravo for taking the "bull by the horns" and not letting go!!! Maybe if a few more people got through to someone in management the effects of their actions might sink in (or not). I closed my Barclay Commence MasterCard and walked last March 2017 as it had no use. Actually thought the Barclays Rewards Card had a use Smiley Mad My bad!

Starting Score: 000
Current Score: 850
Goal Score: 850


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Message 77 of 308
Valued Member

Re: Barclaycard Conversion Letter

I talked to mercury people , told me max credit limit is $5000, currently I have 8000 credit limit , mercury credit card or first bank whatever is just joke

Message 78 of 308
Valued Member

Re: Barclaycard Conversion Letter

Wow. So will they be decreasing your limit or no longer providing increases since you're over the limit? Btw, I closed mine. Didn't have another Barclaycard to transfer to so I said close it. I don't like surprises.
Message 79 of 308
New Visitor

Re: Barclaycard Conversion Letter

I also got same letter today with last 4 digits not being an account I own. 🤔
Message 80 of 308
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