@FinStar wrote:
Barclays product policies are just strict, that's all. Here's the issue, before the Card Act, you could switch versions, you could switch products, you could downgrade or upgrade (AF or non-AF). Post the enactment period, only certain product families could be PC'd.
Bottom line is, if you were/are approved for a Platinum version of any Barclays product, it stays Platinum for the rest of its account history - regardless if you receive any CLIs that would place it above other comparable cards that would qualify for either Visa Signature or WMC versions. By the same token, if you have a Visa Signature or WMC (especially products with AFs) you cannot downgrade to a non-AF product or version.
In rare instances, if you are approved and fall shy of the CL and WMC/ Visa Signature version threshold, a few have encountered some success but it has to be reviewed by an underwriter within 24-48 hours from approval to be considered, and provided you qualify. Otherwise, Platinum it is. It is not unusual, although silly, for folks to have two of the same products in two versions.
Otherwise, the only possible PCs would be to other elegible products (i.e. Ring to Arrival, partner cards to Arrival, etc). The AMEX version cannot be PC'd to Visa or MC.
The Card Act shouldn't block customer initiated changes but some issuers have decided it does. PC restriction has to do with specific contractual agreements in place with issuers that stipulate they cannot for example product change outside a family of products. Citi allows AA to TY but Chase doesn't allow UA to Disney, AmEx allows Delta to Blue, etc.
Also Barclays does allow PC from AF to non-AF products but it's a retention offer and those offers vary. There is a no AF US Airways product you can be changed into as a save offer. The only way to find out is if you call to see what save offers are available.
@FinStar wrote:
Correct, it was not implied that the Card Act "forced" them to do so. Barclays and other lenders revised their own internal (stricter) policies to adhere (indirectly) with some of those regulatory changes.
Additionally, their retention department determines the AF/non-AF stipulations since it is a YEMV situation and not all AF/non-AF products are elegible for PC.
I think it was implied and since your wording doesn't specify, I decided to add the additional information for further clarity.
Yeah I made it clear it is YEMV but you said it cannot be done and I pointed out that it can be done. I also provided a specific example of downgrading an AF based WMC into a fee-free WMC product. So while everyone may not qualify, it certainly can be done with Barclays. In December, I bet they will also allow it with Arrival as a way to save an account from closing.