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Barclays adverse action

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trant3
Established Contributor

Barclays adverse action

Sooo just encountered my first account closure by a lender. Barclays decided to close my plain rewards card (OG Sallie Mae) after the new year. No letter received yet but I suspect due to no use. I have not used it in 2 years so I dont blame them. I did keep the card for sentimental value since it was one of my first cards obtained during my rebuild years ago. Oh well, on to the next one. 

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Message 1 of 6
5 REPLIES 5
soxfaininfl
Frequent Contributor

Re: Barclays adverse action

I have 18 accounts, and I always make sure I put a small spend on the ones I don't use every 6 months so this doesn't happen. Sorry to hear this happend to you OP. What was your limit on this card? Was it 7.5K? I see one Barclays in your signature.









Message 2 of 6
red259
Super Contributor

Re: Barclays adverse action


@trant3 wrote:

Sooo just encountered my first account closure by a lender. Barclays decided to close my plain rewards card (OG Sallie Mae) after the new year. No letter received yet but I suspect due to no use. I have not used it in 2 years so I dont blame them. I did keep the card for sentimental value since it was one of my first cards obtained during my rebuild years ago. Oh well, on to the next one. 


Yea two years of non-use is what got my BoA closed. They specifically pointed out in their letter that it has been over two years. To be honest I am not even sure where that card was. Probably somewhere in the bottom of the drawer. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 3 of 6
M_Smart007
Legendary Contributor

Re: Barclays adverse action

Two years is a while to go without use, I have heard some will close in just a little over 1 year.

Message 4 of 6
JR_TX
Valued Contributor

Re: Barclays adverse action

At least they gave you 2 years. They would send DW letters of closure every 6 months of non-use. DW wants to keep them (2) for sentimental value as well so it's costing us some pizza and wings just to keep 'em open! 😜

New cc TLs : 0/6 ; 0/12 ; 0/24 | HPs EX 0 EQ 1 TU 1 | AAoA 7y7m | UTIL 1% - 3% | $300K+ Total Limits

Message 5 of 6
wasCB14
Super Contributor

Re: Barclays adverse action

I've heard of Barclays sometimes closing in as little as 6 or 9 months and without any "use it or lose it" warning letter.

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Message 6 of 6
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