They're possibly just a relic of old Money, these days new Money seem to buying very different products?
IMO even if you have the kinda money to shop at barney's you are wasting it as way over priced. Nordstrom's is bad enough for stuff not on sale and I am pretty picky on clothing. They obviously aren't catering to the correct market or wouldn't be going through BK...
I did not think the purple dinosaur had a store let alone a credit card. Goes to show how little time I spend in NYC. I say out with the old and in with the new since it seams like they were selling overpriced hype.
This is also why you should never count on the store cards for "padding". Barney's handed out mega limits over time, and if your utilization was higher, or borderline like 10-15%, and you lose a $30K line....that could mean disaster for some.
I had Barney's myself, and closed it a few years ago. I knew it was a matter of time before this would happen. I saw the writing then, and there was already talks of BK too a few years ago.
I remember you posting about that Barney's mega limits. Never tempted for anything from Comenity - I have two Barclays cards, one flaky lender is more than enough. I dutifully stop by a Lowes store twice a year to buy a garden hose or potted plant to keep my $15k CL good.
They're closing the store in Beverly Hills as well.. and looks likethey're running out of market. I used to do shopping there but for us ( ppl from myfico) I do not thik we will be affected cuz we know how to play around