Got a Black Card Invitation

[Anonymous]

I recieved a pre-selected offer from Barclays for their black card. It has a $495 AF plus $195 for AU's. The apr is over 13% and in small writing they say "based on credit review they will assign a generous credit limit not less then $250......Are they serious?????

[BungalowMo]

hahahaha.... as if you should be HONORED!!!

Depending on your credit, the AF could put you OVER the limit immediately!  WTF????

[Jazzzy]

Hi Brian,

We've had a lot of reports here about these invites. My son-in-law got one a while back. I don't know what he makes for sure...but I know for sure it's not very much. He's not even 30 y/o yet. Just bought their first house. Just starting to get established.

I don't know what the qualifications are to earn the privilege of paying that $495 AF...but it doesn't seem the mailed invites are all that exclusive.

[Anonymous]

Yeah, I didnt know if this was some sub prime card or what. I did get declined for 2 cards for too many inq's and thought maybe barclays buys a list of denials to offer this sub prime card or something, I dunno! My score are pretty good so I didnt think it was going off that, IDK???

[Red1Blue]

My DW got an invitation in the mail.

[Anonymous]

I have heard of AMEX Platinum approvals that only allowed a $1000 initial spending limit.

[Anonymous]

This particular credit offering has been widely discussed and is pretty much of a sad joke. I have no clue who could benefit from holding it. Why does Barclays even bother with this?

[Anonymous]

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@Anonymous wrote:
This particular credit offering has been widely discussed and is pretty much of a sad joke. I have no clue who could benefit from holding it. Why does Barclays even bother with this?

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I think most of it is driven by vanity. YEARS AGO, there were just "credit cards".  I can remember when the first "GOLD" cards were being introduced. WOW, so much prestige. 

 In 1971 I received a letter from BANKAMERICARD, telling me since I was such a "VALUABLE CUSTOMER" I was receiving their new "Starred card" (It had a little raised star embossed on it)  This meant I could charge $100 and the merchant would not have to call it in for approval. OH and they even RAISED my credit limit to an astronomical $750.

Remember when "PLATINUM" Cards started being issued??  SUCH PRESTIGE. Well, now every "sub prime" bank issues "PLATINUM CARDS" as their "rebuilders".

It is easy to sell VANITY, much harder to sell responibility.

Frankly, I am sure many people will sign up for this.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
This particular credit offering has been widely discussed and is pretty much of a sad joke. I have no clue who could benefit from holding it. Why does Barclays even bother with this?

---

I think most of it is driven by vanity. YEARS AGO, there were just "credit cards".  I can remember when the first "GOLD" cards were being introduced. WOW, so much prestige. 

 In 1971 I received a letter from BANKAMERICARD, telling me since I was such a "VALUABLE CUSTOMER" I was receiving their new "Starred card" (It had a little raised star embossed on it)  This meant I could charge $100 and the merchant would not have to call it in for approval. OH and they even RAISED my credit limit to an astronomical $750.

Remember when "PLATINUM" Cards started being issued??  SUCH PRESTIGE. Well, now every "sub prime" bank issues "PLATINUM CARDS" as their "rebuilders".

It is easy to sell VANITY, much harder to sell responibility.

Frankly, I am sure many people will sign up for this.

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Go to the CapOne Card Builder and upload your own Black Card design!  Presto, a black card with no annual fee (or the annual fee you are all ready paying if you have one)!

lol  

[BungalowMo]

Or....just use this on your current card! 

Much cheaper at $1.89