Should I Close Arrival?

sillykitty1 · ‎10-01-2014

I know the logical answer is yes ... but I have a soft spot for the card!

My AF just hit the account, so knowing the smart thing to do was to close my Barclay Arrival +, I app’d for the Fidelity Amex. I was approved for $12,500. So now I'm torn.

I don't spend enough to justify the AF. I will come out ahead by putting all my non category spend on the Fidelity Amex.

But I really like the way Barclay's does business and they way I've been treated by them. When I app’d for the Arrival a year ago I just had baddies drop off, so a very thin file. I was able to recon from a $800 initial CL to $5000, then auto CLI'd to $9,000 9 months later. I appreciate the accessibility to UWer's, and their ability to make judgment calls. It's also the only auto CLI I've received, so it's nice that the computer algorithms like my CR and spend pattern. I think the website is well designed and earning and redeeming rewards are clear cut. I love Trip It Pro (although free Trip It isn't a huge downgrade). I can transfer my CL to my Sallie Mae, so I won't lose the credit or access to my TU score.

So guess I feel like, they've been good to me, and I appreciate it. I want to keep the relationship positive in case they have any products in the future that will benefit me, So it doesn't feel "right" to take the bonus and run. But on the other hand I realize this is a giant corporation that doesn't have any feelings towards me, and I should do what's financially best for me.

The amount of time I've spent thinking about $89!

Thoughts? Opinions?

Anonymous · ‎10-01-2014

You'll still have a relationship with them through the SM card so its not like your walking away forever. If you cant justify the AF and dont have much use for the card then do what you feel is best. Maybe PC to the no AF version if thats possible? Thats if you want to keep it open and they allow the change.

Anonymous · ‎10-01-2014

Barclays is a great company to have a relationship with, they really take of you. To the extent of comingling their funds and yours!

http://online.wsj.com/articles/barclays-fined-62-million-by-u-k-s-fca-1411465747

(OK, cheap shot because it is the investment bank rather the US credit card division, but really, don't worry about their feelings!)

Anonymous · ‎10-01-2014

have tried calling'em and ask to waive AF or refund?

B335is · ‎10-01-2014

It's good to hear you've had a good relationship with Barclays, usually you hear about the doom and gloom Sir Barclays AA. It takes a decent amount of spend to offset the AF on Arrival+ after year 1. Most of us are in this to get the most bang for the buck and signup bonuses are a big part of that. Lots of people close this card after the first year and go on to have a meaningful relationship with Barclays, so I wouldn't let your positive experience with them deter you from making the best personal financial decision.

jsucool76 · ‎10-01-2014

I would either downgrade to the no annual fee arrival card, PC your card to something else, or transfer CL to your sallie mae card and close the arrival. All of which are very easy to do with Barclays.

sillykitty1 · ‎10-01-2014

Thanks everyone, I needed to hear that I should do what’s financially right for me.

I’ll call about an AF waiver now that it has hit, unlikely from what I’ve read on FT.

Does anyone know if I can transfer my entire CL to the SM, or is there a minimum that must remain on the card and gets lost during the closing (like Amex’s $500 rule)?

b_diddy · ‎10-01-2014

@sillykitty1 wrote:
I know the logical answer is yes ... but I have a soft spot for the card!

My AF just hit the account, so knowing the smart thing to do was to close my Barclay Arrival +, I app’d for the Fidelity Amex. I was approved for $12,500. So now I'm torn.

I don't spend enough to justify the AF. I will come out ahead by putting all my non category spend on the Fidelity Amex.

But I really like the way Barclay's does business and they way I've been treated by them. When I app’d for the Arrival a year ago I just had baddies drop off, so a very thin file. I was able to recon from a $800 initial CL to $5000, then auto CLI'd to $9,000 9 months later. I appreciate the accessibility to UWer's, and their ability to make judgment calls. It's also the only auto CLI I've received, so it's nice that the computer algorithms like my CR and spend pattern. I think the website is well designed and earning and redeeming rewards are clear cut. I love Trip It Pro (although free Trip It isn't a huge downgrade). I can transfer my CL to my Sallie Mae, so I won't lose the credit or access to my TU score.

So guess I feel like, they've been good to me, and I appreciate it. I want to keep the relationship positive in case they have any products in the future that will benefit me, So it doesn't feel "right" to take the bonus and run. But on the other hand I realize this is a giant corporation that doesn't have any feelings towards me, and I should do what's financially best for me.

The amount of time I've spent thinking about $89!

Thoughts? Opinions?