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What is your opinion on Barclays Cash Forward card?

c00mtg
Valued Contributor

Re: What is your opinion on Barclays Cash Forward card?


@donny10 wrote:

@Subexistence wrote:

Should I close it before the CLD? I hear lenders base SL on other limits and 3k is my highest SL yet so far.


I would, and did. I used my for the bonus. I had a 6k limit. After reading multiple stories of them CLD people. I imposed AA against Barclay by closing my Cash Foward and Ring Cards.

 

I got them before they got me. And others have done the same,

 

 


It can be fustrating when Barclay does this, but i dont necessarily agree on "i got them before they got me" (IMO).  I always think ahead:

 

1. The HP will be there now for 2 years.  Was it really worth it for just the bonuses then close it? IMO, no.

2. Barclay is not closing the card, just decreasing the CL.  AND again, this doesn't happen to everyone.  Barclay might be looking at some factors/bahavior on the person's profile that we still do not know about.  Generally, if something bad is going on on your profile, of course a lender is going to react, remember they're banks and they're looking out for THEM.  If you're doing good with your credit, you have nothing to worry about.

3. If one doesn't have other Barclay cards, this is a good way to build a relationship and show them you can but trusted.

4. It's not going to kill you to leave it open to help on UTL

5. Should you apply for another Barclay CC in the future, you could always close this and move the CL into the new card. I did this with two Barclay cards, i moved the CL from both into my arrival +, did a BT, paid to $0 and no issues since then.  Currently at $9.5k CL.

6. No AF

 

Again, this is what I would do Smiley LOL




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 21 of 35
Anonymous
Not applicable

Re: What is your opinion on Barclays Cash Forward card?

Congrats OP and best of luck with Barclays. Based on everything I've heard, there are exactly two lenders that I will for all foreseeable future by staying away from: Barclays and Synchrony.

Message 22 of 35
nikokonto
Frequent Contributor

Re: What is your opinion on Barclays Cash Forward card?

I have this card, you lose that bonus because after you redeem it gets put in your rewards but you can't withdraw it until you hit $50 again, so its great for barclays and the person who marketed the idea, basically forcing perpetual use which if you use it that way great.

 

I use it for the decent balance transfer offers since it has a 5k line its not really that great for BTs either but small ones work when needed.

Starting Scores 8/24/14 FICO TU:507 EQ:500
Scores as of 1/1/2016 FICO TU:633 EQ: 622
Scores as of 1/1/2017 FICO TU:759 EX:693 EQ:694
Scores as of 1/1/2018 FICO TU: 751 EX: 739 EQ: 735
Scores as of 1/1/2019 FICO TU: 786 EX: 801 EQ: 796
Message 23 of 35
donny10
Senior Contributor

Re: What is your opinion on Barclays Cash Forward card?


@c00mtg wrote:

@donny10 wrote:

@Subexistence wrote:

Should I close it before the CLD? I hear lenders base SL on other limits and 3k is my highest SL yet so far.


I would, and did. I used my for the bonus. I had a 6k limit. After reading multiple stories of them CLD people. I imposed AA against Barclay by closing my Cash Foward and Ring Cards.

 

I got them before they got me. And others have done the same,

 

 


It can be fustrating when Barclay does this, but i dont necessarily agree on "i got them before they got me" (IMO).  I always think ahead:

 

1. The HP will be there now for 2 years.  Was it really worth it for just the bonuses then close it? IMO, no.

2. Barclay is not closing the card, just decreasing the CL.  AND again, this doesn't happen to everyone.  Barclay might be looking at some factors/bahavior on the person's profile that we still do not know about.  Generally, if something bad is going on on your profile, of course a lender is going to react, remember they're banks and they're looking out for THEM.  If you're doing good with your credit, you have nothing to worry about.

3. If one doesn't have other Barclay cards, this is a good way to build a relationship and show them you can but trusted.

4. It's not going to kill you to leave it open to help on UTL

5. Should you apply for another Barclay CC in the future, you could always close this and move the CL into the new card. I did this with two Barclay cards, i moved the CL from both into my arrival +, did a BT, paid to $0 and no issues since then.  Currently at $9.5k CL.

6. No AF

 

Again, this is what I would do Smiley LOL


You don't have to agree. It's a fact, I got them before they got me.

 

Reason being? There were about 4 or 5 additional cards I wanted to get and use, and Barclays would have pulled a temper tantrum because they knew I was going to cheat on them and date others even though they knew it would be an open relationship. They would have pulled an additional hissy fit for additional inquiries they would find out about by spying on me. Ultimately they would become ultra jealous and impose AA.

 

Plus I got sick and tired of worrying about being friends with others and having to check the accounts everyday for AA.

 

 

Message 24 of 35
Subexistence
Established Contributor

Re: What is your opinion on Barclays Cash Forward card?


@c00mtg wrote:

@Subexistence wrote:

Should I close it before the CLD? I hear lenders base SL on other limits and 3k is my highest SL yet so far.


It depends...

 

what's your CL? sorry if i missed that

 

They won't close it, they might decrease your CL; remember, this doesn't happen to EVERYONE.  But if you want to keep it to help with your UTL, you could.  Maybe spend a few bucks here and there to keep it active.  IF you close it, it will show on your report for up to 10 yrs, so AAOA won't be affected.

 

Should you want to build a better relationship with them, help your UTL and keep history for future cards AND if it has no AF, i would keep it.


My CL is 3k which is highest SL I have ever received.








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Message 25 of 35
wasCB14
Super Contributor

Re: What is your opinion on Barclays Cash Forward card?

In the last JD Power survey of customer satisfaction...

 

Issuer performance out of 1000, from best to worst:

 

871 - USAA (by some margin)

835 - Amex

827 - Discover

814 - Regions Bank

808 - Capital One

806 - Barclaycard

797 - BB&T

796 - Chase

795 - BofA

794 - US Bank

791 - Citi

788 - Fifth Third

775 - Wells Fargo

774 - BMO

768 - Synchrony

763 - Citizens

758 - KeyBank

756 - HSBC

735 - Credit One

 

I don't think the first three will surprise anyone. I'm surprised that US Bank did so poorly...and it can be easy to forget that Chase has a lot of customers without premium cards.

 

But if these CLDs were really very common, Barclaycard probably would have done much worse.

 

That said, I don't think the CashForward card really offers much outside of a mediocre bonus (unless you're one of the lucky few to get frequent promos for extra points).

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 26 of 35
c00mtg
Valued Contributor

Re: What is your opinion on Barclays Cash Forward card?


@donny10 wrote:

@c00mtg wrote:

@donny10 wrote:

@Subexistence wrote:

Should I close it before the CLD? I hear lenders base SL on other limits and 3k is my highest SL yet so far.


I would, and did. I used my for the bonus. I had a 6k limit. After reading multiple stories of them CLD people. I imposed AA against Barclay by closing my Cash Foward and Ring Cards.

 

I got them before they got me. And others have done the same,

 

 


It can be fustrating when Barclay does this, but i dont necessarily agree on "i got them before they got me" (IMO).  I always think ahead:

 

1. The HP will be there now for 2 years.  Was it really worth it for just the bonuses then close it? IMO, no.

2. Barclay is not closing the card, just decreasing the CL.  AND again, this doesn't happen to everyone.  Barclay might be looking at some factors/bahavior on the person's profile that we still do not know about.  Generally, if something bad is going on on your profile, of course a lender is going to react, remember they're banks and they're looking out for THEM.  If you're doing good with your credit, you have nothing to worry about.

3. If one doesn't have other Barclay cards, this is a good way to build a relationship and show them you can but trusted.

4. It's not going to kill you to leave it open to help on UTL

5. Should you apply for another Barclay CC in the future, you could always close this and move the CL into the new card. I did this with two Barclay cards, i moved the CL from both into my arrival +, did a BT, paid to $0 and no issues since then.  Currently at $9.5k CL.

6. No AF

 

Again, this is what I would do Smiley LOL


You don't have to agree. It's a fact, I got them before they got me. I was speaking in general...just saying there are other approaches than just dumping them.

 

Reason being? There were about 4 or 5 additional cards I wanted to get and use, and Barclays would have pulled a temper tantrum because they knew I was going to cheat on them and date others LOL, love how you put it Smiley Very Happy even though they knew it would be an open relationship. They would have pulled an additional hissy fit for additional inquiries they would find out about by spying on me. Ultimately they would become ultra jealous and impose AA.

 

Plus I got sick and tired of worrying about being friends with others and having to check the accounts everyday for AA.

 

 


 




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 27 of 35
SunriseEarth
Moderator Emeritus

Re: What is your opinion on Barclays Cash Forward card?

I think it's worth going for if you get the targeted $200 spend offer.   For their standard $100 offer, I think you're better off getting QS.   Barclay has a good rewards programs in terms of how quickly rewards post, but the $50 threshold for rewards redemption is, IMHO, excessive for CashForward (Citi DC has a $25 threshold and Cap One QS has none).  



Start: 619 (TU08, 9/2013) | Current: 798 (TU08, 8/2/21)
AMEX Cash Magnet $64000 | Discover IT $46000 | BofA BBR #1 $43900 | BoA BBR #2 $31100 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Sony Card VS $23750 | GS Apple Card WEMC $20000 | Freedom Flex WEMC $20000 | Cap 1 QS WMC $17250 | Disney VS $15000 | FNBO Evergreen VS $15000 | Target MC $14000 | WF Active Cash VS $12,000 | Citi Custom Cash MC $11600 | Jared Gold Card $11000 | Amazon VS $10000 | AARP VS $8800 | Cash Back World WMC $3000 | ~~
Message 28 of 35
SunriseEarth
Moderator Emeritus

Re: What is your opinion on Barclays Cash Forward card?


@Subexistence wrote:

Do any of you guys happen to know if getting the $200 from $1000 spend counts in the threshold? Also I don't have to withdraw in incremements of $50 like Amex right? I could withdraw anytime I have over $50 right?

 

Ideal situation is get the $200 to get above $50 threshold then use it as my main driver until I get a 2% card. After I get 2% card, then redeem my rewards then SD Cashforward card.


Yes, it counts in the threshold, since they aware the spend bonus as points.   Perhaps more accurately, you have to have 5000 points or over to redeem.   And no, you don't need to redeem in increments.   AMEX requires that, which is why I don't use my BCE for groceries (or much of anything, these days).



Start: 619 (TU08, 9/2013) | Current: 798 (TU08, 8/2/21)
AMEX Cash Magnet $64000 | Discover IT $46000 | BofA BBR #1 $43900 | BoA BBR #2 $31100 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Sony Card VS $23750 | GS Apple Card WEMC $20000 | Freedom Flex WEMC $20000 | Cap 1 QS WMC $17250 | Disney VS $15000 | FNBO Evergreen VS $15000 | Target MC $14000 | WF Active Cash VS $12,000 | Citi Custom Cash MC $11600 | Jared Gold Card $11000 | Amazon VS $10000 | AARP VS $8800 | Cash Back World WMC $3000 | ~~
Message 29 of 35
wasCB14
Super Contributor

Re: What is your opinion on Barclays Cash Forward card?


@SunriseEarth wrote:

I think it's worth going for if you get the targeted $200 spend offer.   For their standard $100 offer, I think you're better off getting QS.   Barclay has a good rewards programs in terms of how quickly rewards post, but the $50 threshold for rewards redemption is, IMHO, excessive for CashForward (Citi DC has a $25 threshold and Cap One QS has none).  


I'm usually one to say that if a minimum redemption threshold poses a problem for someone, that person is spreading his or her spend too thinly.

 

In this case, however, even I think Barclaycard's $50 requirement for a 1.5%+ card is excessive.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 30 of 35
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