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Barclaycard just cancelled card for no reason
Comments
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Yes
Experian reports score of 960
Gold card just issued by another lender
No financial problems.
Whats their problem?
Could it be they looked at the credit report and saw a competitor?
I think so
Anyone else like to help Barclays go bust?
ian0 -
If the credit card was taken out before 1st April 2007, they do not want to expose themselves to any further debt, just in case you try to get your credit card debt wiped off. I had the same experience with Halifax, but got an application for a new card.
It appears this is becoming a big problem for them.0 -
Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Ian_Milsted wrote: »If the credit card was taken out before 1st April 2007, they do not want to expose themselves to any further debt, just in case you try to get your credit card debt wiped off. I had the same experience with Halifax, but got an application for a new card.
It appears this is becoming a big problem for them.
How long ago was this if you don't mind me asking?Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
Another 3% shaved off 10/12/08
ANOTHER 4 % June 09:beer:0 -
Yes
Experian reports score of 960
Gold card just issued by another lender
No financial problems.
Whats their problem?
Could it be they looked at the credit report and saw a competitor?
I think so
Anyone else like to help Barclays go bust?
ian
What limit did the gold card give you? If it was a fairly large limit, perhaps your income to debt ratio became unfeasible in barclays eyes? Even without you spending on it, you suddenly have access to run up a lot of debt and this may make the bank uneasy.Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
Another 3% shaved off 10/12/08
ANOTHER 4 % June 09:beer:0 -
Paul_Herring wrote: »they've reviewed your current financial situation, and believe that you will (soon) be unable to keep repayments on your card if you continue to spend on it.
Not necessarily true.
OP states, uses card sometimes balance off in full, sometimes nearly in full - therefore Barclaycard make no profit on them. Why would they keep a customer that costs them money (such as to set up or run the account) if they are not going to recover it.No Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
Barclays
R.I.P. (we hope)0 -
In fighting mood now
anyone know what address to use for service on Barclays?0 -
It's exactly true. At least according to what the OP's posted. Did you not read the letter that the OP scanned in?
Not necessarily true.Paul_Herring wrote:they've reviewed your current financial situation, and believe that you will (soon) be unable to keep repayments on your card if you continue to spend on it.
Ignoring the fact that the OP said no such thing (see post #4) that has nothing to do with it, from the letter.OP states, uses card sometimes balance off in full, sometimes nearly in full
Quite the opposite. If the card isn't being cleared, they're getting interest. If they're spending on the card they're also getting a cut of the transaction fees charged to the retailer.therefore Barclaycard make no profit on them.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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