Platinum Barclaycard - grrr

myrnahaz

Will it damage my credit rating if I cancel a credit card as soon as I've received it?
Barclaycard have been advertising 9 months interest free balance transfer rates on their platinum card, so I applied online, intending to transfer the £6000 left from my last tarting venture. The card came this week with a £2100 limit!! When I rang CS to ask why this was, the snotty youth said it was a starting rate. What's the point of such a low limit on a Platinum card?

I have 2 cards (capital one and Tesco - both platinum) with a total outstanding balance of around £10k on them and I've been tarting quite merrily for the last couple of years - I have a DD set up to pay the minimum each month (so I never miss their deadline to pay) plus I pay additional amounts via the paying-in slip on the statements - so I don't think I'm a credit risk.

I've already shredded the card as it is of no use to me, but I'm worried that I may have ground to a halt with regards to tarting - should I use the £2100 limit and transfer that amount from Tesco card and find somewhere else for the remaining £4k or should I just cancel the barclaycard account before i even use it, and look somewhere else? God forbid that I have to start paying interest!!

Luke

£3500 used to be the lowest you could get. Maybe this has changed as
platinum is opened up to more and more customers.

Having said that you would be lucky to get £6000 as Barclays are tight regarding limits. Think the max balance trancefer is £5000.

I would be more worried about making two applications in close succession. But you are going to need another card for your £4000 anyway.

Maybe apply for another card then cancel just incase they don't give you the limit you want. You may need to keep the Barclaycard.

myrnahaz

I suppose it's a good thing that these people are starting to tighten up a bit. I just wish they hadn't started with me.

MABLE

Disappointing yes, but it is still free money you have said good by too. Also a wasted credit search. Myself I would have made use of this limit.

reehsetin

my first credit card was a barclaycard with a £600 ish limit they sent me a platinum card thought it was a mistake but when i called up their CS it used to welcome me to their platinum service

myrnahaz

I've just spoken to a lovely girl at Tesco CS who offered to reduce my apr from 16% to 7.9% for 6 months, she said it was a 'current offer'. Once I transfer the £2100 to barclaycard, it'll be better again.

desperado

I opened a platinum card four months ago - it arrived with a credit limit of £200 !!!

after 3 months of trying to get it upped (i have a very goo credit score) i had to cancel.

Barclaycard Platinum - totally useless customer service

Rant over