Barclaycard nightmare

Buns_Mum

Hi
I'm after some feedback please! I opened a new credit card with Barclays 2 weeks ago and they gave me a £5k credit limit. I did a balance transfer for half the limit. My pin arrived yesterday and my wife's today but also in todays post was a letter stating they had decided to close the account because I now don't meet their 'current criteria'. It just seems as though they've opened the account, taken their transfer fee and then left me high and dry. Has this happened to anyone else or is it common sharp practice?
Thanks
:mad:

BugsyBrowne

Buns_Mum wrote: »

Hi
I'm after some feedback please! I opened a new credit card with Barclays 2 weeks ago and they gave me a £5k credit limit. I did a balance transfer for half the limit. My pin arrived yesterday and my wife's today but also in todays post was a letter stating they had decided to close the account because I now don't meet their 'current criteria'. It just seems as though they've opened the account, taken their transfer fee and then left me high and dry. Has this happened to anyone else or is it common sharp practice?
Thanks
:mad:

Many people have came on here with the same problem as you've had,been accepted with high limits and then been declined.

Think it may well be down to their computer systems.

Buns_Mum

It's mad because I'd closed 2 cards where I had a total credit limit of £20k so I've massively reduced my debts!

BugsyBrowne

Buns_Mum wrote: »

It's mad because I'd closed 2 cards where I had a total credit limit of £20k so I've massively reduced my debts!

Yeah agree its completely wrong.

chattychappy

Well, if they've completed the balance transfer then whilst they can close the account, you should be permitted to pay down the balance within the agreed terms.

If they haven't done the transfer, then you won't have been charged the fee.

These stories are so common with Barclaycard that I'm sure there is some kind of systemic failure.

You could send in and then escalate a complaint to the ombudsman. If enough people did the same, they might get investigated. Probably not worth the agro though.