Interesting Barclaycard 0% experience

timelapse

I just signed up for the highly promoted 20 month 0% balance transfer Barclaycard as part of my next tactical tart.

Just thought I'd share my rather intriguing experience...

Card arrived 3 days ago, PIN arrived 2 days ago. Online banking all sorted out so that I could get on and transfer my balances.

Phoned up to do the transfers today as it was the optimum time for my tarting and as soon as I gave my card number they transferred me to the (foreign based) fraud prevention department, which was an interesting start to the conversation.. Then I went through security which was fine. Then the guy read out a statement to inform me that Barclaycard constantly review their lending criteria and have decided that on this occasion they do not want to continue to offer me credit, that my card has been cancelled immediately and should be destroyed.

I explained that surely something was wrong as I only just received my card and PIN and had only activated it earlier that day but apparently not.

I asked if my credit score would be affected and he said he wasn't sure.

Has anyone had this happen to them so early on in getting a new card? It all seems very strange to me. The weirdest thing is that my credit rating is very good and if anything was to be done I'd expect maybe a reduction in the limit, not a total cancellation of my card that I was about to use!

bengalknights

They did this a few years back where they withdrew a large amount of credit accounts both new and current.Its just the way the operate based on risks and profit.

Saints2011

Lots of threads about this pretty common at the moment with Barclaycard

m00m00

at least they cancelled it before you made the BT, which hasn't always been the case.