Barclays closed my Platinum account HELP!

bombarzio85

Hi,

I signed up for a Barclays platinum account.

They sent me the card through the post etc.

I cleared £2500 of money on my interest thirsty credit cards doing a balance transfer which was successful.

I then received a letter through the post saying that my account no longer meets there lending criteria and my account has been closed.

What has happened to the money I owe them?

I'm scared to call up in case the ask me to pay it off in one go instead of the payment plan I had set up to repay over 24months interest free.

Has anyone had this issue before?

Any advice would be massively appreciated.

Please help!

Gromitt

You really do need to discuss it with them. What they can do is specified in the terms and conditions you agreed to when you opened the account. It may state that any outstanding amount must be repaid within 14/30 days, for example.

thenudeone

I presume thta you mean the Barclays Platinum credit card?

They have probably just stopped you putting any new spending or transfers on the card.

If it was at 0% it will remain at 0%, and they can't ask you to repay it in one go (or even within 14/30 days); as long as you keep to the terms and conditions. It's a credit account, not an overdraft. You are entitled to pay it back in accordance with the terms that you agreed. If that means 1% of the balance every month, so be it.

blacksta

Search the forum, a thread was opened in the past concerning the same issue you had. You have the first person i heard off that did a successful transfer before the card was cancelled. I think Barclays is going crazy.

Ben8282

bombarzio85 wrote: »

I'm scared to call up in case the ask me to pay it off in one go instead of the payment plan I had set up to repay over 24months interest free.

What do you mean exactly by 'payment plan'?

It seems a little odd that they would allow a balance transfer which has paid off the balances on your other cards and then just cancel the card. Are there perhaps additional factors that you have not yet mentioned?

Primavera_2

blacksta wrote: »

Search the forum, a thread was opened in the past concerning the same issue you had. You have the first person i heard off that did a successful transfer before the card was cancelled. I think Barclays is going crazy.

I've seen the same thing. OP, are you sure that the balance transfer definitely went through successfully? It does seem really strange.

Bravehearted_2

!!!!!!!!. Definetely convieniently omitted information.

chattychappy

Primavera wrote: »

I've seen the same thing. OP, are you sure that the balance transfer definitely went through successfully? It does seem really strange.

Yeah, that's what I'm thinking. Just because they've accepted the instruction doesn't mean it isn't subject to further checks.

Only if the money has arrived with the old cards would I agree it has "gone through successfully".