Upgrading my Barclaycard

Zaki

Well 3 years ago I had a very poor credit history and most of the time my application would be rejected so the only successful application was Barclaycard Initial with 29.9% APR.

Later on, I started taking care of my credit reports and last year the credit score was showing in Fair range. So I applied for Halifax All in one credit card and was accepted with slightly higher interest rate at 21% for purchases.

Since then I have paid off all debts from my credit card to Full and noticed last week my credit rating was showing to Excellent as per Experian and in Good range as per Equifax. So I decided to apply Capital one click credit card with 9.94% APR and the application was successful and already received the pin number for the card.

Now I am thinking to close my Barclaycard Initial account so that I could apply for better credit card in future from Barclays and later on probably close the Halifax card account as well to find the best options available to me.

Just wondering is there any way to upgrade Barclaycard without closing my existing account or should I close the account first... wait for 3-6 months and then apply again for Barclays Platinum card or something else?

I just want to keep 2 or 3 credit cards and I already have three cards after the successful application for Capital one Click card. Now thinking to close Barclaycard account and apply for something better

[Deleted User]

close the barclaycard then wait 6 months then see whats avaliable,meanwhile dont pay the min payment on the other 2

Zaki

woodbine wrote: »

close the barclaycard then wait 6 months then see whats avaliable,meanwhile dont pay the min payment on the other 2

Thanks for the reply,

I no longer need loans so I would probably not be using the credit cards for loans for the next 6 months. So you are suggesting that the best option for me is to close the account, wait for 6 months and re-apply better card?

Is there not any upgrade policy for barclaycard?

Zaki

well I phoned them today and asked them to either upgrade or close my account. They said there is no upgrade offer available to me right now so the only option I have is closing down the account.

Later he transferred me to another department and the Lady offered me 8% reduction in the interest rate and 6 months interest free period making my card's APR to 21.90% effectively.

But I didn't like the Idea and decided to close the account despite the fact I had that card with me since 2008. Barclays should be sincere to their customers as if a new company can offer me 9.9% interest rate on credit card, why can't they just upgrade my account to slightly better card

camuk81

I had this the other week, Barclay card won't allow you to have two lines of credit and they won't upgrade cards! So the long and short is they would rather loose you as a customer and hope in 6 months you may come back as they been so amazing in the past!

Zaki

Zaki wrote: »

well I phoned them today and asked them to either upgrade or close my account. They said there is no upgrade offer available to me right now so the only option I have is closing down the account.

Later he transferred me to another department and the Lady offered me 8% reduction in the interest rate and 6 months interest free period making my card's APR to 21.90% effectively.

But I didn't like the Idea and decided to close the account despite the fact I had that card with me since 2008. Barclays should be sincere to their customers as if a new company can offer me 9.9% interest rate on credit card, why can't they just upgrade my account to slightly better card

Just to update for members who would like to follow similar path and searching advise in future.

I closed my account on 16th of March 2012 as per my last post. 2-3 days ago I decided to apply for Barclaycard Platinum Simplicity which is probably the best credit card offered by Barclays with 7.9% APR (just to try what happens as I wasn't hoping to be successful) and to my surprise I received the credit card in post today with £8000 credit limit and £2400 cash limit on my account. It is a wise idea to close your higher interest rate credit card account and apply for lower interest when your credit rating has improved to 900+ on Experian.

Of course other things also matter but I noticed credit sccore is the most important aspect considered in deciding to offer a new credit card. Registering in voting list is also equally important and I am surprised to see sudden trust being shown by the credit agencies after I registered in the voting list.

Two years ago I had a credit card from Barclays and Capital one with 29% and 34% APR.. now after registering in the voting list and making my payments on time I have managed to close both higher interest accounts and replaced my credit cards with 7.9% from Barclays, 9.9% from Capital one and 21% from Halifax

lawstudent

I created a thread a few weeks ago describing how Barclaycard wouldn't upgrade my card. Got fed up with them and applied for the Lloyds Platinum card and was accepted. Will probably close my account with Barclaycard soon and possibly reapply for a different card at a later date.