Barclaycard query

Ben8282

This is a rather interesting thread. I had a similar experience with LTSB credit card about 1 month before BT period was due to run out saying basically that credit reference agencies had informed them of an adverse change in my circumstances and therefore they had reviewed my other accounts with themselves and as a result of that review my interest rate was to be increased.

I called them, told them there had been no adverse change in my circumstances and basically challenged them to tell me what was wrong with the conduct of my other accounts - current account 4 figure overdraft facility unused for months, loan repayment up to date, no other 'adverse' account conduct, nothing unpaid anywhere else which they could see for themselves as everything I have paid by dd from their current account etc.

At this point the staff member insisted there was 'something' on my credit report and tried to sell me a credit guard policy. He then realised that I have a premier current account and therefore am already paying for credit guard and put me on hold. He came back a very short time later and told me to ignore the letter and that my interest rate would not in fact be increased because, although he continued to insist that there was 'something' on my credit report, he didn't know what it was and no reason was available as to why my interest rate was to be increased.

True to his word, no interest rate increase occurred.

My question. Is it possible that credit card companies are sending out such letters for the sole purpose of getting cardholders to call to be sold credit guard or similar policies?

A final comment. Despite this attempt at an interest rate increase, a 0% 6 month online balance transfer to 95% of credit limit has remained available during the entire period both before previous BT ran out, at the time they were threatening the interest rate increase and is still available now.

DevilPigeon

mayforher wrote: »

hm the sneaky devils. i will do that - i'll write to them. But i've written to them before and they never reply! terrible customer service.

Also, on the credit rating etc - I have just used the Nationwide soft check and they said they would give me a card for 0% interest for 20 months with a credit limit of £500.00. i'm due to go on mat leave in December but only hope to have about £500 left on my card by then - is it worth getting that card, transferring £500.00 from the barclaycard etc or should i just leave it until im about to go on mat leave and try and apply again and see what they offer me then? i just thought maybe if i get the card now, thats £500.00 less i'm paying interest on! minefield...

When you ring them next to ask for confirmation in writing, ensure you make a note of the call - ie date, time, who you spoke to, what was said etc - just in case they don't give you written confirmation and you decide to use the card anyway.

As for your results from the Nationwide soft search, I understand that being quoted a £500 limit for a card is a good indication of being rejected should you pursue it... You may want to check out some of the other threads on here, there are several, just search for stuff like 'nationwide soft search', 'nationwide credit card quote', stuff like that.

DevilPigeon

Ben8282 wrote: »

This is a rather interesting thread. I had a similar experience with LTSB credit card about 1 month before BT period was due to run out saying basically that credit reference agencies had informed them of an adverse change in my circumstances and therefore they had reviewed my other accounts with themselves and as a result of that review my interest rate was to be increased.

I called them, told them there had been no adverse change in my circumstances and basically challenged them to tell me what was wrong with the conduct of my other accounts - current account 4 figure overdraft facility unused for months, loan repayment up to date, no other 'adverse' account conduct, nothing unpaid anywhere else which they could see for themselves as everything I have paid by dd from their current account etc.

At this point the staff member insisted there was 'something' on my credit report and tried to sell me a credit guard policy. He then realised that I have a premier current account and therefore am already paying for credit guard and put me on hold. He came back a very short time later and told me to ignore the letter and that my interest rate would not in fact be increased because, although he continued to insist that there was 'something' on my credit report, he didn't know what it was and no reason was available as to why my interest rate was to be increased.

True to his word, no interest rate increase occurred.

My question. Is it possible that credit card companies are sending out such letters for the sole purpose of getting cardholders to call to be sold credit guard or similar policies?

A final comment. Despite this attempt at an interest rate increase, a 0% 6 month online balance transfer to 95% of credit limit has remained available during the entire period both before previous BT ran out, at the time they were threatening the interest rate increase and is still available now.

It really annoys me when (potential) lenders come out with fluffy excuses like "there's something on your credit report you need to check" etc, either when refusing a new account or adversely changing an existing one. They might as well say "the weather's been bad where you live the last few days, so we have to say no on this occasion, try again in 6 months".

Unless the lenders get additional info from the CRAs that we never get to see ourselves...? Or maybe they just lie...?

mayforher_2

he didnt try and sell me anything at Barclaycard! he just said "ok, your account is staying as it is, terrah!" haha. verrry strange. i think ill keep my card in a drawer just in case.

didnt know that about nationwide soft search, thanks for that, ill just leave it until closer to my mat leave and see if i can transfer then if there is anything left on my card.