Cashback Barclaycards!!!

ic

I've just called Barclaycard to confirm when my annual bonus rate will apply, and was told it will be in line with when I originally opened my Platinum account about ten years ago in May. I was also told it wasn't possible to cancel the transfer to the cashback card or prevent the annual fee being applied, even though I haven't signed a new agreement, "because that was the way the system worked and there was no way of changing it today". They did offer me a goodwill gesture that more than offsets the fee, so I'm happy and continuing with the transfer (which by the looks of things I have no choice on anyway).

So a warning to others that are transferring - according to the two people I spoke to, your annual bonus rate is locked in to the date you originally opened your account, whenever that may be - not when you transfer to the new account.

lawstudent

I have finally received my modifying agreement today. That is almost one month from the date I applied. Hope it doesn't take as long to receive the card =(

guesswho2000

lawstudent wrote: »

I have finally received my modifying agreement today. That is almost one month from the date I applied. Hope it doesn't take as long to receive the card =(

Why do you need a new agreement out of interest?

I was wondering when my new card would come, but it was here when I got home from work today. I switched an old card I'd had since 2005 but didn't need a new agreement.

lawstudent

guesswho2000 wrote: »

Why do you need a new agreement out of interest?

I was wondering when my new card would come, but it was here when I got home from work today. I switched an old card I'd had since 2005 but didn't need a new agreement.

Don't ask me :S Maybe it depends what product you were originally on.

steffangl

ic wrote: »

I've just called Barclaycard to confirm when my annual bonus rate will apply, and was told it will be in line with when I originally opened my Platinum account about ten years ago in May. I was also told it wasn't possible to cancel the transfer to the cashback card or prevent the annual fee being applied, even though I haven't signed a new agreement, "because that was the way the system worked and there was no way of changing it today". They did offer me a goodwill gesture that more than offsets the fee, so I'm happy and continuing with the transfer (which by the looks of things I have no choice on anyway).

So a warning to others that are transferring - according to the two people I spoke to, your annual bonus rate is locked in to the date you originally opened your account, whenever that may be - not when you transfer to the new account.

Yet another different story! Can you confirm this is the case please Brendan?

ic

Given the silence in here, I guess Barclaycard just don't know.

TheStickman

On a previous page I saw someone mention that they hadn't heard of anyone being rejected yet, well I was, on the grounds of the report from Equifax. Could anyone suggest what's the most likely reason?

Current accounts
HSBC (£750 overdraft available, never used) - regularly used the account since opened in 2000
Nationwide (£0 overdraft available) - rarely used since they dropped the free cash withdrawals abroad
RBS (£0 overdraft available) - never used the account since opened in 2003, appearing on Equifax as settled since 2008
NatWest (£0 overdraft available) - never used the account since opened in 2003, appearing on Equifax as settled since 2008
The RBS and NatWest accounts have the same last 4 digits in the account number, so perhaps their IT system has been clever and merged the accounts at some point.

Credit cards
HSBC (£2500 credit limit) - regularly used, although I rarely get anywhere near the limit, repaid in full every month since I've had it
Barclaycard from work (repaid with a direct debit from my current account), it doesn't appear on Equifax so I can't see it's in any way linked to my credit rating, again repaid in full every month

Addresses (on the electoral roll at all of them)Current address for 3 years
Another addrees for 1 year before that
Same address for 7 years before that

Previous searches
Only the Barclaycard Cashback search appears, I remember being rejected for a Capital One credit card about 2 years ago but then being accepted by HSBC.

No financial associates, no CCJs, no corrections on my credit file. Same employer for 4 years.

Income: £60k

Rejection reasons I can think of
1) I can clearly see that I wouldn't be a particularly profitable customer to give a credit card to, as my credit file suggests I'd repay in full every month, although they'd do well from the fees from the retailer from regular use; I happily use my credit card to pay the remaining 50p when buying a few things in Tesco after tipping whatever coins are in my wallet into the self service till. However, most people here seem to have been accepted and I assume a lot of them repay credit cards every month too.
2) I've got 2 current accounts I don't use, and another which hasn't been used in over a year - but as there is no credit available would that worry Barclaycard? It might suggest I wouldn't use the credit card but I think they'd happily take the risk on the small set up costs of a new account.
3) There is a slight discrepancy between my middle name appearing on some accounts and not on others, I can't remember if I included it or not when applying to Barclaycard - again I don't think this should really affect the application.
4) I put both the flat number and name into the "house name" box when applying rather than the block name in "house name" and flat number in "flat number" - I assume their data system should be able to cope with things like that.
5) I don't have enough of a credit history - but I have a couple of years showing repayments on a credit card.


I'm not particularly bothered that I can't get the cashback card (I'll probably apply to Amex for theirs instead, although if I get rejected there too I won't bother trying a 3rd to avoid too many credit applciations), but I'm a bit worried that when I apply for a mortgage in a year or two I'll get rejected for that too. I'd imagine banks would use a different credit scoring system for mortgages to deal with the different risks of secured and unsecured lending, but could I have too little credit history for a mortgage?

Chris2000

ic wrote: »

I've just called Barclaycard to confirm when my annual bonus rate will apply, and was told it will be in line with when I originally opened my Platinum account about ten years ago

The cashback terms & conditions say otherwise, they clearly link the Annual Statement date to the date of joining the Scheme:

3.2 By “Cashback Year” we mean a period of 12 monthly Statement Periods (approximately one calendar year) commencing with the Statement Period in which you join the Scheme or the corresponding Statement Period in subsequent years.

They don't explicitly define the 'Scheme' but the rules are headed Barclaycard Cashback Scheme Rules so the intention is clear. No-one joined this Scheme ten years ago because it didn't exist.

I expect that in practice they will apply the scheme rules correctly as stated, regardless of what their customer service staff say in this thread or on the phone. But take a copy of the rules just in case, and complain if they don't apply them correctly.

My interpretation of the scheme rules remains the same:
Cashback Year starts when you join the scheme (new account opened) and lasts for 12 months - Rule 3.2
Annual Statement is the 12th statement, around the anniversary of account opening, and will have the annual cashback credited to it - Rules 3.1, 3.2 & 6.1
Transactions in the subsequent statement period (immediately following the Annual Statement) will be eligible for the anniversary bonus cashback - Rule 4.3

Anything else and I'll happily take my complaint all the way to the FOS or the small claims court if necessary.

Bravehearted_2

TheStickman wrote: »

Rejection reasons I can think of
1) I can clearly see that I wouldn't be a particularly profitable customer to give a credit card to, as my credit file suggests I'd repay in full every month, although they'd do well from the fees from the retailer from regular use; I happily use my credit card to pay the remaining 50p when buying a few things in Tesco after tipping whatever coins are in my wallet into the self service till. However, most people here seem to have been accepted and I assume a lot of them repay credit cards every month too.

5) I don't have enough of a credit history - but I have a couple of years showing repayments on a credit card.

?

This is a myth perpetrated by applicants angry at being rejected. CC lenders don't decline you for being too good a customer. More likely to be your thin history.

steffangl

My modifying agreement to move to the Cashback card finally arrived last Monday. I returned it the same day, and have just spoken to an advisor who confirmed they had received it the day after. He couldn't tell me when I would receive my new card, though. The account is still showing as an Initial card at the moment.

Any one know when this will change over? Will it be on my statement date or am I just waiting for someone in the back office to click a few buttons?

Thanks again