Credit Card (Barclaycard) advice needed

Chris0288

Hi guys - new to the forum just wanted to ask a quick Q before I phone Barclaycard or take this any further

I recently realised I should check my credit reportand clear up any issues - of which there were many! But think I got those sorted.

I then applied for a Barclaycard as my GF recently got a 0% 10 months purchases card with a £5k limit - which I thought would be ideal for holiday coming up etc

I applied online and was told 'we need to check a few things we'll be in touch' - I then checked my credit files on equifax and experian and saw the Barclaycard searches showing up. These seemed to refer to address so I phoned to check this wasn;t an issue (as equifax and experian had cocked up my address!!) - I phoned the 0800 new applications number about 15 times and was cut off by the rude individual on the other side about 12 of those times, and the other 3 they couldn't help.

I then emailed the customer services internet one just in the hope I would get a UK based person that would actually help!

I spoke to someone a few times and she ended up saying they couldn't actually FIND my application!!! So they would contact equifax etc to have the search removed...great I thought...

I then received an email a few days letter from BC saying 'congratulations, your card is approved' etc etc with a limit of.....£260..........

So I went through all that for £260 credit limit..

My existing Santander card is £1000 and I have never missed a payment on anything ever. Credit fileis actually quite good according to the woman at experian.

My Q therefore is...Is it worth me actually keeping this card?? Will it just damage my rating by showing BC will only trust me with £260? I take it theywont actually extend this willingly?#

Ultimately I'm not happy with them atall they seem very very poor in terms of service - on that basis I want to cancel anyway, but just wondering if it would damage my credit file more to keep it or get rid of it??

Thanks guys for any help!

Tixy

Hi

Now that the account has been opened it will make very little difference to your ability to get credit whether you close it or keep it open.
Thats assuming that if you do keep it open you always pay on time etc.

You say experian / equifax had messed up your address - in what way? are you on the electoral roll at your current address and was this not showing on your credit files?

Presumably you have changed your address for your existing credit agreements to your new address and presumably this is reflected in the account information?

InsideInsurance

If you have an issue with overseas call centres then Barclaycard isnt the one for you.

Address verification is a soft search and as such is invisible to other prospective lenders.

As to what others will think? It is impossible to give advice on such a small amount of information. Credit rating is actually very complex and includes a large number of factors. Not only that but each lender has their own method of calculation and so what one lender may think is fairly good another wont like at all so there are no hard and fast "rules"

Chris0288

Fair points!

Basically they didn't have me registered on the electoral role, I think that had a major impact on me trying to get a card last year. From contacting my local council I think it had something to do with my house name vs house number or something
Either way I think/hope it's sorted now!

So should I try in the first instance to see if they will raise it and failing that just pay atleast minimum each month?

I was worried as on my experian credit expert it had stated my limit on my current card of £1000 may show me as a higher risk to some lenders - so I wondered how £260 would make me look?

It's such a crazy figure to give on a 14 months 0% purchases card I thought!

InsideInsurance

Does seem to be a very odd limit for a card with 0% offer. Which card did you apply for out of curiosity? Have you called them to see if the number is right and not a typo? What is the standard APR they have given you post the promotional period?

As said, it is too complex to say yes it will look bad to other lenders or that it wont matter and different lenders will have different views anyway

Chris0288

I applied for the 0% platinum purchases card featured on the MSE website here
The letter I received through the post stated a higher APR of 24% however post the 0% period so it appears they have tailored it in that respect

I'm hoping the email is a typo but I fear it won't be, still waiting on physical confirmation through the post and the actual card. I figure once it arrives ill query this when I phone to activate

I just wanted to check if there was any sort of school of thought on low credit limits impacting your overall file.

Don't suppose there are any key arguments you guys could suggest I put to BC to extend the limit?

InsideInsurance

If you see http://www.barclaycard.co.uk/cs/Satellite?c=Product_C&cid=1306414249954&pagename=BarclaycardPersonal%2FProduct_C%2FBCPCreditCardSummaryBox the minimum credit limit for this card is 250 so it could be correct

BugsyBrowne

Luckily your missis got a card if not you would've ended up doing your whole credit limit in just at the airport.

I do agree I hate speaking to overseas customer service.