Barclaycard trying to keep me, better to close?

MrJester

redux wrote: »

In my scheme even if the Halifax rate goes up you don't incur any interest as it's current spending and paid off in full by the due date.

And actually maybe I was simplifying it too much. If you spend say £300 a month, you can have a balance that fluctuates between £300 and £600, still paying in full on time.

This might mean you can clear the balance transferred to Barclaycard within the 9 months.

They sent me a letter saying the rate was going to change in a certain amount of time and I could stop the change if I agreed to close the use of the card. I could not and cannot pay off this card in full yet it is around the £1600 mark.

I can't make use of it for anything any longer, I just have to pay it back as best I can, or BT it elsewhere.

Cycrow

20aday wrote: »

It used to be the case you could hold two Barclaycards simultaneously but unfortunately this is no longer possible.

are you sure thats the case, how long has it been like that ?

i know barclaycard do change their rules all the time

but i know you could have multiple barclaycards a few months ago, because i applyed and was accepted for a 2nd barclaycard in september

Candyapple

Cycrow wrote: »

are you sure thats the case, how long has it been like that ?

i know barclaycard do change their rules all the time

but i know you could have multiple barclaycards a few months ago, because i applyed and was accepted for a 2nd barclaycard in september

It is a recent change, I remember a thread about on it on here a few months ago.

MrJester

Cycrow wrote: »

are you sure thats the case, how long has it been like that ?

i know barclaycard do change their rules all the time

but i know you could have multiple barclaycards a few months ago, because i applyed and was accepted for a 2nd barclaycard in september

I've always just relied on what it said on the MSE tool. It definitely used to say on all cards I looked at that you were ineligible if you already had a Barclaycard.

But now, I do not see such message on any of them.

MrJester

Candyapple wrote: »

It is a recent change, I remember a thread about on it on here a few months ago.

How recent is that image? I used the Barlcaycard site eligibility checker myself and it said I was 7/10 eligble for a bunch of cards, no message like that appeared.

Candyapple

It's from today, I just went onto the Barclaycard website. Check for yourself, click on the bit where it says 'Am I eligible - check now' and then the first question if you tick yes, the pop-up appears. It even specifies it as one of the 3 checklists on that page:

Please note it’s not possible to apply for a new Barclaycard if you already have a credit card provided by us, including one of our partner cards

http://www.barclaycard.co.uk/personal/credit-cards#/?filter=1321048012863

MrJester

Candyapple wrote: »

It's from today, I just went onto the Barclaycard website. Check for yourself, click on the bit where it says 'Am I eligible - check now' and then the first question if you tick yes, the pop-up appears. It even specifies it as one of the 3 checklists on that page:



http://www.barclaycard.co.uk/personal/credit-cards#/?filter=1321048012863

Alright good to get clarification. You know what I just remembered I think I entered "no" to that part as I was doing a soft check on my eligibility pretending as if I had closed my barclaycard down.

My eligibility is decent now, and I still need a few parts of my credit to update and if I was especially to close the bcard down and give it a little time I'm sure I would get much better offers than 9 months 0%.
Its not so long ago I got some 20+ months on 0% with MBNA. I realise now I have that, it will affect my ability to get others etc etc, but still. And that was before my pay rise.

I think I may be limited a fair bit just by the type of card I have, its a Barclaycard Initial or whatever they call them now < I wonder if that does have any effect.

I'd rather not have a barclaycard if at all possible anyway, so in a couple months I might be able to get a good BT offer elsewhere. I already bank with barclays, so they can see everything already and I don't feel like that is a good thing.

redux

MrJester wrote: »

They sent me a letter saying the rate was going to change in a certain amount of time and I could stop the change if I agreed to close the use of the card. I could not and cannot pay off this card in full yet it is around the £1600 mark.

I can't make use of it for anything any longer, I just have to pay it back as best I can, or BT it elsewhere.

Ok, but you could still do something like I say with a new card for new spending, paid off in full each month, which wouldn't necessarily have to be one with balance transfer offers, though it could be more flexible if it was.

solentsusie

I may have missed this but I can't see that you state anywhere what your standard interest rate is for your Barclaycard currently.

Surely it would be better to balance transfer from Halifax and pay off as much as you can in the 9 months than keep paying at 21.95% if the standard interest rate is lower?

Dobbibill

Hi Mr Jester,

What is your credit limit on your MBNA card?

Is there room to move the excess from BC if you do a BT and cannot pay it off in 9 months?

0% is certainly better than 21.95% IMHO

Before you close the BC, why don't you apply for one of the BT offers that give you 90% chance of getting? Reason I would say do it first, is simply because it has been known to be inaccurate occasionally. It would be awful if you closed the BC then couldn't get anything else to do the BT.