Barclaycard not reporting closed and cleared account

Gordon_Hose

Blimey, much a-do about nothing.

No need for credit and the account on your file will be well and truly updated by next January.

Squid101

Well I hear what your saying about it being a non-issue. My issue really was about why they would delay, and having had this happen to us, might this be of interest to others who may be in a similar position but who have cleared off cc's in order to make a mortgage application?


At first yes, it was an issue for me. This clearly is now just my annoyance with the system.


Secondly though as this conversation has gone on it is now about trying to inform others who may be affected. If we had to re mortgage this month we would have been at a disadvantage.


I don't think I am being pedantic, this is though the perfect place to discuss and share issues like this is it not?

Gordon_Hose

Most places only update once a month, rather than do small updates more often it is cost effective to send bulk updates.

I just don't understand where your frustration comes from if you're not wanting any credit or re-mortgage until January! Even if you needed it tomorrow I'm sure you could produce evidence to your mortgage supplier that the account is closed.

Squid101

I suppose like many people I feel a little threatened with the old credit rating thing. It can be a difficult to look at it as something which is just a measure, that each lender uses this plus their own assessment. As a measure of financial health it really is rather powerful. Having had a monthly credit report for over 3 years (pre buying - post buying) I have maybe been a little too focused on it to be fair.


Personally, when I noticed it had not gone from my credit report I felt a little nervous even though its not a issue today. Which has kindly been pointed out, and I do appreciate that.


Its human nature isn't it, to fear something which can control your life, and with fear comes that fight back behaviour if you know what I mean.

Crystal_Pixie

I have had a similar thing happen with Barclaycard. In January I paid off the card to the penny on the statement date.

I got a letter confirming it had been paid and a last statement saying £0.

I checked my report at the end of March and is showed that the account was still open and overdue.....£1!

So I also have an incorrect balance on my report.

I have put in a correction to the CRA and called Barclaycard who tell me I owe £1.77 in interest - which I don't understand.

I think Barclaycard have an issue with reporting and account closing process.

Squid101

I think your spot on there Crystal Pixie. Its the account closing and reporting process.


Ironic really...we all do our best to be credit worthy, we seek credit when we need it, so were always fearful we get rejected. Then when were done, pay off and close accounts we cant!!

Doctor_Duke

So my experience with my Barclaycard. Statement date 24th February that balance has been reported to the CRA dated 9 March but it actually didn't update on Experian until 24th March so if you paid a credit say 25th Feburary this isn't actually going to show until the 24th March statement balance is updated to Experian around the 24th April. So it is true it is a monthly update just depends when you credited the account in relation to your statement date. Hope that helps.

Squid101

Thank you Doctor. I think if I paid for a new credit report on the 14th April it should be off, hope so


They have till next week before I turn into a green hulk like squid LOL!!

Squid101

Just an update.

Got credit report from experian today and balance still not reported as cleared.

I have a complaint with Barclaycard Clearcredit and now lodged complaint with th ombudsman. Even though I don't need credit today or in the next 6 months or so I still think it's wrong. If we must be held accountable via the reporting of financial behaviour (which is right) then it must be a two way relationship. Barclaycard have a responsibility to report true facts in a timely way.

Will just have to see what happens.

Squid101

Only keeping this updated for other users really as a "be aware" notice.

Letter from Barclaycard saying;

Account closed on 24 Feb.
Account balance last day of Feb reported to credit agencies mid March.
Account balance last day of March reported mid April.

Ok so according to that the balance should have show cleared on three credit reports latest mid March.

It's still there today! Experian report last updated by Barclaycard 6 April. It came as an alert.

Best thing to come. I have been told in writting that once account is cleared they have no legal requirements to report to credit agencies again.

That may indeed be my problem and others on here having problems with Barclaycard.

It's with the ombudsmen.