Barclay Card - balance transfer deciscion reversal

retrospekt

Hi all, looking for some guidance / advice , due to some poor financial choices and a redundancy situation - I have spent the last 12-18 months rebuilding my credit file dragging it through various stages - very poor, poor and now fair as described by Equifax in July16- no loans or any other debts outstanding and all bills handled on time - I have only one Capital One credit builder card (£1.8k / £2k) and no missed payments for anything else. I have always followed this site so i thought it was time to do a balance transfer via the eligibility tracker as capital one were doing me for 38% APR - which was getting me nowhere - Barclays came top with and i didn't hold my breath but i went for it and the accepted me on an 18 month 0% deal Rejoice ! Super! Or so I thought, they were very stringent through the sign up process asking lots of detail around the BT then the card comes through signup complete but they've said they will only give me £400 credit, making the entire process useless - i called them at one of the overseas call centers and was told i could take a second card with them in the "hope of splitting the BT" alternatively i could wait 3 months and ask them to increase the limit

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I am absolutely dumbfounded (FYI i cut the card up to avoid temptation) and decent amount annoyed this was supposed to be the final step in sorting out my credit- I'm just gutted:( is this responsible or even decent behavior for a credit / lender ? Sorry for the length of this!!!!

[Deleted User]

It's certainly responsible lending, as they are cautious about giving you too much available credit.

Make sure you take the £400 they have given you and BT as much as you can to that. That will reduce your interest payments considerably, although remember that Bcard have a higher minimum payment than most.

Candyapple

http://www.moneysavingexpert.com/credit-cards/bad-credit-rating

BTW you aren't allowed a second Barclaycard anymore so whoever told you that in the call centre was lying. And your limit most likely won't be increased until you've held the card for at least 6 months.

retrospekt

Deleted_User wrote: »

It's certainly responsible lending, as they are cautious about giving you too much available credit.

Make sure you take the £400 they have given you and BT as much as you can to that. That will reduce your interest payments considerably, although remember that Bcard have a higher minimum payment than most.

thanks very much for this advice - i really wasn't looking at it from the perspective of using the Barclay card to drive the payments down on Capital One i'll be splitting the money up but at least it will be working harder for me as opposed to mainly going towards Capital One's APR. thank you so much again for this,

A4445

I was offered a credit limit increase after 5m of holding my barclaycard.