Surprise rejection for Barclays Rewards credit card

pensionslaw

I applied for this online just now based on the MSE recommendation for cards for use abroad. I was rejected because apparently, according to the onscreen message, my current levels of borrowing and expenditure mean I would struggle to cope with repayments on any further borrowing.

Hmmm. I have no debts, not even a mortgage. I have consistently held a >100k credit balance in my Barclays current a/c for years (yes, I know, not very efficient !). I have 3 existing credit cards all of which are paid off each month by DD. I have a six figure annual income. What is going on ? More importantly, what is the most effective way of getting Barclays to change their mind ? 

I'm just looking to switch from Halifax Clarity due to issues I've started having with that card while out here in the Canaries. Will post separately about that.

The_Urbanite

pensionslaw said:

I applied for this online just now based on the MSE recommendation for cards for use abroad. I was rejected because apparently, according to the onscreen message, my current levels of borrowing and expenditure mean I would struggle to cope with repayments on any further borrowing.

Hmmm. I have no debts, not even a mortgage. I have consistently held a >100k credit balance in my Barclays current a/c for years (yes, I know, not very efficient !). I have 3 existing credit cards all of which are paid off each month by DD. I have a six figure annual income. What is going on ? More importantly, what is the most effective way of getting Barclays to change their mind ? 

I'm just looking to switch from Halifax Clarity due to issues I've started having with that card while out here in the Canaries. Will post separately about that.

There is an appeals process outlined here - https://www.barclaycard.co.uk/personal/help/credit-cards/appeal-declined-application

It could be any or many reasons why they rejected the application. If it was an automated decision with an odd reason given, maybe they hold incorrect data. Barclaycard can and do approve rewards credit card applications for people who are high earners without debt and can start you off with a 5 figure limit. Speak to them. 

[Deleted User]

Lloyds and Halifax do a card with 0.25% for £4k then 0.5% after so it might be worth a consideration if you want cashback (and AmEx of course) just as a thought 

Report posts that you consider abusive, that is what the MSE team are there to deal with!

pensionslaw

Thanks to the other posters for helpful replies. Just want a card that gives close to mid market exchange rates for use on holiday abroad, and my Halifax card has been playing up

TOP_CAT

I would try again in a number of months or try for the another barclaycard too get your foot in the door.
As its a good card its worth some effort .

Se1Lad

lr1277 said:

Given your income and savings, surely you are in the territory for a wealth account?

Barclays have a wealth offering. If you get such an account, your account manager might be able to help/facilitate you getting the card you want. But beware, back in August many posters were complaining that Barclays were reducing their limits to approximately what they owed at the time. So if you get a card from Barclays, you may not get a useful limit.

As you are in wealth account territory, could you get an account from Coutts? Their credit, charge and debit cards have no fx fees. However there are charges on the accounts. Horses for courses I suppose.

Barclays published requirement to become a wealth client is £500,000 or more in investable assets.   They may also do a minimum salary option, however it’s not advertised.