Just been offered 2% cashback by Barclaycard

kam05

Hi...just rang up Barclaycard to close my CC a/c with them, as I now have a Captial one 4% cashback cc. Got put through to the 'oh please don't close your account' dept, asking me why I was closing my CC a/c with Barclaycard etc, told them why.

Well Barclaycard told me that they would offer me 2% cashback through December (whats left of it) and January 2008 to stop me closing the CC a/c, told them no thanks. Then they told me since I had a 5 year good credit history with Barclaycard, I would be throwing this away. Have I done the right thing? I can build a good cc history with Capital one (or any other CC company), as I always pay off the full amount at the end of each month.

Slightly concerned about the 'throwing away 5 year good credit history with Barclaycard' comment, as I will be looking to do some home improvements next year, which will be financed through a personal loan.

Any comments/advice welcome.

Thanks

Kam

JIMBOBC

I wouldn't worry about their comment. Your credit history is good because like you say you have always paid on time. Other credit card companies will see this when they do a credit check.

kam05

Thanks for your comment JIMBOBC...TBH, I would have taken Barclaycard up on their cashback offer, but i didn't because:

1. They were only offering the cashback for less than 2 months.
2. I only like to have/use one credit card.
3. Capital one has given me a bigger C/C spending limit compared to Barclaycard.

mountainchrisriver

Yep, ignore them, they are just trying to panic you into keeping their card...

Paul_Herring

You're "throwing away 5 year good credit history with Barclaycard", not throwing away a 5 year good credit history [with the CRAs e.g.]

Clearly all your "good credit history with Barclaycard" entitles you to is 2% cashback for 5 weeks.

I wouldn't worry about it.

robert_harper_2000

Just thought throw in my bit too. I did the same phoned up to cancel the card and was offered 2% upto £50 per month for six months. I took them up but will prolly cancel the card at the deadline

kam05

Paul_Herring wrote: »

You're "throwing away 5 year good credit history with Barclaycard", not throwing away a 5 year good credit history [with the CRAs e.g.]

Clearly all your "good credit history with Barclaycard" entitles you to is 2% cashback for 5 weeks.

I wouldn't worry about it.

Yes Paul, you are right, 5 years good credit history (with all payments made on time) entitles me to 2% cashback for 5 weeks. Told them to close my CC a/c down.