Cancelling Barclaycard CC

elizabeth_3

Recently I tried to cancel my Barclaycard as I had transferred my balance to Virgin. The operator at Barclaycard told me that they had now adopted the policy that if they saw applicants continually transferring their balance to 0% deals they would refuse a re-application and therefore I would be better to keep my account open.
Is this true or just a ploy to stop you cancelling your card?

Regards
Sceptical

Clariman

elizabeth wrote:

Recently I tried to cancel my Barclaycard as I had transferred my balance to Virgin. The operator at Barclaycard told me that they had now adopted the policy that if they saw applicants continually transferring their balance to 0% deals they would refuse a re-application and therefore I would be better to keep my account open.
Is this true or just a ploy to stop you cancelling your card?

Regards
Sceptical

Almost certainly not true. In the world of sales (and finance companies are sales organisations), there is a term often used called FUD which stands for "fear, uncertaint and doubt". If you can create enough FUD about something, it might prompt the customer in to action or, in this case, convince a customer not to take the action of closing an account.

Having said that, if the credit companies ever decided to not allow applications from card-tarts and stoozers, I don't think it would be that difficult for them to do so.

Ask yourself the question - why would I want to keep my Barclaycard open ? If you don't need it, why hang on to it ? Do you see yourself as ever being likely to re-apply for a Barclaycard in the future ? Do you think they would really turn away your business if you did come back ? What would be the impact on you IF they did refuse your re-application ? Would it be a problem or would you simply apply elsewhere ?

Clariman