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Name: Julian Wagstaff

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Avoid at all costs

1
Greetings, all! I was trying to add "zero stars", but unfortunately that is not possible. This is without doubt the worst credit card company I have ever had the misfortune to open an account with. (And let me tell you, they are up against some pretty stiff competition!). Last summer (July 2020), despite my credit report showing no missed or late payments with Barclaycard, and a good/excellent credit score, Barclaycard slashed my available credit from five thousand pounds to about fifty pounds with zero notice. The first I learned was when I received an automated email saying I was nearing my credit limit. Needless to say I panicked, concluding (as you would) that someone had used up my entire 5K available credit. A day *after* the arbitrary limit reduction I received a letter, informing me that they had reduced my limit due to missed/late payments or a poor credit rating. Both of these grounds were demonstrably false. Fortunately, I was at home when this happened and not travelling. Imagine I had been travelling with my Barclaycard as my only source of payment, believing I had 5 grand available? The possible consequences really don't bear thinking about. On complaining, they told me their terms and conditions allow them to slash credit limits without notice and without warning, even for customers with no missed/late payments and a good credit score, and that they do not need to give a reason. If you are happy having a credit card whereby they can slash your credit limit at will with no notice, for no reason, and then offer not so much as an apology, then go for it. Otherwise, avoid Barclaycard at all costs! Reviewed on: 23rd February 2021