Barclays Bank ,Juniper Credit Card Bait and switch!!! Wilmington Delaware
Barclays (Juniper) issued me a credit card with a credit limit of $2500. I could see this online for approximately 10 days until I received the card. When I activated the card I was informed that my credit limit was $2500. My first use of the card was to transfer approx. $52.00 to my Paypal account. My credit limit immediately dropped to $500.
I called customer service and was transferred to an automated message that explained how I could "Manage" my way back to the original credit limit. I called customer service back, the automated message hung up on me by the way, and explained to the CSR that if someone could not explain the change to me that I would cancel the account. After being put on hold for a while the CSR came back on the line and transferred me to the same automated message. I called back and canceled my account.
I filed a report with the BBB of Delaware. My preferred resolution with the BBB was that the original credit check and the subsequent cancellation do not show up on my credit report.
Bob
Portland, Indiana
U.S.A.
1 Updates & Rebuttals
Nikki
Coconut Creek,Florida,
U.S.A.
Shouldn't affect your credit score
#2Consumer Comment
Wed, December 17, 2008
First, when you opened the account, your credit score may have actually gone up because you have $2500 in open credit you haven't used. Looks good for the used balance to credit limit figures.
If you close your account within a few months of opening, your credit score shouldn't be affected. The only thing it will do is bring your score back to where it was before you opened the account.
The reason closing an account lowers your credit score is if you close an older account that is giving you good points. When an account is closed, it is no longer figured into credit scoring. So, if the account is giving you good points, and you close it, you are no longer getting those good points and your score drops.
The 1 inquiry may only be a few points, or none at all. It depends on how much credit you have been applying for recently.
It is not right that they lowered your limit so quickly. They probably did it en masse through the computer system. Lowered anyone who wasn't using their limit, not taking into account that the account was new.