Barclays pulls a hard inquiry for account review?

[fico4cash]

On 11/4 a new hard inquiry showed up on my personal Experian from Barclays. I haven't applied for new credit from them but do have a Bank Atlantic card which is serviced by Barclays. Around that same time, I took a cash advance which I suppose may have triggered an account review. However, to my understanding, AR's are coded as soft inquiries. I'm going to call tomorrow and ask what's going on. Never been late or over the limit. Can they just smack me with a hard like that? I'm going to insist that they recode. Any thoughts?

 

F4C

[breeze]

Yes, they can. Ask them politely to recode it.

[fico4cash]

Who do I politely ask.....the CS rep who answers or do I need to request a supervisor/dept. or what?

 

F4C

[greywolf]

You will probably need to speak with a higher up for that. A front line CSR isn't going to be able to help you. Just give them the run down, and see what they say.

 

Side note, why did you take a cash advance on a business account? (huge no-no, you are asking for AA)

[fico4cash]

Grey,

 

If it's so bad, why do they even allow cash advances?

 

F4C

[thestockman]

Side note here, what is AA ?

[fico4cash]

Adverse Action

[greywolf]

Grey,

 

If it's so bad, why do they even allow cash advances?

 

F4C

Beats me, taking a cash advance on a business card justs seem like a very bad idea to me.

[800FICO1]

Grey,

 

If it's so bad, why do they even allow cash advances?

 

F4C

Beats me, taking a cash advance on a business card justs seem like a very bad idea to me.

 

I have this very card as well as Key Bank MC and I take Cash Advances out every month $500.00 at a time for maybe $2000.00 each month no problems here...not even a call. It may just depend on the type of business an individual is in and the level of activity on the card.

[fico4cash]

Grey,

 

That's funny coming from someone who liquidates cards by buying coins from the U.S. Mint. That seems like a very bad idea to me. What valid explanation could you give if a credit card issuer ever questioned you about it? It makes you look sneaky....not to mention being a pain in the butt.

 

F4C

[greywolf]

Grey,

 

That's funny coming from someone who liquidates cards by buying coins from the U.S. Mint. That seems like a very bad idea to me. What valid explanation could you give if a credit card issuer ever questioned you about it? It makes you look sneaky....not to mention being a pain in the butt.

 

F4C

If a card issuer asks me about it, what is there to tell? I am purchasing collectible coins from the US Mint. Nothing wrong with that. US Mint proof sets are highly collectible these days.

 

A cash advance is an almost guaranteed account review, which occurred in your case. Not only do you get a higher chance for AA, you do not get rewards, there may be a cash advance fee, and there is no grace period for a cash advance.

 

You could BT yourself the money instead if you needed the money.

 

I didn't mean to argue with you, or offend you, but cash advances have been known to lead to AR, and AA.

Edited November 13, 2009 by greywolf

[onlineglobal]

What does BT yourself the money mean?

 

That's funny coming from someone who liquidates cards by buying coins from the U.S. Mint. That seems like a very bad idea to me. What valid explanation could you give if a credit card issuer ever questioned you about it? It makes you look sneaky....not to mention being a pain in the butt.

 

F4C

If a card issuer asks me about it, what is there to tell? I am purchasing collectible coins from the US Mint. Nothing wrong with that. US Mint proof sets are highly collectible these days.

 

A cash advance is an almost guaranteed account review, which occurred in your case. Not only do you get a higher chance for AA, you do not get rewards, there may be a cash advance fee, and there is no grace period for a cash advance.

 

You could BT yourself the money instead if you needed the money.

 

I didn't mean to argue with you, or offend you, but cash advances have been known to lead to AR, and AA.

[greywolf]

BT means balance transfer, some cards allow you to request checks against your account that have a promotional interest rate, and no fee. You just write yourself a check, or the card issuer can just ACH the money into your checking account.

 

There really is no benefit to taking a cash advance. There is a fee, there is no grace period, there are no rewards, and it increases you chances of AA.

 

I am not trying to make fun of, or insult anyone here. A cash advance has a place, just not on any of my cards.