I have had a David's Bridal Credit Card for 2 years and have never had late payments and always pretty much paid my balances off either in full or no less than two payments. I've used my David's bridal card to purchase bridesmaids dresses, alterations, bridal gifts, and I had my own dress purchased and altered at David's Bridal when it came time for me to get married. The last thing I did on my card was the alterations for my dress and in the comotion of getting married, planning my honeymoon, and moving into my husband's condo I forgot to pay off the remaining balance. I eventually got a phone call that I had a balance of $131 on my account that needed to be paid. I apologized and paid in full. The gentlemen said perfect your account is all taken care of. I check my credit score about 10 days later and it had dropped 90 points. I called David's Bridal and asked why they reported to credit bureau if I paid off the account in full. The lady told me if your account is over 30days and we call and you take care of it then we don't report it. I told her the day I was called I paid off everything right there over the phone. She basically said to me sorry, once we report it we cannont take it back. To have a card for 2 years with them that has never been paid late or even a remaining balance for most part EVER, and to be someone who takes very good care of their credit, I was completely shocked that this was how David's Bridal dealt with me. To report that basically I am a poor person to lend to over $131, when clearly I have great history with them, continue to give them business, etc., that was highly unexpected. I mean seriously.... David's Bridal you are currently filing for bankruptcy at this moment for debt you can't pay off at all... is this some desparate attempt to try keep afloat or something? Are you just man handling everyone who owes you single dime to pay off your own debt?? If you have this card all I can say is be extra careful and don't depend on good business practice with this card obviously.
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The process was fast and the associate was very helpful with trying to find the information through my bank instead of me having to send them a lot of paperwork. The only reason reason why I said is misleading is because nowhere in our conversation he mentioned that I would have to pay a $500 processing fee. I thought that the 21 pecent interest rate was the only payment to receive the loan but that's only part of it.
I applied, just to see what they would offer. Then I declined. Go to Capital One instead. They seem to actually APPRECIATE your efforts. It is insulting to people who genuinely want to improve their credit to take them for suckers, trying to get every penny they can legally extort from you. I would highly recommend you send them the message by not giving them the time of day.
I currently have two credit cards from Barclay's and they are the two lowest cards I have in my portfolio. They do me more harm than good. I just wasted another credit inquiry applying for their Ring Card. Wow, what a joke. It was suggested by another family member to apply for a "0" interest card to do a balance transfer. I thought why not, I am in the middle of paying down my balances in order to get my score back up and stopping accrued interest would be a great way to start. My current card limits range from $7800 to $18,600 except for my older Barclay Apple Rewards card that is stuck at $2250 and my new Ring Card I do not want that has an insulting $250 limit. I know, it's an embarrasment to the hard work I have put into building my overall portfolio. I have made a request to cancel this card out. I will never recommend Barclay credit cards to anyone.
I have total available card limits of $105k with the balance on all of them right at $49k which has tanked my credit score. It's hard to maintain a great score if your overall balances are more than 10% of the limits, it used to be 30% rule of thumb, and now with the new FICO scoring module this is no longer the case. And it is hard to grow a large enough portfolio without taking years to do so do to the problem with negative marks from credit inquiries.