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Update: I received my denial letter in the mail form Barclays, and the reasons they cited for denying me were:
1. Insufficient number of accounts paid as agreed
2. Insufficient number of credit cards
3. High number of recent inquiries on your credit report
What really threw me for a loop is the "paid as agreed" line...I've never paid any of my credit cards late, so I'm slightly confused. Perhaps they are referring to my foreclosure from 2009?
Also, I currently have 6 credit cards and 3 Comenity store cards...does anyone know what would be a "sufficient" number of cards for Barclays? They cited my TransUnion credit score as 657.
I am about to call them for more info......
@Anonymous wrote:Update: I received my denial letter in the mail form Barclays, and the reasons they cited for denying me were:
1. Insufficient number of accounts paid as agreed
2. Insufficient number of credit cards
3. High number of recent inquiries on your credit report
What really threw me for a loop is the "paid as agreed" line...I've never paid any of my credit cards late, so I'm slightly confused. Perhaps they are referring to my foreclosure from 2009?
Also, I currently have 6 credit cards and 3 Comenity store cards...does anyone know what would be a "sufficient" number of cards for Barclays? They cited my TransUnion credit score as 657.
I am about to call them for more info......
I'd call them to recon, stat!
Barclays is one of the more lenient lenders with recons, in fact my Sallie Mae came from a recon (albeit with a low limit). As long as your OK with a low limit if they do decide to approve you, I say go for it!
@Anonymous wrote:WebMD needs to add "app anxiety" to their list of ailments.. yes folks.. it's real! lol
OH NO!!! You really checked for it?
“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin
Gardening since 3-26-15
All is never lost with Barclay's. And what a fickle bunch they are but pretty predicable anymore. My Experience: I applied for Sallie Mae with still young credit (only 2 cards at 1 year)(others relatively new) back in March this year. After 4 Recons i throwed in the towel and moved on. About 4 months afterwards from that denial in July i apped for Barclay's Reward and got a mind-blowing Instant Approval! for 5K, my very first instant without having to recon. Fast forward last month i poked the Barclay's bear for Sallie Mae a 2nd time and was scolded for having "too many recent new accounts" (TRUE!) but only bothered to recon twice and then throwed in the proverbial towel with expectations that the 3rd and next time just might be the charm
Just don't let them ruffle you up too much and if your recons fail to yield the results you expected this time, just wait it out awhile and they seem to become more receptive the next go rounds.
I'm banking on finally landing Sallie Mae sometime in early 2015 hopefully. It's been an elusive card for me to reel in from them.
@CreditMagic7 wrote:All is never lost with Barclay's. And what a fickle bunch they are but pretty predicable anymore. My Experience: I applied for Sallie Mae with still young credit (only 2 cards at 1 year)(others relatively new) back in March this year. After 4 Recons i throwed in the towel and moved on. About 4 months afterwards from that denial in July i apped for Barclay's Reward and got a mind-blowing Instant Approval! for 5K, my very first instant without having to recon. Fast forward last month i poked the Barclay's bear for Sallie Mae a 2nd time and was scolded for having "too many recent new accounts" (TRUE!) but only bothered to recon twice and then throwed in the proverbial towel with expectations that the 3rd and next time just might be the charm
Just don't let them ruffle you up too much and if your recons fail to yield the results you expected this time, just wait it out awhile and they seem to become more receptive the next go rounds.
I'm banking on finally landing Sallie Mae sometime in early 2015 hopefully. It's been an elusive card for me to reel in from them.
You should have kept trying.
Thank you!! I just made my first recon call and they told me I had too many new accounts (4) and not enough credit history. I had to force the rep to recognize that I had a solid history with BoA and Cap1, which he finally did, but he still came back to the old "too many new accounts" song and said there was nothing he could offer me at this time. Boooooo! I'll try again in 6 months. Its not like I really NEED the card, I just want it for the awesome rewards structure.
@Anonymous wrote:Thank you!! I just made my first recon call and they told me I had too many new accounts (4) and not enough credit history. I had to force the rep to recognize that I had a solid history with BoA and Cap1, which he finally did, but he still came back to the old "too many new accounts" song and said there was nothing he could offer me at this time. Boooooo! I'll try again in 6 months. Its not like I really NEED the card, I just want it for the awesome rewards structure.
You still could try again but in the event they continue to stick tight to their current decision (like they did me) you've taken that positive step forward with them in corresponding with Recon Dept, and so what that means is that now you're almost surely a few months down the road going to garner a better outcome the next time with your efforts.
Kudo's for the effort zeroing in on Sallie Mae and all the best in finally landing it when you do. .
@Anonymous wrote:Thank you!! I just made my first recon call and they told me I had too many new accounts (4) and not enough credit history. I had to force the rep to recognize that I had a solid history with BoA and Cap1, which he finally did, but he still came back to the old "too many new accounts" song and said there was nothing he could offer me at this time. Boooooo! I'll try again in 6 months. Its not like I really NEED the card, I just want it for the awesome rewards structure.
Trust me, You NEED it.
Get back on that phone till they tell ya not to call again!