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@baller4life wrote:
@longtimelurker and Finstar. Their loss meaning a potentially good customer certainly not a financial loss because I know they couldn't care less. "Their loss" is simply an expression not to be taken literally. Geesh!! You guys make me not want to post anymore. Many of you carry such a challenging and confrontational tone. It was merely MY opinion!
No harm no foul
I don't think they meant any harm and you are a valuable part of this community like others so please continue to contribute
@baller4life wrote:
Thx myjourney. But certainly not the first, second or third time. I'm good keeping my opinions to myself. It's all good.
Baller I think you might be taking things a little too harsh. I have differed with many on here on a few things and it has always been amicable. The other posters just seem to disagree with you. I do as well, but that doesn't mean we don't value your opinion. The reasons I disagree with you is that many people are just sign-up bonus hunting. Not saying OP is doing that but as he said he's had his card SD for months and he just got in August. Looking at it from Barclays point of view, the guy just might be getting cards for the sign-up bonuses and SDing them. That's his right, but it's also Barclay's right to deny credit to people who aren't profitable. The OP hasn't shown that he would be profitable for Barclays.
@Rookies1000 wrote:
My wife and I applied for Barclay Arrival in the weekend. We both got the application pending review message. My wife got an approval email shortly after. I checked my app status online and saw it was denied.
So I called the back door number to recon twice but no luck. Both CSR said my accounts are too young but also said that I already have a Barclay reward card that they gave me in august 2013 and they can see I have almost never used it. (this was my credit builder card and I have put it in the sock drawer many months ago)
They told me they like to see more history from me and see me use the Barclay reward card more for 6-8 months before they will give me a second card.
Needless to say, I thanked them and cancelled my Barclay reward card right away as it seems to hurt me more having it.
My wife didn't have any business with Barclay when she got approved.
So no more Barclay for me. I'm sticking with chase who have given me 3 cards last year (CSP, freedom, united)
Here is the stats
Me: 755 TU (FAKO)
Income: 70k
AAOA: ~ 1 year
Oldest card: ~ 2 years
Always paid in full, no baddies
Wife: 720 TU (FAKO)
income: 30k
AAOA: 1.5 years
Oldest card: 3 years
With all things said - and I was trying to avoid giving unsolicited advice here - if you decide you want to reopen the card, you still might be able to do so.
@Rookies1000 wrote:
Thanks for all the comments. I cancelled the Barclay reward card from a strategic point of view. I can assure you that I was not bitter ;-)
I may and may not re-apply for Barclay card 6-8 months down the road and I think keeping the Barclay reward card hurts my chance more than good. My main interest is a travel card for airline redemption. I have both AMEX PRG, CSP + Freedom which I get benefits per dollars spent. (That's why I sd'ed the Barclay card to begin with)
There is no way I will direct my spending into the barclay reward card for 6-8 months to make it look good to them the next time I re-apply for the BC arrival, when my main interest is the BC arrival fixed reward structure.
So closing it now is better than being told "we can see you still haven't used our card since last application"
From my point of view closing a card soon after cashing in the sign-up bonus is not something that will help your future application(s) with the same CCC. I could be wrong though.
Rookies, I agree with your decision to close the card. I don't keep cards open that I don't have use for either.
Baller, I liked your posts. Barclays did potentially lose a great customer and myFICO forum member. Longtimelurker and Finstar both have a lot of credit cards and understand the points game better than most here. They are not strangers to flipping cards either, but were pointing out that the bank denying new credit is based on an estimate of profitability.
Also, btw, the bank is called "Barclays". And it rhymes with "cheese". They are all over the place here in Britain.
I know its strange that they call their credit card a "Barclaycard", but BoA also calls their card a "Bankamericard".
@Rookies1000 wrote:
Thanks for all the comments. I cancelled the Barclay reward card from a strategic point of view. I can assure you that I was not bitter ;-)
I may and may not re-apply for Barclay card 6-8 months down the road and I think keeping the Barclay reward card hurts my chance more than good. My main interest is a travel card for airline redemption. I have both AMEX PRG, CSP + Freedom which I get benefits per dollars spent. (That's why I sd'ed the Barclay card to begin with)
There is no way I will direct my spending into the barclay reward card for 6-8 months to make it look good to them the next time I re-apply for the BC arrival, when my main interest is the BC arrival fixed reward structure.
So closing it now is better than being told "we can see you still haven't used our card since last application"
Sorry to hear about the Arrival denial. I used a similar technique when they wouldn't approve me for a CLI or 2nd card (I had the average credit rewards card $750 limit at the time). I honestly cancelled it out of frustration, but 6 months after I cancelled it, I was approved for an Arrival ($10k limit).
Barclays isn't quite the size of Chase, so I think that plays a part in their conservative approach to approving multiple cards with them. While not impossible, 2 new (Barclays) cards per year seems to be their threshold.
Guess I am the lucky one here, got nfl card 2 years ago just for 200 bonus, went through 100 in two years, PC to Barclay's rewards last week.
Aply today get approved 10K today for arrival.
The tough part shall i keep CSP as AF bill on Jan 1st?