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How difficult is it to get approved for this card? My credit scores are in my sig. Was out of the credit card game for about 10 years until I was pre-approved by mail for the Discover IT last september or so. Since then I have added Chase Freedom, Chase Amazon Rewards (closed already), and Amex BCP. My income is sub 13k, not sure how much that will factor in. Util is a bit high at 28% but have been paying that off. Went on vacation where I did most of the spending. Just wondering if I have a chance at qualifying, not sure I want to risk the HP.
You should be fine.
@Anonymous wrote:How difficult is it to get approved for this card? My credit scores are in my sig. Was out of the credit card game for about 10 years until I was pre-approved by mail for the Discover IT last september or so. Since then I have added Chase Freedom, Chase Amazon Rewards (closed already), and Amex BCP. My income is sub 13k, not sure how much that will factor in. Util is a bit high at 28% but have been paying that off. Went on vacation where I did most of the spending. Just wondering if I have a chance at qualifying, not sure I want to risk the HP.
You scores qualify you (they pull TU 99% of time), although income is on low end. Not sure how income would factor into the Ring card.. I got approved with around a 690 TU FICO at the time if I remember right. Util is a bit high, but don't think that will really freak barclay's out.. Hardest variable for me is the income, might just get a low cl? Others can way in on this one... It is their toughest card to get IMO, but think you have a shot although I would try to get your utilzation down to sub 20% at least..
@CreditCuriousity wrote:
@Anonymous wrote:How difficult is it to get approved for this card? My credit scores are in my sig. Was out of the credit card game for about 10 years until I was pre-approved by mail for the Discover IT last september or so. Since then I have added Chase Freedom, Chase Amazon Rewards (closed already), and Amex BCP. My income is sub 13k, not sure how much that will factor in. Util is a bit high at 28% but have been paying that off. Went on vacation where I did most of the spending. Just wondering if I have a chance at qualifying, not sure I want to risk the HP.
You scores qualify you (they pull TU 99% of time), although income is on low end. Not sure how income would factor into the Ring card.. I got approved with around a 690 TU FICO at the time if I remember right. Util is a bit high, but don't think that will really freak barclay's out.. Hardest variable for me is the income, might just get a low cl? Others can way in on this one... It is their toughest card to get IMO, but think you have a shot although I would try to get your utilzation down to sub 20% at least..
Thanks for the reply! CL isn't a concern for me considering my highest CL of the 3 cards I have is 2500 on the Amex BCP. 3 times more than the next highest. Will probably wait a month or 2 to get util down and some more history on the other cards. Was also looking at chase sapphire preferred but pretty sure my income is way below their minimum, unless I can get 1 or 2 of my cards above 5k CL, then maybe they will look past the income.
Also of concern is the APR. My other cards will be above 20% once the 0% intro APRs run out. Not that I will be carrying a balance on them, but still. I would like the Ring for the low APR if God forbid I ever need to have a card to carry a balance.
@baller4life wrote:
Ring is only 8%. No higher,no lower. Your income may be the only issue. Only one way to find out.
Ugh, peer pressure.
@baller4life wrote:
Ring is only 8%. No higher,no lower. Your income may be the only issue. Only one way to find out.
I agree!
In my wallet: Venture 15k; Barclay Ring 12.5k; Discover 10k; CareCredit 7.7k; Amazon Store Card 5k. QS 5k; Band of A Travel Rewards 3.5k; Bank of A Travel Rewards 3.5k; Bank of A Platinum Visa 2k; Barclay Apple Rewards 2k. Total Credit: 66,200. 7/2-FICO: EQ - 788; TU - 777; EX - 690; Utilization: 12%; GOAL: 780 across the board then 800 across the board. Inquiries: EQ: 5 TU: 7; EX 3; Chapter 13 seven years May, 2015. Reset my garden date to 6/27. Gardening until further notice.
Income will factor in with regards to how much of a credit line they will extend you. I remember reading something in the Barclay's Community where they posted a chart on how they determine credit lines, and income was one factor. I think you will get approved, but maybe with a lower starting limit. I had an extremely thin file when I was approved. All you can do is try it and see. If you do go for it, post back and let us know the results.
APPROVED! 1900 CL...... thanks for the feedback everybody!