Reply
Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
0

Re: Barclays Apple Denied....recon help


IWOL wrote:
Lack of banking relationship- this one is strange......does this mean I should have a bank account with Barclays.

Pretty irregular denial.  "Lack," as in with Barclays?  Or, in general?

Valued Contributor
Epcot
Posts: 2,784
Registered: ‎10-10-2012
0

Re: Barclays Apple Denied....recon help

That's crazy. Hope the recon goes well, keep us updated!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 809 EX 774 TU 805
App free since 4/11/13
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Barclays Apple Denied....recon help

I'd be beyond shocked if you were denied on recon.  Good luck.

Contributor
SnowBowl
Posts: 135
Registered: ‎01-24-2013
0

Re: Barclays Apple Denied....recon help


Open123 wrote:

IWOL wrote:
Lack of banking relationship- this one is strange......does this mean I should have a bank account with Barclays.

Pretty irregular denial.  "Lack," as in with Barclays?  Or, in general?


I am thinking he needs to get Juniper account ... I have that and it seems to be easy for me to get Apple Visa.


Starting Score: 680
Current Score: MyFICO 721 Credit Karma 692 Discover IT 698 WM 698 Discover 1K merrick bank 2.9K Juniper 4.6K Apple Visa 3.2K WM $1.4K and couple of other accounts I forget off hand.
Goal Score: 740 and a Visa Siggy 5K+ CL


Take the myFICO Fitness Challenge
Established Contributor
IWOL
Posts: 572
Registered: ‎12-17-2012
0

Re: Barclays Apple Denied....recon help

Bump....I updated my post, but it didnt bump the thread.



src=http://i1350.photobucket.com/albums/p780/ilanj/imagejpg1_zps2004ecdb.jpg"
Moderator
09Lexie
Posts: 25,350
Registered: ‎09-13-2012
0

Re: Barclays Apple Denied....recon help

Sorry about the denial. I knew they were sensitive to new accounts/inq's after the account is opened (the dreaded AAOA) it appears that they are wary of too many new accounts and inq's in the past 12 mos.
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Barclays Apple Denied....recon help UPDATE


IWOL wrote:
So I applied for the Barcleys Apple last week. I was planning to purchase a Mac Air and thought I would take advantage of the 0% interest offer.

My Fico TU is 683.....I guess they use the same TU version as My Fico cause letter shows exact same score. Utilization is at 23%, AAoA is 3.9 years, 2 inquiries on TU. Income is 95k

I was really surprised to get declined. Received the decline letter today and it gave the following reasons for denial:

Low access to credit - don't get this one, Util is 23% and my total CL,s are 33,650.....so 25k available credit
High Debt Obligation - total debt showing 8k credit cards and 25k on auto loan. I've just recently started to figure out when each card reports to CB,s so next month should show under 9% Util.
Lack of banking relationship- this one is strange......does this mean I should have a bank account with Barclays.

I will call to recon on Monday.. Any suggestions in regards to denial reasons?

UPDATE: Called Barclays,s to recon this morning and I was denied. The CSR asked a lot of questions about my report......why I was carrying a blance on 3 cards( had 3 balances reporting out of 9 cards) 23% overall Util. Also asked about my paid First Premier charge off from 2008 my only baddie. Anyways she put me on hold and came back and said they are declining my app for too many new accounts(opened Amazon, Macy's and Lowes) in the last 4 months and too many recent inquiries( 3 on my TU)

I'm not that disappointed as I don't really need the credit, just wanted to take advantage of the no interest financing on a Mac Book Air I was planning to buy.

The CSR never mentioned during the call that they would be doing another hard pull but I got an alert soon after from Experian monitoring that I had a hard pull from Barcley,s. Now the decline makes more sense because I had only 3 inquiries on TU but I had 12 on Experian from car shopping and a few other apps. I'm pissed that they did not inform me that they were going to do another hard pull on Experian, I would have declined to do the recon if I knew that. Do I have any grounds to ask them to remove the hard pull on EX since I was not informed that they would be doing it?

I'm going into the garden now and won't be apping again for a while till my reports are clean in 2015.....

Unfortunately not, you were applying for new credit and the ycan pull one, two, or all three reports to make a decision on it.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+