03-13-2012 10:25 AM - edited 03-13-2012 10:26 AM
Tried applying for Apple credit yesterday via Barclays and was immediately denied on the online application. They pulled TU with a score of 654. Here's a brief summary of my report:
AU on HSBC CC (8 years) - open & current
Capital One CC (10 months) - open & current
Capital One CC (8 months) - open & current
Discover CC (2 months) - open & current
Amazon Store Card (6 months) - open & current
Bank of America Auto Loan (6 months) - open & current
4x School Loans (reported 2010/2011) - closed & current
Bank of America CC (from 2008) - paid after chargeoff / collection
Capital One CC (from 2010) - paid after chargeoff / collection
Inquiries in past 6 months: 18 (I was shopping around for auto loan rates which is what most of these are from)
I attempted recon 3 times and was denied each time. After telling me I was doing a great job at building my credit, the reason they kept giving me was that there was not enough history on my new CC's and they typically like to see 1-2 years on each CC. The AU HSBC didn't help much because of the AU status. Any advice? Should I bother attempting again?
Sorry to hear that. I kind of have a hunch that Barclay's was very generous around the holidays, but has gone back to stricter guidelines again. You didn't mention your util -- that could be a factor as well. They are really concerned about getting too much credit at the same time as them -- even if it's right before. Your Discover is only 2 mos old. When I apped in November, I had gotten a card in March, April and June. And even then, the guy asked me why I was getting so much credit (!).
I'd recommend you don't app for anything between now and November and apply then. Also, be sure your util is <9% on ONLY one CC and zero on all of the others (or as close to 9% as you can get). You'll have more time since you opened your last card and they'll probably be in the giving "holiday mood" again.
(Checks to see if LS2982 is looking...)
If I had Discover in my wallet, I wouldn't even sniff Barclay...Apple financing or not
I smell an inside joke
She/he (confession time: I don't know which!!) LOVES Barclay like no other...and I have been pining for Discover since, well, forever!
03-13-2012 10:32 AM
Barclays is great with recons but given that you've tried three times and been told the same answer each time I would agree that you need to wait and let your accounts age positively for another 6 months or so and then reapply.
Thanks, looks like that's what I'll have to do.
I just did a fourth attempt, and again denied. The woman I spoke with went a little more indepth saying that due to how bad the baddies were (BoA CC $10k), they want to see more *new* history than what I currently have.
03-13-2012 10:33 AM
Just give it time.
But I bet by the time you gain ages with those balances, you might not want a Barclay's anymore.
Follow my financial journey: http://www.frugalrican.com
03-14-2012 02:44 AM
Anyone know what Fico model Barclays uses? My TU here is alot higher than my walmart Fico. I got a 675 here and like a 645 from TU08
The model here at myFICO is TU98.
04-30-2012 09:53 AM
I was personally thinking about getting an Apple Barclay VISA since I keep maxing out my CC when I buy Apple items $4k for MacBook Pro 17", $900 for new iPad with 4G, and the new iPhone.
However I filed a chapter 7 bankruptcy that was discharged in Dec. 2009. I have since rebuilt. EP 691, TU 980, but I had a Barclay Bank CC when I filed the BK with a 6k balance, and it says Account transferred to another lender Purchased by another lender Collateral: BANKRUPTCY
Not sure if they would even consider me for another one. what is your thoughts.
04-30-2012 02:36 PM - edited 04-30-2012 02:38 PM
Was wondering how you applied for this, but found the page:
There's also an iTunes Rewards Visa... lol.
04-30-2012 02:39 PM - edited 04-30-2012 02:40 PM
02-17-2013 06:49 AM
Hi, most of your car loan inquiries should be removed from your CRs. They are not allowed to put inquiries for the same purpose if they happend within a 45 day period. Call each of them, TU, EQ, Ex and ask them to remove.
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