Barclays Approved - Recon Initial $750 CLI?

[Jasir]

I just received email stating that last night's app for Barclaycard Rewards MC was approved with an initial CL of $750. I am considering reconning for double the limit, but lets take a look at my credit profile:

Other accounts: Walmart Credit ($500 CL - opened June 2013); Bank of America ($500 CL - opened April 2013); Capital One Secured ($300 CL - opened June 2012)

Utilization: about 12%; perhaps as much as 19% on report

Inquries: estimated 10 to 12 (6 or 8 in June from new apps and CLI requests & joining PSECU)

Pending approval: Chase Slate & Capital One Cash Rewards

Denied recently: Bank of America 123 unsecured (last night; will recon); Discover (June) & Citibank (May)

Scores: TU = 615; EX & EQ estimated at 600 or higher (TU is my worst report)

Baddies: 1 collection in dispute on all 3; perhaps one charge off (same company as disputed collection); 5 defaulted school loans, paid; TU only - one judgement

I think that's it. Should I ask for the credit limit icrease to $1500 or just leave well enough alone and tend to my garden? Those horror stories of having accounts closed are scarying me, lol!

Thanks for input!

[navigatethis12]

Since they gave you the highest limit of your cards, I would say no.

[Open123]

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@navigatethis12 wrote:

Since they gave you the highest limit of your cards, I would say no.

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+1

Also, currently, for some reason, Barclay appears very "jittery," for a lack of a better word.  They seem to scaling back on approvals and limits.  This either because they were late to the sign up rewards game and being reactive, or losing the US Air rewards to Citi post merger.  Maybe they've bought a large amount of non-refundable US Air miles they've got to purge?

Either way, for the time being, I'd leave Barclay alone for a while.

[Jasir]

Thanks for the advice! I'll sit on it & garden awhile (well, after I recon BOA & see what happens with Cap One & Chase).

[09Lexie]

Congrats! I agree with the others- with the recent inq's/accts you don't want them to look at the 'approval' again.

[Jasir]

Ok. I reconned with BOA (no go, want to see more history with their secured card); called Cap One EO (got AF faved on secured card, unsecured app still pending) and called Chase (still in verfication stage, will get decision in 10 business days).

All that to say if Chase or Cap One denies me credit I will not recon. I am officially gardening at least until June 2014, perhaps as long as June 2015.

Happy to just let my newest acquisitions age like fine wine.

Thanks for the words of wisdom!

[09Lexie]

Fingers crossed for Chase and Cap1. I definitely wouldn't wait 10 days for Chase. Try back tomorrow or Friday