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Frequent Contributor
tonyaether
Posts: 341
Registered: ‎06-04-2011
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Re: Barclays credit Good or bad ??

I just got approved for the rewards MC with Barclays. I haven't received the card yet but when I do I will use it to autopay utility bills. You get 2% rewards for that all the time. For my citi, chase (most of the year) and Amex this would normally fall into the 1% other category. You also get 5000 points after your first purchase no matter the amount. In the case of citi, chase, and Amex I had to spend a certain amount to get the bonus. So if you look at it that way you can use it to maximize rewards.

Current Scores: 08/2013 EQ - 779(FICO), TU98 - 783(FICO ), TU08-818(Walmart FICO),EX PLUS-775 (FAKO) Credit Sesame - 804 (FAKO)
Wallet: Barclays Plat. Rewards MC $8.9k,Amex BCP $9.1k, CitiForward Signature $11k, Chase Freedom $3k,Target Visa $1.5k, Walmart Discover 7.5k, Delta Gold Skymiles Amex $2k
GOAL: 800 ACROSS THE BOARD!!!!
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Barclays credit Good or bad ??


tonyaether wrote:
I just got approved for the rewards MC with Barclays. I haven't received the card yet but when I do I will use it to autopay utility bills. You get 2% rewards for that all the time. For my citi, chase (most of the year) and Amex this would normally fall into the 1% other category. You also get 5000 points after your first purchase no matter the amount. In the case of citi, chase, and Amex I had to spend a certain amount to get the bonus. So if you look at it that way you can use it to maximize rewards.

+1

 

PAy all your normal high bills and rack them rewards up!!!!!




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
Frequent Contributor
tonyaether
Posts: 341
Registered: ‎06-04-2011
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Re: Barclays credit Good or bad ??

Exactly LS.  With rewards cards that is the only way to do it.  Keep activity on the cards by using each card's reward benefit to the maximum potential for your particular finances.  Right now I use Chase for gas but as soon as it passes in the rewards category I will switch gas to Amex. Movie theaters and grocery stores are the next categories for Chase so it will be a minimal quarter for them until gas comes back since Amex gives better rewards for groceries.  Citi isn't getting much action on it as it was strictly for the BT and I try not to make additional charges while the BT is there. Once that is paid off in July I will join it into the rotation. But the great thing on Barclays is I will always get a benefit from their rewards from the utilities option.  So it fit right in for me.  I don't know anyone that doesn't like free money on things they would be buying anyway!


Current Scores: 08/2013 EQ - 779(FICO), TU98 - 783(FICO ), TU08-818(Walmart FICO),EX PLUS-775 (FAKO) Credit Sesame - 804 (FAKO)
Wallet: Barclays Plat. Rewards MC $8.9k,Amex BCP $9.1k, CitiForward Signature $11k, Chase Freedom $3k,Target Visa $1.5k, Walmart Discover 7.5k, Delta Gold Skymiles Amex $2k
GOAL: 800 ACROSS THE BOARD!!!!
Contributor
GoingTo800
Posts: 91
Registered: ‎01-24-2012
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Re: Barclays credit Good or bad ??

Barclays is good in my opinion, they are a little shy on new accounts but can you blame them? What we do here with App sprees is not exactly "normal" behavior for a consumer. If they approve you based on a certain credit profile and you add a bunch of accounts right after then your entire profile has changed and it looks like your trying to gather a lot of credit in a short amount of time, generally speaking that is not good. We are usually the exception and not the norm
Equifax Feb 2012 690
TU Feb 2012 720
Established Contributor
Changingmantra
Posts: 676
Registered: ‎01-24-2008
0

Re: Barclays credit Good or bad ??


GoingTo800 wrote:
Barclays is good in my opinion, they are a little shy on new accounts but can you blame them? What we do here with App sprees is not exactly "normal" behavior for a consumer. If they approve you based on a certain credit profile and you add a bunch of accounts right after then your entire profile has changed and it looks like your trying to gather a lot of credit in a short amount of time, generally speaking that is not good. We are usually the exception and not the norm

Excellent points!

*Note to self* Remember why and for how long you had to rebuild in the first place! One Day at a Time, One Day at a Time!
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Barclays credit Good or bad ??


GoingTo800 wrote:
Barclays is good in my opinion, they are a little shy on new accounts but can you blame them? What we do here with App sprees is not exactly "normal" behavior for a consumer. If they approve you based on a certain credit profile and you add a bunch of accounts right after then your entire profile has changed and it looks like your trying to gather a lot of credit in a short amount of time, generally speaking that is not good. We are usually the exception and not the norm

+1

 

Great Post!




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
Frequent Contributor
bbb3601
Posts: 328
Registered: ‎01-26-2012
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Re: Barclays credit Good or bad ??

I love Barclays. For one, they are pretty darn solid since they have been is business since dirt was founded. Second I feel they are watching my back.  Most of us are here due to not being responsible with credit in the past,  and it is good to know someone may be watching over me instead of handing out thousands upon thousands in credit lines that I don't need.  Now I know lots of people need large credit lines for certain reasons, but at this point in my life I don't have hat need.  That being said, I have no doubt that if that time does arrive in my life (and I hold up my end of the bargain) Barclays will be there for me.  I will never forget that they, a PRIME BANK, took a chance on me.  Lastly their CS department makes me feel as if I am lending money to them!!

NFCU Cash Rewards 20,000,NFCU Plat 17,000, NavCheck 15,000, USAA Cash 4,000, USSA Rate Adv 2,000, USAA AMEX 3,500, Freedom 2,000, Capital One 2,000, Barclay's Apple 1,500, Barclay's Ring 1500, Various Store Cards.




Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Barclays credit Good or bad ??


bbb3601 wrote:

I love Barclays. For one, they are pretty darn solid since they have been is business since dirt was founded. Second I feel they are watching my back.  Most of us are here due to not being responsible with credit in the past,  and it is good to know someone may be watching over me instead of handing out thousands upon thousands in credit lines that I don't need.  Now I know lots of people need large credit lines for certain reasons, but at this point in my life I don't have hat need.  That being said, I have no doubt that if that time does arrive in my life (and I hold up my end of the bargain) Barclays will be there for me.  I will never forget that they, a PRIME BANK, took a chance on me.  Lastly their CS department makes me feel as if I am lending money to them!!


Lots of good Barclays posts today!! Refreshing!




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
Frequent Contributor
tonyaether
Posts: 341
Registered: ‎06-04-2011
0

Re: Barclays credit Good or bad ??


LS2982 wrote:

Lots of good Barclays posts today!! Refreshing!



+1 on that LS!  It's a nice change from the usual!


Current Scores: 08/2013 EQ - 779(FICO), TU98 - 783(FICO ), TU08-818(Walmart FICO),EX PLUS-775 (FAKO) Credit Sesame - 804 (FAKO)
Wallet: Barclays Plat. Rewards MC $8.9k,Amex BCP $9.1k, CitiForward Signature $11k, Chase Freedom $3k,Target Visa $1.5k, Walmart Discover 7.5k, Delta Gold Skymiles Amex $2k
GOAL: 800 ACROSS THE BOARD!!!!
Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
0

Re: Barclays credit Good or bad ??

[ Edited ]


I'd probably say they're quasi-prime. They're essentially a stepping-stone for people from non-prime lenders like CapOne to prime lenders like Amex and Chase. They have some at the very low end of prime, but their actions of constant softing people after opening an account doesn't describe a true prime lender.

 

Prime lenders typically show more faith to their cardholders or will simply deny them upon application if they have serious doubts. I know there are exceptions like Amex FRing a fresh applicant, but in general I think this holds. Barclays checks up on you frequently because of the typical client they have. A good number have screwed up their credit in the past, so they want to make doubly-sure people don't screw up again while using their cards.

FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
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Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL

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