10-16-2012 06:02 PM
I applied for the Ring in order to get the 8% for the holidays at least until my Christmas club check comes in I'd like to start holiday shopping now--pay later. They declined me. My scores listed below are pretty recent. Never any baddies ever. UTL is 7%. I called to recon and was told that I was declined based on the fact that my AAOA was only 3 years and I opened 4 new accounts this year. I pleaded with them--no go.
I then gently called back, asked for a supervisor. She came on and she reviewed my application. She said we just simply need to see more history. I asked her to take my non-revolving history into consideration since I only got credit cards after purchasing my home of many years because of what the broker advised later in life. She said no even though I've been paying on a home loan and car note without any lates ever that did not help with their decision process. I explained that I had an AMEX (more than one), several lenders. I also had an explanation for the recent accounts--store cards for 0% interest ie Lowes for appliances. NO GO.
I'm a little baffled because I always hear success stories about recon with Barclays and people getting approved with baddies, little to no history, etc. I mentioned that to her and she said don't trust anything anyone tells you. I told her that I applied in past with them and was declined. It seems based on my socioeconomic status or other factors including zip code Barclays does not like me. She said nonsense. Either way I left the conversation with a big fat NO. I think I had some good arguments, but in the end she wouldn't budge. Oh well. I didn't need them. Called Discover who lowered my APR and gave me an offer for 6 months 0% interest. Love me some DISCOVER!! You can always count on them!
10-16-2012 06:06 PM
You don't want a Barclays card...nothing but headaches...had mine from Dec 2011 to today
Started with 1700 CL, they increase 9 months later to 3500...thats fine and dandy but....
I started making larger payments 900 at a time every 4 or so days and they held (3) consecutive payments for 5 days each. I could not use my card at all and they would not remove the holds.
I have spent 60k with Amex over the years and 15k with Citi, never a single payment hold on any credit card I have had in my life other then with Barclays. I hate them now. You are not loosing anything by them declining you.
I threw my card in my sock drawer
10-16-2012 06:17 PM
That is odd. I had less than two years of revolving history (two store cards) and was able to get it, despite Barclays being the last card that I opened after opening several accounts. I told them it was just me establishing credit and they were fine with it. You can always try again in a few days.
10-16-2012 06:20 PM
that is odd, I've heard nothing but praises for Barclay's recons...
10-16-2012 06:30 PM
10-16-2012 06:32 PM
10-16-2012 06:33 PM
I know. I should have been approved. They have to be basing it on my zip code or some unknow (and undisclosed) reason other than those given.
10-16-2012 07:01 PM
I can see how 4 brand new credit lines this year alone could be a toss up especially if they all were very recent but, then again you have soild scores.
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
10-16-2012 07:57 PM
10-16-2012 08:30 PM
The four new accounts may have factored into it a bit, Barclays can be hyper sensitive to new accounts prior to or directly after apping with them it seems
Sorry you didn't get approved, they hate me too so you are in good company!
Other lenders in the sea.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.