11-02-2012 07:02 PM
11-22-2012 11:44 AM
I have a serious question.
I was approved for the priceline card with barclays about 5 weeks ago. Since then I have gotten approved for 2 with the possibility 3 cc's within the last 48 hrs. Now knowing how bad barclays are with new accts. Should I just call and closed the barclays acct to avoid it saying " closed by creditor" or just take the chance and hope I slip by?
I dont want to mess up my credit when I just cleaned it up.
Hi all, I'm new here and just got approved for the NFL extras card. What's the problem with Barclays and new accounts?
11-22-2012 11:48 AM
From what I've read Barclays doesn't like it when people open new accounts and they aparently will close tradelines is the rumor. I want to app for fidelity amex but am a little nervous about barclays just opened the card a week or so ago.
Capital One Quicksilver- $4,000 (Thanks Cap1 Executive Office <3) | Chase Freedom $2,100 | Chase Amazon $1,000 | Priceline Visa $10,000 | US Bank Cash+ $7,000 | Fidelity Amex $10,000 | CSP $5,000 | Sallie Mae $10,000 | Walmart $15,000 | DCU Platinum $12,000
Current Scores TU- 10/03/13 700 EQ-09/27/13 709 EX- 7/24/13 692
11-22-2012 12:14 PM
Barclays, contrary to popular belief is a conservative lender with practices that they believe helps them with default problems. Many on this forum are approved through recon because they are very good about giving you a chance if you can explain yourself to an analyst. The flip side is that they will AA you if they feel you are acting in a way that they deem irresponsible credit habits. ( this is not rumor, it's been documented many times on this forum ). Rule of thumb- don't app for anything for 6 months if you were marginal in your approval.
If you've already taken some apps since their approval, lay low and don't app anymore. Don't close the account. You've already taken the hit on inq- let them make the decision about AA.
With regards to Amex, quit worrying and quit apping. They are a pretty easy lender to deal with as long as nothing crazy shows up on your reports and you don't spend more then what they deem above your ability based on your internal profile with them. Enjoy using the card treat them like you would a new pair of shoes. Work them into your spending profile.
11-22-2012 12:24 PM
Also, Barclays is in a lot of trouble with US and UK regulators facing a record $470M fine (for manipulating CA energy markets) from the US after being fined $451M in June (the LIBOR fixing scandal). So they may become even more conservative in their credit card business to reduce risk and preserve earnings.
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