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Barclays ????

Senior Contributor

Re: Barclays ????

Im fairly certain that while fico doesn't punish you for multiple auto loan inqs, creditors do!!

I'm scared to death of Barclay's and Amex myself, and in the past year I've openes both. Hope they don't close me. Oh well, I pay my bills on time always,and even though I have the Amex BCE, I pif!!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor

Re: Barclays ????

Young if barclays havent closed you then I dont have nothing to worry about. You have opened several new accts lately. I feel like I really have hope now

Established Contributor

Re: Barclays ????


Credit314 wrote:

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?


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Current Score (9/3/15): Wally TU 639 | Amex EX 628 | DCU EQ 639
Goals: Homeowner as of 9/27/2013. Last app 8/1/15. TU-5; EX-16; EQ-13. Aiming for ZERO inqs.
Established Contributor

Re: Barclays ????

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- $5,400 | Chase Freedom - $8,000 | Chase Freedom Unlimited- $13,000 | Chase Amazon -$5,000 | Priceline Visa -$10,000 | US Bank Cash+ - $18,200 | Fidelity Visa -$10,000 | Sallie Mae- $10,000  | DCU Platinum $12,000 | Discover IT - $10,000 | Amex EveryDay - $25,000  | Amex BlueCash Everyday- $9,800 | Citi DoubleCash - $18,000 | Sapphire Preferred- $13,000 Freedom Unlimited$7,000 Blispay$12,000 | Chase Sapphire Reserve- $18,000 | Consumers Credit Union Visa Sig Cash Rebate$25,000

Community Leader
Valued Contributor

Re: Barclays ????

Hey All!

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.


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Highlighted
Valued Contributor

Re: Barclays ????

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.