Reply
Established Member
Posts: 27
Registered: ‎05-27-2009
0

Re: Best Strategy for New Barclays Card Auto CLI within 6 Months

[ Edited ]

Greetings, I just wanted to update on the Barclays card CLI and it has been roughly 7-8 months since I received the card. I went ahead and applied for CLI by pressing the online button and was subsequently denied. The next logical step was to call the backdoor number and after some conversation was also denied.

 

I know I spend much more than $500 a month and was denied from every single one of my credit card providers although I have been keeping my utilization low by paying full before the due date and not maintaining a revolving balance. I think the reason is because I had recently received a loan on a new $30,000 vehicle 2 months after I received the barclays card, plus I am a student and my student loans show up on my credit report.

 

Instead of crying about it I went ahead and applied for a Discover card, and although I was denied an unsecured card they gave me an opportunity for a secured card and so I went ahead and took matters into my own hands and made a one-time deposit/credit limit of $2,000, which is 4 times more than the barclays card and will be enough for my monthly spending needs for now.

 

I have a feeling that when I do this that the other credit card companies will follow suite and raise their limits, because  these companies are drones that follow formulas, and since they see I have a higher limit they will assume that I can handle more money. Additionally, life is too short to wait another 6 months to a year and I won't be using those cards any more until the credit card companies raise my limit.

 

All my credit cards before my new discover card equaled to $2,750. I predict that a new card at $2,000 will most likely raise my credit by at least 20 points within the next few months and bring me over the 700 Fico threshhold.

 




EQ: 685 TU: TBD
EX: TBD
Goal:
700

Take the myFICO Fitness Challenge

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.