Declined for Barclays Rewards, Recon:Denied! Recon:Denied! Recon:Denied a final time

[RTOrockstar]

So I probably shouldn't have even app'd for the Barclay Rewards for average credit but I went for it anyway and got denied. Then I called in 3 times for a manual review and was told pretty much the same thing each time: I need more time with the cards I have before they can consider me. Pretty sure the denial letter will say something different. They HP'd both TU and EQ as well. 

I'm not too tore up about it, but I wanted to break up the approval threads

[myjourney]

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@RTOrockstar wrote:

So I probably shouldn't have even app'd for the Barclay Rewards for average credit but I went for it anyway and got denied. Then I called in 3 times for a manual review and was told pretty much the same thing each time: I need more time with the cards I have before they can consider me. Pretty sure the denial letter will say something different. They HP'd both TU and EQ as well. 

I'm not too tore up about it, but I wanted to break up the approval threads

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Sorry to hear that wait on the letter and you will know what to work on best wishes

[indiolatino61]

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@RTOrockstar wrote:

So I probably shouldn't have even app'd for the Barclay Rewards for average credit but I went for it anyway and got denied. Then I called in 3 times for a manual review and was told pretty much the same thing each time: I need more time with the cards I have before they can consider me. Pretty sure the denial letter will say something different. They HP'd both TU and EQ as well. 

I'm not too tore up about it, but I wanted to break up the approval threads

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I will no longer apply for a Barclay's ANYTHING card! I was just denied with a 758 TU...the main reason being too many inquiries and get this...no recent cc balances. Really? Having zero balances is now a bad thing? Who needs them!

[enharu]

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@indiolatino61 wrote:

I will no longer apply for a Barclay's ANYTHING card! I was just denied with a 758 TU...the main reason being too many inquiries and get this...no recent cc balances. Really? Having zero balances is now a bad thing? Who needs them!

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I was denied by Amex with a 768 Experian FICO, does that mean I should no longer apply for anything Amex related?

The system HAS to generate 3-5 reasons each time a denial or approval w/o best rates is given. And the reasons are ranked in order of importance.

Sometimes, like your case and mine, reason #1 is enough to result in a denial. I had 5 inquiries on my EX within the last 6 months for auto loan shopping (total of 7 inquiries in past 24 months), and to me even reason #1 made little to no sense since those inquiries should be counted as 1 inquiry, but it is what Amex decided and they're well within their rights. I could either call recon to appeal the decision which could result in another HP, or I could just wait until those inquiries age and re-apply again. 

Reasons 2 to 5 in that scenario then would make little to no sense, but at least we get the big picture why we got denied.

As bitter as you and I might be about a denial, there's really nothing that can be done. From a logical standpoint, their actions made perfect sense. No lender is going to approve a new client, without any prior business relationship, who has racked up a lot of inquiries recently. Just try applying for Amex, Chase or any prime lender right now that you are not banking or have an account with, and see what happens.

[LS2982]

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@RTOrockstar wrote:

So I probably shouldn't have even app'd for the Barclay Rewards for average credit but I went for it anyway and got denied. Then I called in 3 times for a manual review and was told pretty much the same thing each time: I need more time with the cards I have before they can consider me. Pretty sure the denial letter will say something different. They HP'd both TU and EQ as well. 

I'm not too tore up about it, but I wanted to break up the approval threads

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Sorry to hear

Give it 6 months if your still interested in the card it may be enough time for them to come around to you!

[dddewdrop]

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@RTOrockstar wrote:

So I probably shouldn't have even app'd for the Barclay Rewards for average credit but I went for it anyway and got denied. Then I called in 3 times for a manual review and was told pretty much the same thing each time: I need more time with the cards I have before they can consider me. Pretty sure the denial letter will say something different. They HP'd both TU and EQ as well. 

I'm not too tore up about it, but I wanted to break up the approval threads

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     What were your fico scores when you applied, if you don't mind me asking?

[MovingForward_2012]

I'm sorry you were denied. Give it 6 months and then try again.

[SpecFile]

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@MovingForward_2012 wrote:
I'm sorry you were denied. Give it 6 months and then try again.

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+1

[LisaJ]

As far as I can tell, Barclays...

-is hypersensitive to inquiries, util, and new accounts

-weighs the amount of your current lines in their decision making for CL

-wants you to carry a balance somewhere

-Fico score does not counterbalance most of the above

That being said, (and I am not the first to say it by any stretch) it is really hard to compile anecdotals; we are but a random sampling on the interwebs, and always hear when a FR or AA occurs, but don't hear as often when it doesn't.

I'm sorry and surprised that you weren't approved.  I am guessing I would not have been if I had apped next month, as I got Amex and Discover slightly prior. I did NOT expect the CL I was given, and I probably wouldn't have apped Discover if I had any inkling of getting the card with the CL.  I am goign to guess that Chase was the gateway for this card, and Amercian Express.

I would definitey re-app in a few months if you want the card.  It does seem that the CAs are pretty on when they give you the advice of what to do.  Amex was a thron in my side for years; if I had not taken a chance on them again, they wouldn't have taken a chance on me.  And now they will be my oldest  reporting line due to backdating.

Don't give up, OP!  I know it's pride-bruising at times, but many of us have been there and have been the better for it.

[boomhower]

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@indiolatino61 wrote:

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@RTOrockstar wrote:

So I probably shouldn't have even app'd for the Barclay Rewards for average credit but I went for it anyway and got denied. Then I called in 3 times for a manual review and was told pretty much the same thing each time: I need more time with the cards I have before they can consider me. Pretty sure the denial letter will say something different. They HP'd both TU and EQ as well. 

I'm not too tore up about it, but I wanted to break up the approval threads

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I will no longer apply for a Barclay's ANYTHING card! I was just denied with a 758 TU...the main reason being too many inquiries and get this...no recent cc balances. Really? Having zero balances is now a bad thing? Who needs them!

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What is your overall file like?  If you have a thin file I can see it, the score isn't everything.  Not all 758's are created equal.  Barclay is also hyper hyper hyper sensitive about inquiries and new accounts.  That alone will get you a decline.