Do you think Barclay would approve me?

[tommywerdine]

Barclay declined me about 4 months ago for not having enough established credit, I'm not sure if they're approve me now, but I figured I may try mid march or begining of may... Before I do I want your opinion.

Last time I checked my scores (fico) they were as followed: 627 tu, 598 ex, 650 eq. i believe they have all gone up since...

AAoA (creditkarma) 2.5 mo.

Oldest Acct: 11mo

Util: around 16% but my reports dont reflect the payments I made a few days ago. 

No late payments. 

8 total accounts

No baddies.

Thoughts? Should I wait for my AAoA to go up a little more, or do I have a shot at one of their cards?

[grinlikechelsea]

Which card were you looking at?

[Jlu]

I remember Barclays wanting to see a minimum of 12 months payment history with another lender before approving me for anything. Of course they are the recon kings.. so YMMV. They'll pull TU which in the mid-600's should be good enough. Actually you never told us what card..? If it's the Ring hold off.. if it's a Barclaycard go for it.

[tommywerdine]

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@grinlikechelsea wrote:

Which card were you looking at?

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I was thinking the Rewards MC.

[grinlikechelsea]

Great choice. It's actually a pretty awesome card.

You'd have a shot at the Rewards for Average Credit (don't carry a balance on it; high APR). I would wait until your oldest account reaches 12 months before you apply though.

[tommywerdine]

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@grinlikechelsea wrote:

Great choice. It's actually a pretty awesome card.

You'd have a shot at the Rewards for Average Credit (don't carry a balance on it; high APR). I would wait until your oldest account reaches 12 months before you apply though.

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My oldest account is my car lease. I know they don't really count that.. so should I wait for my oldest CC to hit 12 mo?

[grinlikechelsea]

I would. Do everything you can to make sure your TU report is as pristine as possible because Barclays exclusively pulls TU. Just a heads up.

[tommywerdine]

Thanks! I'm trying to keep it flawless, I wish I could get it now!

[grinlikechelsea]

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@tommywerdine wrote:
Thanks! I'm trying to keep it flawless, I wish I could get it now!

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I know the wait is hard, but if you wait, you have a better chance not only at an approval, but a higher credit limit and better terms (if the APR is variable). With credit, it pays to wait every now and again.

[sailor_mercury]

I'm not exactly sure what their qualifications are for each product but Barclay's can be one of the more difficult ones to obtain.  I think you would be wasting a hard pull.  If you're interested I would wait until your accounts age and until you only have a couple of inqs.

I applied for the Sallie Mae card and got my rejection letter today.  Most of my accounts are more recent and I have some inquries. 

I apped with:

AAoA 4.5 years

Util 17%

Baddies: 5 paid state tax liens from 2007/2008

TU FICO 715

Reasons:

High Number of Inqs

High number of credit cards recently opened

Insufficient number of accounts