Questions:
CreditKarma reviews make it seem like this is a subprime card with people getting approved in the high 500s low 600s and only a few people reporting scores in 700s. Is it a subprime card?
Because his score is good, could this make it less likely for him to get the card? Still a relatively low AAoA of 11 months with credit history of 1 year 3 months. Most recent inquiry was in June for Discover and one last year from Capital One.
Also, will this card hold true to Barclay's inquiry/New credit sensitivity for 6 months after?
Thanks everyone!
Just kidding! haha
you may want to be careful saying that to someone who lives near minutes away from MetLife Stadium 
lol
trumpet-205 wrote:You do know that pre-approval and pre-selected means very little right? Often time what you have is a lender asking a CRA to produce a list that meets generic (very generic) requirement. Lender takes that list and mail these so called "pre-approval" to everyone on the list.
Another tip, ignore credit score when you have thin file. Credit score is absolutely meaningless when it comes to thin file. You can have FICO of 750+ and AAoA of less than 2 years. High credit score doesn't make up the fact that you have thin file.
Most of Barclays are very hard to get for those with thin files, with the exception of Apple Visa and iTune Visa. However if the term offers 24.99% APR on purchase with no introductory APR offer, then it is a easy card to get.
Yeah, I do realize the big difference between the two, which is why i want to read over the paperwork to see which it is! And his credit file isn't terribly thin, so he should be fine! I've seen people with much thinner files getting approved for AMEXs and such. I think the APR is relatively high, but not terrible, and tons of people seem to be getting approved with 600s, so I will look into it more. Thank you for your response!
trumpet-205 wrote:
daybreakgonesXe wrote:Yeah, I do realize the big difference between the two, which is why i want to read over the paperwork to see which it is!
Both pre-approval and pre-selected are meaningless. Neither one has higher weight vs the other.
And his credit file isn't terribly thin, so he should be fine! I've seen people with much thinner files getting approved for AMEXs and such. I think the APR is relatively high, but not terrible, and tons of people seem to be getting approved with 600s, so I will look into it more. Thank you for your response!
I see a lot of approval with AMEX charge card, but very few thin file for AMEX credit card.
It's weird...some people say preapproval and preselected mean nothing, but others claim that preapprovals, though not guaranteed because your credit can change, will more than likely result in an approval compared to if you app'd on you're own. It is possible that it can vary by creditor, just a stroke of luck, etc. We will see!
And yes, I agree with the charges for thin files compared to the credit cards through AMEX. Charge cards are always easier to get, whether it be AMEX, stores, etc.
Barclay's seems to be a great company, but they may be like Capital One in which they cater to different consumers in the market (Capital One offers prime and subprime cards). https://www.creditkarma.com/creditcard/CCBarclays1
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