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How to recon "Too many new accs" for Barclays CC?

Established Contributor

How to recon "Too many new accs" for Barclays CC?

Hi guys

 

I just applied for the Barclays Travelocity Amex card and called today to know the status of it.

 

the lady said I was fine in everything, but, I had too many new accounts open the last YEAR!!!    9 she said.

 

I tried to make my case but she did not bite it!

 

any help so I can call again and hope to get a different csr?

 

Thanks!!!

 

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 1 of 18
17 REPLIES
Mega Contributor

Re: How to recon "Too many new accs" for Barclays CC?


zerobacan wrote:

Hi guys

 

I just applied for the Barclays Travelocity Amex card and called today to know the status of it.

 

the lady said I was fine in everything, but, I had too many new accounts open the last YEAR!!!    9 she said.

 

I tried to make my case but she did not bite it!

 

any help so I can call again and hope to get a different csr?

 

Thanks!!!

 


Do you have good explanations for these accounts??? I would crack at it one more time then let it go. Good luck!!!




EQ FICO 548 3/3/16
Message 2 of 18
Super Contributor

Re: How to recon "Too many new accs" for Barclays CC?

You could always try explaining why you opened so many, such as for rewards etc.

What is your utilization? If you are close to 0% util, you can also further explain that you opened so many purely for rewards, not for stacking your utilization ratio and u been making it a point to owe almost no debt. Usually a big plus
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 3 of 18
Established Contributor

Re: How to recon "Too many new accs" for Barclays CC?

my explanation was "im trigger happy app addict" Smiley Very Happy

 

For real I said "I recently learned that saying yes to every csr asking me to open this and that card to get a % off my buy is not healthy"

 

any thing better or something that has work for you guys?

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 4 of 18
Mega Contributor

Re: How to recon "Too many new accs" for Barclays CC?


zerobacan wrote:

my explanation was "im trigger happy app addict" Smiley Very Happy

 

For real I said "I recently learned that saying yes to every csr asking me to open this and that card to get a % off my buy is not healthy"

 

any thing better or something that has work for you guys?


That was probably the wrong thing to say Smiley Very Happy

 

I would go with the rewards angle if your util is low. 




EQ FICO 548 3/3/16
Message 5 of 18
Super Contributor

Re: How to recon "Too many new accs" for Barclays CC?

The most important thing you need to convince recon is that you are not pyramiding debt or stacking CL to mask your debt to income ratio. They just want to make sure you can pay your debt back on time without any issues. Having a 0% or close to 0% util ratio is usually a very good explanation for this. If not just try to think of reasons where you can convince them you have no problems paying your debt back
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 6 of 18
Super Contributor

Re: How to recon "Too many new accs" for Barclays CC?


zerobacan wrote:

my explanation was "im trigger happy app addict" Smiley Very Happy

 

For real I said "I recently learned that saying yes to every csr asking me to open this and that card to get a % off my buy is not healthy"

 

any thing better or something that has work for you guys?


They told me there were too many recently account opened.  I told them I was looking for rewards card to replace my current no rewards cards. They accepted my explaination and gave me approval for the card.

 

 

Ron.

Message 7 of 18
Established Contributor

Re: How to recon "Too many new accs" for Barclays CC?

My uti is about 20% she noted that when i first app for barclays on jan, i had a 80% uti. Then she asked me why i had 9 new acc and my answer wad lame...

I think if i take a look at my report and see what r these 9 acc i can explain them better i think i refid my car twice in the lasy year thats 2 acc and i got a couple of store cards... Keep the advise coming ill call later today better inform now
Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 8 of 18
Established Contributor

Re: How to recon "Too many new accs" for Barclays CC?

Ron that is a.good one!
Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 9 of 18
Senior Contributor

Re: How to recon "Too many new accs" for Barclays CC?


zerobacan wrote:
My uti is about 20% she noted that when i first app for barclays on jan, i had a 80% uti. Then she asked me why i had 9 new acc and my answer wad lame...

I think if i take a look at my report and see what r these 9 acc i can explain them better i think i refid my car twice in the lasy year thats 2 acc and i got a couple of store cards... Keep the advise coming ill call later today better inform now

I'd say this is going to be very borderline.  Creditors do not fancy that many new accounts open in such a short period of time, even if your best explanation is "better rewards".  Of course, everyone's experience does/will vary ... good luck.

Message 10 of 18