Middle tier cards? And Barclay question..

[s73guy]

According to what I have read here on myFICO auto loan inquiries within a certain period of time (about 14, 30, or 45 days, but varies by CRA) are counted as only one inquiry.  They expect people to shop around for the best interest rate on car loans, so they don't count them individually.

Here is the link to the webpage:

<<http://www.myfico.com/crediteducation/creditchecks/inquiries.aspx>>

EDIT:  For some reason when I click on the link it doesn't bring me to the correct webpage.  If you copy the link into your web browser then you will go to the right page.

[Cookie2120987]

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@GooseGirl wrote:

Cookie, what makes you have the freedom next on your list? I'm just curious as I am also researching and trying to decide what the best next step is for my rebuild. For me, I think I really want to try to get an Amex in December. The reason for wanting it by December is to be able to maximize backdating for future cards. I think that future benefit may be of more importance to me that the rewards I might gain in the short term from a different card.

Since I'm still fairly new to managing my credit and finances as opposed to letting them manage me I was interested in your thoughts regarding your cards.

Also, I can add that I am another person who obtained Barclay at the same time as 2 other cards and I haven't seen any adverse action from it. I keep my utilization reporting under 10% though and PIF; maybe that has had a positive impact.

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To be honest, I've always wanted the chase freedom, and also the rotating 5% is good as well as the 1% on everything back. Pretty much want it strictly for those two reason, I have set my eyes upon the new SAMs club MasterCard, looks very good compared to what I spend! I want a AMEX card as well, but I don't fly and I'm trying to eat out less, so I really haven't seen any of there's besides the blue cash everyday that would nessicarly benefit me right now. Now if a few years down the road I continue to climb the ladders than I will need a card for constant flying! 

[longtimelurker]

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@Cookie2120987 wrote:

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@GooseGirl wrote:

Cookie, what makes you have the freedom next on your list? I'm just curious as I am also researching and trying to decide what the best next step is for my rebuild. For me, I think I really want to try to get an Amex in December. The reason for wanting it by December is to be able to maximize backdating for future cards. I think that future benefit may be of more importance to me that the rewards I might gain in the short term from a different card.

Since I'm still fairly new to managing my credit and finances as opposed to letting them manage me I was interested in your thoughts regarding your cards.

Also, I can add that I am another person who obtained Barclay at the same time as 2 other cards and I haven't seen any adverse action from it. I keep my utilization reporting under 10% though and PIF; maybe that has had a positive impact.

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To be honest, I've always wanted the chase freedom, and also the rotating 5% is good as well as the 1% on everything back. Pretty much want it strictly for those two reason, I have set my eyes upon the new SAMs club MasterCard, looks very good compared to what I spend! I want a AMEX card as well, but I don't fly and I'm trying to eat out less, so I really haven't seen any of there's besides the blue cash everyday that would nessicarly benefit me right now. Now if a few years down the road I continue to climb the ladders than I will need a card for constant flying! 

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I wouldn't count the 1% on everything else on the Freedom as an advantage, it's sort of the lowest reward level you can get, and your QS One already gives you more.  The 5% is good if you can use it each quarter.  I personally prefer non-rotating cards (so I can go for a card that matches my spend, rather than an issuer randomly deciding which ones to reward!) but a lot of people like them.   Freedom is also good if you later get a transfer card, like the CSP or Ink Bold, as you can move points from the Freedom to them, and then transfer to hotel/airline/etc partners.

For those wanting a no-fee Amex credit card, the new Everyday seems pretty good

[lonelyisland]

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@Cookie2120987 wrote:

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@Closingracer99 wrote:

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@lonelyisland wrote:

Barclay gave me a card ($1800) when my FICO (from here) was 579.

I used it for all my gas and grocery - about $500/month for gas and $300 for grocery - mostly paid in full. 

After the Barclay, I opened 3 (comenity) cards, but kept my overall util under 30%

They auto increased me (to $3500) at 6mos when my score was 639

(I have since moved some of that $3500 CL to the Sallie Mae card. )

If they are going to punish for new CLs,  they will have a another chance soon.  I just went on a "spree", and got a 2nd Barclay, a Discover, Chase and Amex card. 

If they choose to lose a good customer and reduce my 5,000 in CL for this, I will miss the rewards, but I'll be okay, the new cards I got are great CLs and IRs. 

While I think people are getting Chase, Discover etc with mid 600s, I think the limits are pretty low, and increases dont seem to come that fast. 

I would just try for the Barclay for now, and wait until you get close to the 700s for the rest. 

Good Luck!

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+1

I got a Discover card with no Credit history and got a $750 CL.  Got my Freedom with a $3500 limit with scores in the upper 600's, low 700's 

I talked to discover yesterday and they said I couldn't get the secured at this time due to a whole $118 collection, I explained to her what happened even though it said it wasa is over a year ago and she said if I could get it removed I'd qualify for the card. I also have 2 accounts that say 120 days late from student loans which have been being paid on time and are out of deferment for over a year now. How do you think Barclays will feel about that and 24 inquiries lol.. (Most from a auto loan and house searching)

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I am honestly not sure about the collections accounts and 120 day lates.  My bad stuff was older than a year out when I applied. While Barclay has been said to be inq sensative, I think its in relation to other CCs - and I would imagine if denied soley on the basis of auto / home INQs (and not the collections) then you could call to recon.  Do you know which credit report has the bulk of your INQs? Barclay seems to pull TU most often. 

[Cookie2120987]

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@lonelyisland wrote:

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@Cookie2120987 wrote:

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@Closingracer99 wrote:

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@lonelyisland wrote:

Barclay gave me a card ($1800) when my FICO (from here) was 579.

I used it for all my gas and grocery - about $500/month for gas and $300 for grocery - mostly paid in full. 

After the Barclay, I opened 3 (comenity) cards, but kept my overall util under 30%

They auto increased me (to $3500) at 6mos when my score was 639

(I have since moved some of that $3500 CL to the Sallie Mae card. )

If they are going to punish for new CLs,  they will have a another chance soon.  I just went on a "spree", and got a 2nd Barclay, a Discover, Chase and Amex card. 

If they choose to lose a good customer and reduce my 5,000 in CL for this, I will miss the rewards, but I'll be okay, the new cards I got are great CLs and IRs. 

While I think people are getting Chase, Discover etc with mid 600s, I think the limits are pretty low, and increases dont seem to come that fast. 

I would just try for the Barclay for now, and wait until you get close to the 700s for the rest. 

Good Luck!

---

+1

I got a Discover card with no Credit history and got a $750 CL.  Got my Freedom with a $3500 limit with scores in the upper 600's, low 700's 

I talked to discover yesterday and they said I couldn't get the secured at this time due to a whole $118 collection, I explained to her what happened even though it said it wasa is over a year ago and she said if I could get it removed I'd qualify for the card. I also have 2 accounts that say 120 days late from student loans which have been being paid on time and are out of deferment for over a year now. How do you think Barclays will feel about that and 24 inquiries lol.. (Most from a auto loan and house searching)

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I am honestly not sure about the collections accounts and 120 day lates.  My bad stuff was older than a year out when I applied. While Barclay has been said to be inq sensative, I think its in relation to other CCs - and I would imagine if denied soley on the basis of auto / home INQs (and not the collections) then you could call to recon.  IDo you know which credit report has the bulk of your INQs? Barclay seems to pull TU most often. 

Thankfully my 120 days late and the such are over 2 years old, not hurting me nearly as much as the collection which is 14 months old. Transunion, is by far my worst with score wise but has less inquiries with 21 i did however attempt to contact fed loan executive officers write a goodwill letter, hoping I can getting the baddies removed, the collection agency though is local with two employees who refuse to answer there phones... Oddly when I talked to discover, the lady said the inquiries didnt have any effect on there descion and they only had three recent, (target, Walmart and amazon) I think right now my best bet is to garden and see how my score goes as I pay off my cc balance at 37% now with no intrest and as the poster above noted, chase freedom isn't as good as I though! Defaniyl a eye opener

[lonelyisland]

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@Cookie2120987 wrote:

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@lonelyisland wrote:

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@Cookie2120987 wrote:

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@Closingracer99 wrote:

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@lonelyisland wrote:

Barclay gave me a card ($1800) when my FICO (from here) was 579.

I used it for all my gas and grocery - about $500/month for gas and $300 for grocery - mostly paid in full. 

After the Barclay, I opened 3 (comenity) cards, but kept my overall util under 30%

They auto increased me (to $3500) at 6mos when my score was 639

(I have since moved some of that $3500 CL to the Sallie Mae card. )

If they are going to punish for new CLs,  they will have a another chance soon.  I just went on a "spree", and got a 2nd Barclay, a Discover, Chase and Amex card. 

If they choose to lose a good customer and reduce my 5,000 in CL for this, I will miss the rewards, but I'll be okay, the new cards I got are great CLs and IRs. 

While I think people are getting Chase, Discover etc with mid 600s, I think the limits are pretty low, and increases dont seem to come that fast. 

I would just try for the Barclay for now, and wait until you get close to the 700s for the rest. 

Good Luck!

---

+1

I got a Discover card with no Credit history and got a $750 CL.  Got my Freedom with a $3500 limit with scores in the upper 600's, low 700's 

I talked to discover yesterday and they said I couldn't get the secured at this time due to a whole $118 collection, I explained to her what happened even though it said it wasa is over a year ago and she said if I could get it removed I'd qualify for the card. I also have 2 accounts that say 120 days late from student loans which have been being paid on time and are out of deferment for over a year now. How do you think Barclays will feel about that and 24 inquiries lol.. (Most from a auto loan and house searching)

---

I am honestly not sure about the collections accounts and 120 day lates.  My bad stuff was older than a year out when I applied. While Barclay has been said to be inq sensative, I think its in relation to other CCs - and I would imagine if denied soley on the basis of auto / home INQs (and not the collections) then you could call to recon.  IDo you know which credit report has the bulk of your INQs? Barclay seems to pull TU most often. 

Thankfully my 120 days late and the such are over 2 years old, not hurting me nearly as much as the collection which is 14 months old. Transunion, is by far my worst with score wise but has less inquiries with 21 i did however attempt to contact fed loan executive officers write a goodwill letter, hoping I can getting the baddies removed, the collection agency though is local with two employees who refuse to answer there phones... Oddly when I talked to discover, the lady said the inquiries didnt have any effect on there descion and they only had three recent, (target, Walmart and amazon) I think right now my best bet is to garden and see how my score goes as I pay off my cc balance at 37% now with no intrest and as the poster above noted, chase freedom isn't as good as I though! Defaniyl a eye opener

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Gotcha, 

While I think you have a decent shot for a Barclay approval, I think waiting it out and applying for the cards you really want is best in the long run.