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More good news and more questions!

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xXIDaShizIXx
Established Contributor

Re: More good news and more questions!


@Themanwhocan wrote:

@xXIDaShizIXx wrote:

@Themanwhocan wrote:

@xXIDaShizIXx wrote:

@Themanwhocan wrote:

@xXIDaShizIXx wrote:

@xXIDaShizIXx wrote:

Guys! I finally applied for the Barclaycard Rewards card and instantly got approved for $2,500! Should I call and ask for more or take that (I know some guys have gotten recons for higher lines), but I don't want to poke the bear. Besides that should I cancel my secured capital one card at this point, or would it hurt me? It is my oldest card. I've had for 1.5 years. Also should I call Synchrony and request a CLI on my Car Care One Card and Ashley Furniture card? They are both hardpulls because they are financing cards. It feels good finally having my persistence paying off first with BoA and now with Barclays! Lastly, how does Barclays treat their customers?  Are CLI's routine with a lot of usage and always paying in full before the due date (always reporting a $0 balance)? Thank you guys, you really have helped me out a great deal!


I called Barclay and they said they couldn't increase it. They said I was doing an excellent job establishing my credit, and to give it another six months to show history with their card! Very pleased with that answer actually!Smiley Happy


Yes, they say that a LOT when they are denying requests. If it really was so excellent, then they would be over-riding the computer and granting your request.

 

http://ficoforums.myfico.com/t5/Credit-Cards/barclays-compliment/m-p/2871927/highlight/true#M816500

http://ficoforums.myfico.com/t5/Credit-Cards/BARCLAY-Adverse-Action-AA-Question/m-p/3758644/highligh...


I've got to say they and BoA are helping me establish a credit history. It is just like Capital One. I have a few issues with them, but they let me get a secured card and helped me establish history, so I am appreciative to them. I'll continue to work with Barclay over the next few years and if they don't work with me then I'll know. I appreciate your feedback though (I don't mean to sound snarky)! What about my other questions though? Does any one have an idea?


If they really are finance cards, then I wouldnt bother trying to increase them. generally finance companies are considered to be lenders of last resort, so its not good to have them on your credit reports. And removing them won't help for 10 years,since they will stay on your reports for 10 years after being closed. because of that, i dont see a need for them to have real large credit limits. I would keep the secured card until just before the next fee is due. 

 

Longer term, plan to get more bank cards, and then slowly eliminate the finance cards.


That is understandable. The Ashley Furniture Card I probably will get rid of in the next few years, but the Car Care One card has been useful a few times. As for the capital one card, I had the annual fee waived permanently, so what do I need to do there? But other than that, I just intend to show history for a while and then try for an AMEX/Discover.


Is the card still secured, ie, they havent given you your deposit back? If so, I would ask Capital One about that.


Yes, sorry for the confusion. The Capital One card is the one I have had the longest. It is a secured card for $750. After 6 months of good history the EO waived the annual fee for me. I've had it for 1.5 years now. Should I just go a head and close it and get my money back? Thanks!

Bank of America Cash Rewards: $70k; Chase Sapphire Preferred: $35k; Capital One Quicksilver: $21.2k; Citi AAdvantage: $23.5k; Care Credit: $20k; Chase Freedom: $12.5k; Chase Freedom Unlimited: $12.5k; Citi Simplicity: $15.9k; Wayfair: $22K; Barclaycard Rewards: $10k; Car Care One: $10k; AMEX BCE: $15k; Discover IT Miles: $10k; Citi DC: $9.2k; Marvel: $10k; Ashley Furniture: $6k; PayPal Credit: $10k; US Bank Cash +: $5k;
Message 11 of 15
jre
Regular Contributor

Re: More good news and more questions!

From my experience Barclays likes to see consistent payments, usage, and NO more inquiries. They are very inquiry sensitive. They granted me a nice cli wit high utilization, which lends me to believe the other factors i mentioned are given more weight. Then again, low until makes a cli more likely.

Quicksilver x2 | Barclays | Store Cards (more than I need)

Scores: 650s
Message 12 of 15
xXIDaShizIXx
Established Contributor

Re: More good news and more questions!


@jre wrote:

From my experience Barclays likes to see consistent payments, usage, and NO more inquiries. They are very inquiry sensitive. They granted me a nice cli wit high utilization, which lends me to believe the other factors i mentioned are given more weight. Then again, low until makes a cli more likely.


Yeah I'm done, I just needed something to replace my Capital One secured more than anything. I'll hang on to the financing cards and I won't ask for a CLI on them yet. I don't intend to get any more inquiries for at least two years, so I won't have any. I don't have high utilization, unless you count my student loans, otherwise I never report a balance on my cards. It looks like I may be good to go with Barclays as long as I treat them right (which isn't a problem)! Do you recommend me closing my Capital one secured card after I receive the barclay card? Thank you!

Bank of America Cash Rewards: $70k; Chase Sapphire Preferred: $35k; Capital One Quicksilver: $21.2k; Citi AAdvantage: $23.5k; Care Credit: $20k; Chase Freedom: $12.5k; Chase Freedom Unlimited: $12.5k; Citi Simplicity: $15.9k; Wayfair: $22K; Barclaycard Rewards: $10k; Car Care One: $10k; AMEX BCE: $15k; Discover IT Miles: $10k; Citi DC: $9.2k; Marvel: $10k; Ashley Furniture: $6k; PayPal Credit: $10k; US Bank Cash +: $5k;
Message 13 of 15
jre
Regular Contributor

Re: More good news and more questions!

If there's an annual fee there really is no need to keep it open. If you paid the fee already for this year you might as well keep it open. As far as reporting balances I have read on here that for optimal scoring one of your cards should report a balance less than 7% on that card I believe. 

Quicksilver x2 | Barclays | Store Cards (more than I need)

Scores: 650s
Message 14 of 15
KellyP25721
Frequent Contributor

Re: More good news and more questions!

I use the card pretty heavily and they have been pretty good with me.  I started with a $2K CL and they bumped me to $3.3K on my 6th statement.  On my 12th statement they bumped me to $6.3K. 

Starting Score: 573 (EX Faco) | Current Scores: EX(Fico) 674, EQ(Fico) 668, TU(Fico) 691
Message 15 of 15
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