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Valued Contributor
Posts: 1,621
Registered: ‎09-15-2012
0

New Barclaycard Arrival Strategy

[ Edited ]

So I've been drooling over the signup bonus for the Arrival card with an AF for a few weeks. I've been very close to pulling the trigger multiple times and don't feel that I have much to worry about with approval. My biggest concern is finding a use for:
A) the rewards
B) the card and it's presence on my credit report
C) the annual fee

So with that in mind, here is my newest strategy:
Get the card. Get $400 bonus. Hold it until I'm ready to book a trip (with the potential for a trip in December or early January). In the meantime, use the card in place of my CapitalOne Cash Rewards, since I will be earning an extra 0.50% on non-Freedom/BCP/Forward purchases. However, I would likely stop trying to accumulate points with that card once I pay for that trip since I don't travel often. I would prefer the flexibility of cash rewards over travel rewards for the time being. Then, after the first year is up, I would PC to the no AF version and essentially sock drawer the card.

This still leaves me in a weird place on having an unnecessary line of credit on my report... I guess I just don't want to have an open or closed account that I never really needed reporting for the next 10+ years. It will cost my AAoA in the short term (I'm working hard to get it up to 5 years, but that looks unlikely given my credit card obsession) and will look odd in the mortgage process down the road. No offense to those out there with 35 revolving accounts, but I don't want to do that.

So what does everyone think? Good plan? Bad plan? Modcut

 

edit by webhopper


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
0

Re: New Barclaycard Arrival Strategy

[ Edited ]

SnackTrader wrote:
So I've been drooling over the signup bonus for the Arrival card with an AF for a few weeks. I've been very close to pulling the trigger multiple times and don't feel that I have much to worry about with approval. My biggest concern is finding a use for:
A) the rewards
B) the card and it's presence on my credit report
C) the annual fee

So with that in mind, here is my newest strategy:
Get the card. Get $400 bonus. Hold it until I'm ready to book a trip (with the potential for a trip in December or early January). In the meantime, use the card in place of my CapitalOne Cash Rewards, since I will be earning an extra 0.50% on non-Freedom/BCP/Forward purchases. However, I would likely stop trying to accumulate points with that card once I pay for that trip since I don't travel often. I would prefer the flexibility of cash rewards over travel rewards for the time being. Then, after the first year is up, I would PC to the no AF version and essentially sock drawer the card.

This still leaves me in a weird place on having an unnecessary line of credit on my report... I guess I just don't want to have an open or closed account that I never really needed reporting for the next 10+ years. It will cost my AAoA in the short term (I'm working hard to get it up to 5 years, but that looks unlikely given my credit card obsession) and will look odd in the mortgage process down the road. No offense to those out there with 35 revolving accounts, but I don't want to do that.

So what does everyone think? Good plan? Bad plan? Modcut
 
 
  I have been pondering whether to pull the trigger as well.  Im going to NY at the end of the month- so I dont need it for that trip but I am planning a 2 trips at the end of the year.  

 

 Modcut I had this on my fall spree list but Im afraid the sign up bonus will be gone   Smiley Sad

 

To answer your question- it really sounds like a win win---PC it next year and be done with it.

 

edit by webhopper

Frequent Contributor
Posts: 304
Registered: ‎05-08-2013
0

Re: New Barclaycard Arrival Strategy

Haha, this is exactly why they give signup bonuses!
Established Contributor
Posts: 662
Registered: ‎02-20-2013
0

Re: New Barclaycard Arrival Strategy

even without the sign up bonus, the 2x miles and 10% back on redemptions puts it ahead of the venture card and any other 2% card out there. might even put it on par with the CSP.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Valued Contributor
Posts: 1,621
Registered: ‎09-15-2012
0

Re: New Barclaycard Arrival Strategy

[ Edited ]
I totally agree that it is a good card! It's just not one that would typically fit my needs except for the signup bonus. I will likely never get the CSP for the same reason unless someone can prove to me a way in which it significantly increases the value of my UR points for things on which I would actually use UR points.

But the signup bonus!?!? Someone talk me off or over the ledge - I need one way or the other haha! This indecision is very out of character for me.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
0

Re: New Barclaycard Arrival Strategy

Sleep on it. Look at it again tomorrow after you thought about those things that are telling you no, you don't need it this card. You already know if you want it you could have it - so think about all the reasons why you don't want it in your wallet.
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
0

Re: New Barclaycard Arrival Strategy

hmmm i think it depends.

do you have any close friends or relatives that travel? if so, you can pay for them and redeem your miles.

the no AF version does not give 2% across the board, so it's going to be just a medicore card that you'll definitely sockdrawer.

For me, the $400 for 1 inquiry and some AAoA hit was worth it.

 

 

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).
Valued Contributor
Posts: 1,621
Registered: ‎09-15-2012
0

Re: New Barclaycard Arrival Strategy

Do you any of you know approximately how long it takes Barclays to send a card? Or do you remember from your experience?

I have travel coming up and don't want the card to arrive while I'm away...

If it takes a week or longer, I might have to wait to apply anyway.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: New Barclaycard Arrival Strategy

Barclay's will charge you to expedite it-$29.99.

Bah! I can't wait to recon for this card!!!!!!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
Posts: 662
Registered: ‎02-20-2013
0

Re: New Barclaycard Arrival Strategy

Barclays barely let me squeak in my Sallie Mae World card a month ago with a recon. This is definitely on my Fall app list though as well. Hope the sign up bonus is still there.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14

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