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New Barclaycard Arrival Strategy

Senior Contributor

Re: New Barclaycard Arrival Strategy

I'll prob have to move over a couple thousand from my $7700 Trave Amex to open this one!
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
Mega Contributor

Re: New Barclaycard Arrival Strategy


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

 

Modcut

 

Go for it Snacktrader!!! Smiley Very Happy

 

edit by webhopper




EQ FICO 548 3/3/16
Established Contributor

Re: New Barclaycard Arrival Strategy


LS2982 wrote:

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

 

Modcut

 

Go for it Snacktrader!!! Smiley Very Happy


+1

 

edit by webhopper


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
Contributor

Re: New Barclaycard Arrival Strategy


SnackTrader wrote:
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.

@SnackTrader, so many good points and glad you posted this. I now have some cards that I wish I hadn't applied for early on, but guess I'll SD them. However, the BarclayCard Arrival hits my needs almost perfectly and will likely become one of my most used cards (outside of 5%/6% rewards categories).

 

I was approved on Thursday, May 2nd, and I received the card yesterday on Friday, May 10th. I'm in CO and return address said it was coming from PA.

Valued Contributor

Re: New Barclaycard Arrival Strategy

Thanks all!

I guess I will be leaving the Garden for the first time in 4+ months later this week. Lets hope the signup bonus sticks around that long because that is really the only reason to get this card. I will use the card for 12 months (maybe less) pocket the cash and then PC to the no AF card or another Barclays card if that's allowed. It sucks that I have to take an INQ and a new account, but $400 is a pretty nice chunk of cash and will help to force me to take a vacation. I haven't taken more than a day of leave at a time in almost a year!

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

Re: New Barclaycard Arrival Strategy

Super Contributor

Re: New Barclaycard Arrival Strategy

grats in advance!

 

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

Re: New Barclaycard Arrival Strategy

In advance??? Lol - you have far too much confidence in 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
Super Contributor

Re: New Barclaycard Arrival Strategy


09Lexie wrote:

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

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.


Turn my back for a one day and it's a lot of drolling going on Ha ha ha 

 

edit by webhopper

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Super Contributor

Re: New Barclaycard Arrival Strategy

SnackTrader it's a good signup bonus worth thinking about

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?