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Question about Apple Barclays

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Question about Apple Barclays

My first post, so hello everybody!

 

My situation: Went through a tough period in my life back in 08, lost my job and racked up some medical bills and a couple other accounts went to collections. I started rebuilding credit back in 2011 with a BofA unsecured $500. Opened a CapOne last July with a CL of only $300. Payed 100% on both every month, no missed or late payments. As of yesterday, my EX is 586. 

 

I was thinking about getting a new Macbook and was considering opening a Barclays card (or trying) but had a couple questions. First off, I thought I remember reading somewhere that store cards don't really contribute to credit scores but that doesn't sound right to me...is this true? Also, what does one do with a Barclays card after it is fully paid off? Close it? Wouldn't that affect my score?

 

 

I appreciate all your help!

Message 1 of 7
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Established Contributor

Re: Question about Apple Barclays

The barclays card is a Visa, so it will contribute to the scores, then after it's paid off, just use it anywhere Visa is accepted.

 

Although with a 586, I don't think your going to be approved, and if you are it's probably not going to be enough to cover the price of the Macbook.

Amex BCE $10,000 | BofA Power Rewards WMC $10,000 | Discover It $10,000 | ICBC Preferred Gold UnionPay $8,000 | Local CU Visa $3,500
Message 2 of 7
Established Contributor

Re: Question about Apple Barclays

Just doing some research it seems that the min score is about 650 to get approved with baddies one year out at min

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Other Cards - Citibank AAdvantage, Chase Slate, Barclays Rewards,


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Message 3 of 7
Frequent Contributor

Re: Question about Apple Barclays

Barclays will more than likely pull TU or EQ.  My AppleCard was approved at around 602.  Yeah, I was only buying an 160GB iPod which meant that limit was fine for me.

 

This bank DOES interact on a human level, making it easier to explain situations.  However, if approved at your score with this bank, apply for nothing else for 6 months or better since you'll be on their default radar.

Ch7 Discharge: 5/14/2016 | 8/15/2016 scores: EQ 631 | TU 624 | EX 641
Message 4 of 7
Established Contributor

Re: Question about Apple Barclays

Yeah they pulled TU for me and I didn't get approved with a 710...too manyinquiries...IMO Barclays isn't worth it after all the horror stories I've seen on here about the closing account because of too many inquires or new accts

Wallet: Barclay-5k, Citadel MC- 5k, Slate- 4k, Freedom- 3k, BOA- 3k, Citi- 2k, AMEXBCE- 2k and more...
Message 5 of 7
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Established Contributor

Re: Question about Apple Barclays


jsnow wrote:

My first post, so hello everybody!

 

My situation: Went through a tough period in my life back in 08, lost my job and racked up some medical bills and a couple other accounts went to collections. I started rebuilding credit back in 2011 with a BofA unsecured $500. Opened a CapOne last July with a CL of only $300. Payed 100% on both every month, no missed or late payments. As of yesterday, my EX is 586. 

 

I was thinking about getting a new Macbook and was considering opening a Barclays card (or trying) but had a couple questions. First off, I thought I remember reading somewhere that store cards don't really contribute to credit scores but that doesn't sound right to me...is this true? Also, what does one do with a Barclays card after it is fully paid off? Close it? Wouldn't that affect my score?

 

 

I appreciate all your help!


Where did you get your EX score from? I'm guessing you probably have a FAKO score since EX scores are hard to come by these days. Your true score may be higher (or lower) than that.

As others have said, Barclay usually pulls TU. You can check your TU score on this site. It is an outdated model and not used much by lenders but it should give you a much better idea of where your credit standing is than an EX FAKO score would.

 

You don't have to close your card after it is paid off. THe Barclay VISA can be used anywhere VISA is accepted. You can just use it to buy a pack of gum every other month to keep it active.


BK in January 2008---Barclay's Apple Financing Card ($10,000) --- Capital One Quicksilver ($13,000)--- Platinum Delta Skymiles ($29,500) --- GEMB CareCredit ($10,000) --- AUFCU ($10000)---Discover IT ($28,000)

Experian 746 Transunion 806-- July 2017
Message 6 of 7
Frequent Contributor

Re: Question about Apple Barclays

OP, do you have a local CU that maybe you can apply for credit with? Reason being is that some CU's tend to be a little more lenient in approving members/customers that are in the rebuilding phase and have demonstrated a few months or so positive payment history. Also, they're good about giving decent limits. That's not to suggest that they'll just hand over a limit that's sufficient for a MacBook, but your odds are better. I got my Barclays Apple card after about 8-9 months of rebuilding, and I believe my score was in the low 600's. They pulled TU for me. I'd try a CU first and see if they couldn't be of assistance.


Starting Score: 686 TU / 683 EQ 01/17/2013
Current Score: 703 TU / 691 EQ 10/04/2013 / 688 EX 11/12/2013
Goal Score: 700 across all three


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