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Should I apply for the Barclaycard Financing Visa?

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Anonymous
Not applicable

Should I apply for the Barclaycard Financing Visa?

Hi,

 

First of all, I would like to thank everyone's contribution for the educational recources from this forum. I learned a lot about credits through comments and everyone's experience in this forum.

 

Recently, I have been thinking to purchase the latest Macbook. I do have that money, but I also think it's a great way for me to build credit if I use the financing card. 

Here is my profile: 

4 months credit history (1 month from Discover, 4 from Capital One)

2 credit cards : Discover it - $1500, Capital One Quicksilver - $300 (An upgrade from their platinum) 

720ish TU score 

4 hard pull from TU

Probably 5-6 from the other two

 

I made some stupid mistakes before I learned all the information. I applied cards that I didn't even get a chance.

But yea, what's the odd for me to get the Barclaycard Financing Visa?

Should I just stick with the two current cards that I have and let my account age?

 

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Should I apply for the Barclaycard Financing Visa?


@Anonymous wrote:

Hi,

 

First of all, I would like to thank everyone's contribution for the educational recources from this forum. I learned a lot about credits through comments and everyone's experience in this forum.

 

Recently, I have been thinking to purchase the latest Macbook. I do have that money, but I also think it's a great way for me to build credit if I use the financing card. 

Here is my profile: 

4 months credit history (1 month from Discover, 4 from Capital One)

2 credit cards : Discover it - $1500, Capital One Quicksilver - $300 (An upgrade from their platinum) 

720ish TU score 

4 hard pull from TU

Probably 5-6 from the other two

 

I made some stupid mistakes before I learned all the information. I applied cards that I didn't even get a chance.

But yea, what's the odd for me to get the Barclaycard Financing Visa?

Should I just stick with the two current cards that I have and let my account age?

 


I can't tell you as to whether you'll get it or not. I'm only here to suggest maybe getting another card with a 0% intro rate. With the Apple Finance Visa it's only benefit is 0% financing for a period, on Apple products only, depending on how much you spend. After that there's really no other perks. 

 

I had this card and used it to help me get my macbook. After that I was stuck with a card I had no use for. No cashback, no points, etc. Thank God at the 6mo mark, after multiple attempts each month, I was able to PC to the Barclay Rewards. Good luck.

 

Message 2 of 8
jd352
Regular Contributor

Re: Should I apply for the Barclaycard Financing Visa?

I went ahead and acquired the Apple financing card, as did my wife (how dare I get a new MBP without her getting one too). I knew getting it that its only benefit was financing Apple purchases for the first time. But, I also believe that the point of having good credit is to make it work to your advantage. So, if there is an advantage to it somehow (mine was to show Barclay some love), than why not.

I have seen based on CreditKarma, about half of card holders have a credit score between 600-700, so that might be the advantage if your credit scores are not as high.

After I have it paid off, I will likely just close the card, or try to PC them to another card (maybe the Ring if they let me) just to have another low interest rate card should I ever need it.

My view though, is if you think it is for you, then go ahead with it. But, there are likely better options. Discover It, for example, has a longer promo period on purchases, likely higher CL, might be able to buy it through their online store and get more points for the purchase. I realized I should have went that route after I did everything because it would have been a better move for the future.


NPSL............... $20,700........... $15,200.......... $5,000............ $15,000............ $20,000
Current Scores: Equifax: 761 (Fico) TransUnion: 751 (Fico) Experian: 768 (Fico)
Message 3 of 8
Closingracer99
Valued Contributor

Re: Should I apply for the Barclaycard Financing Visa?


@jd352 wrote:

I went ahead and acquired the Apple financing card, as did my wife (how dare I get a new MBP without her getting one too). I knew getting it that its only benefit was financing Apple purchases for the first time. But, I also believe that the point of having good credit is to make it work to your advantage. So, if there is an advantage to it somehow (mine was to show Barclay some love), than why not.

I have seen based on CreditKarma, about half of card holders have a credit score between 600-700, so that might be the advantage if your credit scores are not as high.

After I have it paid off, I will likely just close the card, or try to PC them to another card (maybe the Ring if they let me) just to have another low interest rate card should I ever need it.

My view though, is if you think it is for you, then go ahead with it. But, there are likely better options. Discover It, for example, has a longer promo period on purchases, likely higher CL, might be able to buy it through their online store and get more points for the purchase. I realized I should have went that route after I did everything because it would have been a better move for the future.


Your much better off Getting a Bestbuy Store card / Bestbuy Master card since you can buy Macbooks at Bestbuy and get I think either 18 months or 24 months financing with no interest, BestBuy reward point which would probably kick you into the Elite Status which gets you 30 Day return policy, 10% more points, and some other stuff which requires $1,500 in spending before Taxes to achieve. 

 

 

 

You can also buy Macbooks at Amazon I believe ( I know they don't sell iPhones and iPads but I think they are resellers for Macbooks and sold directly by Amazon) and you can get err some sort of financing option of like 12 or 24 months ( I forgot the spending limit for those 2 options)


My Cards: Amex BCE: $9,000, Amex Hilton HHonors: $2,000, Amex ED: $12,000, Barclays NFL extra points: $3,000, Bank of America MLB cash rewards: $17,000, BBVA compass NBA Amex triple double rewards: $17,000, Chase Amazon: $1,000, Chase Freedom: $9,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney: $4,000, Citi Double Cash: $5,400, Citi AA plat: $5,500, Citi Simplicity: $3,000, Citi Thank you preferred: $8,800, Capital one GM: $2,000, Capital one PlayStation: $3,000, Gamestop: $1,150, Amazon Store: $5,000, Ebay MasterCard: $5,000, American Eagle Storecard: $750, Macy's: $500
EX: 744, TU:750, EQ: 740
Message 4 of 8
Sharingan
Established Contributor

Re: Should I apply for the Barclaycard Financing Visa?


@Anonymous wrote:

Hi,

 

First of all, I would like to thank everyone's contribution for the educational recources from this forum. I learned a lot about credits through comments and everyone's experience in this forum.

 

Recently, I have been thinking to purchase the latest Macbook. I do have that money, but I also think it's a great way for me to build credit if I use the financing card. 

Here is my profile: 

4 months credit history (1 month from Discover, 4 from Capital One)

2 credit cards : Discover it - $1500, Capital One Quicksilver - $300 (An upgrade from their platinum) 

720ish TU score 

4 hard pull from TU

Probably 5-6 from the other two

 

I made some stupid mistakes before I learned all the information. I applied cards that I didn't even get a chance.

But yea, what's the odd for me to get the Barclaycard Financing Visa?

Should I just stick with the two current cards that I have and let my account age?

 


I am not a fan of cards that retroactively charge interest after the 0% period. Additionally, the standard APR on the Apple card is absolutely atrocious if you weren't able to pay off the balance or make future purchases. I would definitely try for a regular bank card that comes with a 0% period without retroactive interest for your purchase. If you are a fan of Barclays, I recently got the Arrival from them and it came with 0%. 



Message 5 of 8
destine2grow
Frequent Contributor

Re: Should I apply for the Barclaycard Financing Visa?

Interesting I also was contemplating doing the same thing. I can see the benefit of apping for a regular cc. However if you plan to purchase other apple products can't you receive a promo offer of 0% at that time?

Message 6 of 8
Closingracer99
Valued Contributor

Re: Should I apply for the Barclaycard Financing Visa?


@destine2grow wrote:
Interesting I also was contemplating doing the same thing. I can see the benefit of apping for a regular cc. However if you plan to purchase other apple products can't you receive a promo offer of 0% at that time?

The wording says no but because of that wording I wouldn't app for it and try out. If I am going to app for horrible APR store cards better off going for ones like Bestbuy, Amazon or others that offer financing on any purchase over certain amounts .

 

 

Just buy the Macbook at bestbuy since they offer Financing for 12 months and can be used for other products then just apple 


My Cards: Amex BCE: $9,000, Amex Hilton HHonors: $2,000, Amex ED: $12,000, Barclays NFL extra points: $3,000, Bank of America MLB cash rewards: $17,000, BBVA compass NBA Amex triple double rewards: $17,000, Chase Amazon: $1,000, Chase Freedom: $9,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney: $4,000, Citi Double Cash: $5,400, Citi AA plat: $5,500, Citi Simplicity: $3,000, Citi Thank you preferred: $8,800, Capital one GM: $2,000, Capital one PlayStation: $3,000, Gamestop: $1,150, Amazon Store: $5,000, Ebay MasterCard: $5,000, American Eagle Storecard: $750, Macy's: $500
EX: 744, TU:750, EQ: 740
Message 7 of 8
Anonymous
Not applicable

Re: Should I apply for the Barclaycard Financing Visa?


@destine2grow wrote:
Interesting I also was contemplating doing the same thing. I can see the benefit ofapping for a regular cc. However if you plan to purchase other apple products can't you receive a promo offer of 0% at that time?

I called to ask Barclays the same question. They guy I spoke with did say that if I wanted to buy another Apple product I could call in and tell them I was going to and that they would still offer the 0%. That being said, I never did it. When I bought my Dad an iPad I put it on the 0% (14mos) Discover.

Message 8 of 8
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