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Regular Contributor
Posts: 131
Registered: ‎03-30-2009
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UPDATE!!!Barclays Denial Saturday, RECON Approval on Monday

[ Edited ]

Well I have recently acquired 2 Amex charge cards in Dec. of last year and also a Discover More with a $3000.00 limit all on the same day. Well I have noticed that there are a lot of spots who do not accept Discover or AmexSmiley Mad so I started thinking I might want to get a Visa or Mastercard with no annual fee to keep with me in case I ran into an issue where neither car would be acceptable. So since I have a 712 TransUnion I decided to apply for The Barclays Recyclebank Rewards card since so many ppl were having success with this bank. Well I applied on Sat and received an instant denial it said I did not have enough satisfactory acctsSmiley Indifferent. Well seeing as I have over 10 accts in good standing and 5 yrs AAofA  I decided I would call and do a Recon. I called this morning and spoke with a Credit Analyst who was very nice asked a few questions then put me on hold and came back to the phone and congratulated me on my approval for a get this $500.00 clSmiley Sad. The reason he gave was bc there were no major CC reporting on my credit report the Amex or the Discover have yet to show up, and last month I closed my HSBC ORCHARD because it only had a 400 cl and would never grow. So my question is will the new my Accts reporting scare Barclays? I have heard that they close new Accts for balance increases and changes in your credit reportsSmiley Sad. Also can I ask for a Credit limit increase when I activate my card or should I just wait?

Eq WAS 500+ three years ago NOW IM 683 and Trans WAS ALSO 500+ NOW IM SITTING AT 710
700 You better be on the LOOK OUT(OOPS GUESS THEY WEREN'T LOOKING CAUSE I ALREADY MADE IT YAAAAYYYYYYYY)
Frequent Contributor
Posts: 331
Registered: ‎09-26-2009
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Re: Barclays Denial Saturday, RECON Approval on Monday

Congrats on your approvals!!

 

I got Barclays Travelocity Amex a couple of months ago with an initial CL of $1500, when my card arrived I called the backdoor # and spoke with a credit analyst about a CLI, I told her I was going to be doing a balance transfer, she asked a few questions and then approved me for a $4000 CLI, so it's definitely worth a shot, there's no hard pull done so you really have nothing to lose...Good Luck and let us know how it goes


AMEX Platinum NPSL | AMEX Zync NPSL | AMEX Delta Platinum $4000 | Travelocity Amex $4000 | CapOne No Hassle Rewards $2500 | BBRZ MC $800 | Local CU Visa $1000 | Kay $2000 | Citi Hilton HHonors Reserve $5000 | Chase Marriott Rewards $5000 | BankAmericard Travel Rewards Visa $7000 | Discover IT $1000
In the garden until 10/2014
Regular Contributor
Posts: 112
Registered: ‎03-09-2009
0

Re: Barclays Denial Saturday, RECON Approval on Monday

I agree..most Barclay Cards come with a 0% BT option for 9 months.  If you have a BT, tell them you want to take advantage of that offer but don't have enough available credit on the card.  Get ready to give them the BT details right away becuase that is what I had to do..I find Barclay's backdoor number very helpful..I wish more underwriting depts were run like Barclays versus computers Smiley Very Happy

Regular Contributor
Posts: 131
Registered: ‎03-30-2009
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Re: Barclays Denial Saturday, RECON Approval on Monday

 


jj10939 wrote:

I agree..most Barclay Cards come with a 0% BT option for 9 months.  If you have a BT, tell them you want to take advantage of that offer but don't have enough available credit on the card.  Get ready to give them the BT details right away becuase that is what I had to do..I find Barclay's backdoor number very helpful..I wish more underwriting depts were run like Barclays versus computers Smiley Very Happy


I will def call them and ask when I activate the card. Thank you for you quick responses. Do you know if they are still jumpy about new accounts posting because I heard they closed some others new accounts for that.

 

Eq WAS 500+ three years ago NOW IM 683 and Trans WAS ALSO 500+ NOW IM SITTING AT 710
700 You better be on the LOOK OUT(OOPS GUESS THEY WEREN'T LOOKING CAUSE I ALREADY MADE IT YAAAAYYYYYYYY)
Established Contributor
Posts: 582
Registered: ‎10-17-2010
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Re: Barclays Denial Saturday, RECON Approval on Monday

Although their Credit Analysts will review and open your account based on their Reconned review of your credit report, Barclays other department called, "Portfolio Credit Unit", monitors CRs of newly-opened accounts for the first 6 months, post-CARD ACT.  If new accounts begin to report that were not there during the initial application, red flags are raised and you will notice multiple soft inquiries appearing on your report.  Soon afterwards, the account will be suddenly closed -- the Credit Analysts have absolutely nothing to do with this decision.  The PCU department do not reconsider their decision, it's final.

 

My advice to new Barclay account holders would be to let the dust settle before and after applying.  A few may slip through the cracks as there are thousands upon thousands of cards issued, but often times, accounts are closed -- Do Not Pass Go, Do Not Collect Reward Points!

Valued Contributor
Posts: 1,603
Registered: ‎12-07-2008
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Re: Barclays Denial Saturday, RECON Approval on Monday


JayRizzo wrote:

Although their Credit Analysts will review and open your account based on their Reconned review of your credit report, Barclays other department called, "Portfolio Credit Unit", monitors CRs of newly-opened accounts for the first 6 months, post-CARD ACT.  If new accounts begin to report that were not there during the initial application, red flags are raised and you will notice multiple soft inquiries appearing on your report.  Soon afterwards, the account will be suddenly closed -- the Credit Analysts have absolutely nothing to do with this decision.  The PCU department do not reconsider their decision, it's final.

 

My advice to new Barclay account holders would be to let the dust settle before and after applying.  A few may slip through the cracks as there are thousands upon thousands of cards issued, but often times, accounts are closed -- Do Not Pass Go, Do Not Collect Reward Points!


 

This isn't the first time I've read this on here but I think all the posts I've read are from you.  Has this happened to others that you know of?  Your wording (excuse me if I'm misunderstanding) seems as if this is a universal procedure of theirs, but is it possible it's just a case by case basis?  I mean, how do you know that, "often times, accounts are closed."  Just inquiring because this personally affects me if it's true.

 

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


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Regular Contributor
Posts: 112
Registered: ‎03-09-2009
0

Re: Barclays Denial Saturday, RECON Approval on Monday

Well if this is the case, I am definately one of those who will get his account closed Smiley Very Happy which if they do, I couldn't care less...I've opened two new accounts since my Barclay Card within 2 months...my card has a $1000 limit with 24.99% apr.  If they keep it open, great, if not, no tears here!

Established Contributor
Posts: 582
Registered: ‎10-17-2010
0

Re: Barclays Denial Saturday, RECON Approval on Monday

Yes, it happened to me as you're already aware.  I deep-dived into finding out the Who, What, When, Where, How, and Why this happened.  I escalated to the Executive Office as well as outside agencies for assistance.  It is not limited to a chosen few, all accounts are reviewed for the first 6 months.  The company stands behind it's cardholder agreement when reciting, they have the right to close accounts.  They are not obligated to keep any accounts open that appear to have opened NEW accounts after they've already opened an account.  In their eyes, it can appear to be a case of fraud or someone agressively seeking "more" credit.

 

After all, they are right... it is their company, so I gave up the fight.  Nothing else could be done.  It also happened to other members in this forum, I just don't want to put their name out on Blast, but hopefully, they will read this and share their experience.

Regular Contributor
Posts: 131
Registered: ‎03-30-2009
0

Re: Barclays Denial Saturday, RECON Approval on Monday


jj10939 wrote:

I agree..most Barclay Cards come with a 0% BT option for 9 months.  If you have a BT, tell them you want to take advantage of that offer but don't have enough available credit on the card.  Get ready to give them the BT details right away becuase that is what I had to do..I find Barclay's backdoor number very helpful..I wish more underwriting depts were run like Barclays versus computers Smiley Very Happy


Well i received the card today and as soon as i opened i called the backdoor # and requested a CLI from my inital 500 so i could do a balance transfer. The Rep asked well would you be looking for something like 2000.00Smiley Very Happy i said yes he asked a few questions and told me i would not be able to receive 2000Smiley Mad but he could apporve me for 1500Smiley Happy. I took it Smiley Winkand transferred 750.00 over to my Gconomy card...Thanks for all your help guys and girls....

Eq WAS 500+ three years ago NOW IM 683 and Trans WAS ALSO 500+ NOW IM SITTING AT 710
700 You better be on the LOOK OUT(OOPS GUESS THEY WEREN'T LOOKING CAUSE I ALREADY MADE IT YAAAAYYYYYYYY)
Valued Contributor
Posts: 1,291
Registered: ‎05-13-2010
0

Re: Barclays Denial Saturday, RECON Approval on Monday

 


clocktick wrote:

JayRizzo wrote:

Although their Credit Analysts will review and open your account based on their Reconned review of your credit report, Barclays other department called, "Portfolio Credit Unit", monitors CRs of newly-opened accounts for the first 6 months, post-CARD ACT.  If new accounts begin to report that were not there during the initial application, red flags are raised and you will notice multiple soft inquiries appearing on your report.  Soon afterwards, the account will be suddenly closed -- the Credit Analysts have absolutely nothing to do with this decision.  The PCU department do not reconsider their decision, it's final.

 

My advice to new Barclay account holders would be to let the dust settle before and after applying.  A few may slip through the cracks as there are thousands upon thousands of cards issued, but often times, accounts are closed -- Do Not Pass Go, Do Not Collect Reward Points!


 

This isn't the first time I've read this on here but I think all the posts I've read are from you.  Has this happened to others that you know of?  Your wording (excuse me if I'm misunderstanding) seems as if this is a universal procedure of theirs, but is it possible it's just a case by case basis?  I mean, how do you know that, "often times, accounts are closed."  Just inquiring because this personally affects me if it's true.

 


I've never dealt with Barclay's, and probably never will, but I can promise that this has happened to TONS of people.  The portfolio review unit is just as bad as Amex's "Media Department"

 

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