I received an offer of "pre-selected" to apply for the barclays cash forward and i was offered 200 new account bonus if i spent $500 in the next 90 days (if i applied and got approved)
I am very attempted.. But I have some concerns... My citi bestbuy card just got closed by the issuer.. they did not specify the reason.. but my guess would be, I had 96% balance last month on closing date.. and I had one payment reversed a couple months ago (I wasn't late or anything, just a payment during the middle of the period, it got reversed due to the fraud alert on the bank with the checking account.. so the bank just reversed the scheduled bill pay payment)..
well, i can't guess the real specific reason and don't want to go through the hussel to figure it out.. I hate citi from the beginning.. I just wanted the bestbuy card..
So anyways, the card was closed on 11/09/16, and I don't know how long it takes to hit my credit score.. but if i do apply now.. the super high usage of the citi card on the report won't changed until the beginning of next month.. to be honest, i don't know if i can get approved.. i have 3 HP on my TU (that's what they might pull right??).. no new account open this year.. (i think my last card was opened last year during May or something.. don't really remember)
FICO on discover card TU report is 731 on 10/14/16 (but that's before the citi card got closed), and my ex from my amex card EX report is 730 (10/26/16, again before the citi card got closed) and EQ is somewhere around 700 ( i have DCU member that gives me the score.. but i don't think Barclays pull EQ so i didn't check)
I have less than 4 inquires probably only 2 on EX, 1 on EQ, 3 on TU..
so what's your adivce? should i wait until at least I paid off that 96% usage on that closd card, I will pay it off by the end of this month anyways? or should i not wait??..
thanks..
Agree with KDM. I got that same offer today. Lol. $200 when you spend $500. 15.24 apr. I just cancelled a card with them last month too. Your scores are good. You utl is probably too high to app right now. Barclays does seem to like TU. If it's just the bonus that's attractive though, there are other cards offering sign up bonues. The mailers aren't your only option. 
but if you've had your eye on barclay and this fits for you, than go for it, but I'd wait until that utl is down.
but if you've had your eye on barclay and this fits for you, than go for it, but I'd wait until that utl is down.
@kdm31091 wrote:
You don't have to get a card just because you received an offer. If your gut says the time isn't right, then that's likely correct. In my opinion that usage is high and should be brought down before an app, even on a closed account.
I have an additional question about the usage.. My overall usage of all credit line is not too high ( i think it's around 25% ish).. just that closed one was super high 90%+.. so i don't know if the overall credit usage matters or every single card's usage matters? or both?
@Christina_xyt wrote:I received an offer of "pre-selected" to apply for the barclays cash forward and i was offered 200 new account bonus if i spent $500 in the next 90 days (if i applied and got approved)
I am very attempted.. But I have some concerns... My citi bestbuy card just got closed by the issuer.. they did not specify the reason.. but my guess would be, I had 96% balance last month on closing date.. and I had one payment reversed a couple months ago (I wasn't late or anything, just a payment during the middle of the period, it got reversed due to the fraud alert on the bank with the checking account.. so the bank just reversed the scheduled bill pay payment)..
well, i can't guess the real specific reason and don't want to go through the hussel to figure it out.. I hate citi from the beginning.. I just wanted the bestbuy card..
So anyways, the card was closed on 11/09/16, and I don't know how long it takes to hit my credit score.. but if i do apply now.. the super high usage of the citi card on the report won't changed until the beginning of next month.. to be honest, i don't know if i can get approved.. i have 3 HP on my TU (that's what they might pull right??).. no new account open this year.. (i think my last card was opened last year during May or something.. don't really remember)
FICO on discover card TU report is 731 on 10/14/16 (but that's before the citi card got closed), and my ex from my amex card EX report is 730 (10/26/16, again before the citi card got closed) and EQ is somewhere around 700 ( i have DCU member that gives me the score.. but i don't think Barclays pull EQ so i didn't check)
I have less than 4 inquires probably only 2 on EX, 1 on EQ, 3 on TU..
so what's your adivce? should i wait until at least I paid off that 96% usage on that closd card, I will pay it off by the end of this month anyways? or should i not wait??..
thanks..
I don't see a problem with your going ahead and applying now.
@Christina_xyt wrote:
@kdm31091 wrote:
You don't have to get a card just because you received an offer. If your gut says the time isn't right, then that's likely correct. In my opinion that usage is high and should be brought down before an app, even on a closed account.I have an additional question about the usage.. My overall usage of all credit line is not too high ( i think it's around 25% ish).. just that closed one was super high 90%+.. so i don't know if the overall credit usage matters or every single card's usage matters? or both?
Both
I don't see why not that you couldn't apply. I'd go for it.
You could wait till the payment is receievd and reported. If the offer is still valid after it posts. I got the same mailer and it doesn't expire till January.
I applied last night and given 10 day notice. I called recon immediately around 7pm pacific time, they asked me some questions and then I was approved. The said I had a good payment history with their Sallie Mae card which was a reason why they approved me even with high inquiries.
Good luck with whatever you choose to do!! Keep us posted!!
You could wait till the payment is receievd and reported. If the offer is still valid after it posts. I got the same mailer and it doesn't expire till January.
I applied last night and given 10 day notice. I called recon immediately around 7pm pacific time, they asked me some questions and then I was approved. The said I had a good payment history with their Sallie Mae card which was a reason why they approved me even with high inquiries.
Good luck with whatever you choose to do!! Keep us posted!!
