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Frequent Contributor
quest208
Posts: 423
Registered: ‎11-25-2011
0

stage 1 completed. stage 2 begins. hello AMEX network!!!!

i cant get an amex at this time,  because i found that i owe amex a balance from 2003.  balance is just north of $1200.  until this is paid off i cant app for amex, as per amex csr.  BUT, i am also in the process of doing some home renovations so my cash is tied up for these projects.

 

so, what to do?????????????????

 

applied for Barclays American Express.  0% balance transfer.  got approved for $2500.   transferred my old amex balance into the new amex!!!

boom! boom!  boom!  check!  check!  check!

 

i am a happy man.

i also transferred a small balance from my orchard bank/hsbc card so im looking at about 1700 balance on my barclays, which is pushing my utilization +/- 50% on that card (i have no other balances on other cards).  my goal is to do my home renovations while paying off the barclays amex in large monthly chunks and pay it off in about  3 months.

 

amex says if i call them they'll app me for the optima 48 hours after balance is paid.

i know barclays wants me to wait 6 months.

 

in 6 months my scores should be even higher, barclays will be paid off, they'll be happy, amex will be happy, i will be happy and hopefully i can apply (and get approved) for some amex products.

 

my next cards:

amex gold, or platinum

a visa card with cash rewards

 

those two cards will make my wallet complete.   i dont have a visa card and i dont have a "real" amex. 

after that i think im aiming for 800 fico

USAA FAKO: Experian 767, Transunion 743, Equifax 734
FICO: Transunion: 738, Equifax 731
Credit Sesame: Experian 721
BB Reward zone$400, Orchard master $700, Office Depot $500, USAA Mastercard $11,000, Barclays American Express $2500
AAoA about 1 year
Community Leader
Valued Contributor
-Cain-
Posts: 1,283
Registered: ‎04-06-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!

Awesome! Hope your plan works out quest1208!

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 734 11/2012 (PSECU), TU98 695 9/2012
Goal Score: 725+ across the board


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Frequent Contributor
quest208
Posts: 423
Registered: ‎11-25-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!

thanks!!

 

right now im studying on taking the Series 7, and renovations of the home.  that should keep me busy for the next few months, when im done im apping for amex and complete my journey!  LOL

thanks!!


-Cain- wrote:
Awesome! Hope your plan works out quest1208!



USAA FAKO: Experian 767, Transunion 743, Equifax 734
FICO: Transunion: 738, Equifax 731
Credit Sesame: Experian 721
BB Reward zone$400, Orchard master $700, Office Depot $500, USAA Mastercard $11,000, Barclays American Express $2500
AAoA about 1 year
Established Contributor
SoulMaster
Posts: 993
Registered: ‎11-08-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!

Wait just a minute there.... Did you just say Barclays has an AMEX??????  How did I not know about this?  Does it backdate?  Is it as easy to get as the regular Barclays, or a nightmare, like the regular Amex?  Does it build credit w/ Amex?

 

Gaahahhhaha!  My Garden was so peacefull and serene!  Now, it's flooded with questions and googles!

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.
Frequent Contributor
quest208
Posts: 423
Registered: ‎11-25-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!


SoulMaster wrote:

Wait just a minute there.... Did you just say Barclays has an AMEX??????  How did I not know about this?  Does it backdate?  Is it as easy to get as the regular Barclays, or a nightmare, like the regular Amex?  Does it build credit w/ Amex?

 

Gaahahhhaha!  My Garden was so peacefull and serene!  Now, it's flooded with questions and googles!

 

-SM


 

yes barclays has an amex.  its on the american express network.  its a Barclays Travelocity American Express....i will provide a link below

https://www.barclaycardus.com/apply/Landing.action?campaignId=1371&cellNumber=13

 

you have the option of an annual fee card, or no annual fee card (annual fee gives you higher points per purchase, etc)

 

it is a revolving card, not a charge card, and NOT issued by american express fsb (or whatever the name amex uses for its bank).  although its on american express network the card is issued by Barclays.  so it will not backdate as far as i know.   as you can see with my dilemma in my original post, i applied for this card because i needed a card to transfer my balance with amex so that i can apply for an amex LOL sorta like a catch 22.

 

i do not know which card is easier to get, but i hear barclays is nosey and will pull softs on your credit report first 6 months and will close your accout if you get new cards immediately after obtaining a barclays card.  YMMV there.

 

lastly, it does not build a relationship with AMEX.  amex does not issue this card.  also, the tradeline reports as BARCLAYS, so by looking at the tradeline i doubt anyone will know its an amex.

 

its a new card, i havent received it yet therefore i dont have all the answers, but feel free to ask more questions, someone may be able to help.

USAA FAKO: Experian 767, Transunion 743, Equifax 734
FICO: Transunion: 738, Equifax 731
Credit Sesame: Experian 721
BB Reward zone$400, Orchard master $700, Office Depot $500, USAA Mastercard $11,000, Barclays American Express $2500
AAoA about 1 year
Frequent Contributor
quest208
Posts: 423
Registered: ‎11-25-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!

one more thing......

 

American Express Network

http://www1.amexnetwork.com/cardresources/

 

i believe those are the cards on the american express network.  they are issued by other financial institutions, not american express

USAA FAKO: Experian 767, Transunion 743, Equifax 734
FICO: Transunion: 738, Equifax 731
Credit Sesame: Experian 721
BB Reward zone$400, Orchard master $700, Office Depot $500, USAA Mastercard $11,000, Barclays American Express $2500
AAoA about 1 year
Established Contributor
SoulMaster
Posts: 993
Registered: ‎11-08-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!

Thanks... I was all over that (google).  ;-)  That card does me no good, I'm going back to my garden.  Thanks, though!  it was exciting for a minute!

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.
Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!


quest208 wrote:

i cant get an amex at this time,  because i found that i owe amex a balance from 2003.  balance is just north of $1200.  until this is paid off i cant app for amex, as per amex csr.  BUT, i am also in the process of doing some home renovations so my cash is tied up for these projects.

 

so, what to do?????????????????

 

applied for Barclays American Express.  0% balance transfer.  got approved for $2500.   transferred my old amex balance into the new amex!!!

boom! boom!  boom!  check!  check!  check!

 

i am a happy man.

i also transferred a small balance from my orchard bank/hsbc card so im looking at about 1700 balance on my barclays, which is pushing my utilization +/- 50% on that card (i have no other balances on other cards).  my goal is to do my home renovations while paying off the barclays amex in large monthly chunks and pay it off in about  3 months.

 

amex says if i call them they'll app me for the optima 48 hours after balance is paid.

i know barclays wants me to wait 6 months.

 

in 6 months my scores should be even higher, barclays will be paid off, they'll be happy, amex will be happy, i will be happy and hopefully i can apply (and get approved) for some amex products.

 

my next cards:

amex gold, or platinum

a visa card with cash rewards

 

those two cards will make my wallet complete.   i dont have a visa card and i dont have a "real" amex. 

after that i think im aiming for 800 fico


Congrats!! Fingers crossed for you!




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
jausanka
Posts: 483
Registered: ‎05-06-2009
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!


quest208 wrote:

 

applied for Barclays American Express.  

got approved for $2500. 

 

i also transferred a small balance from my orchard bank/hsbc card so im looking at about 1700 balance on my barclays, which is pushing my utilization +/- 50% on that card 


Your utilization is ~68% if you transferred $1700 onto a $2500 limit.  I don't see Barclay's having any problem with that since you don't carry other balances, but wanted to make sure you knew where you stood just in case! :-)

 

Frequent Contributor
quest208
Posts: 423
Registered: ‎11-25-2011
0

Re: stage 1 completed. stage 2 begins. hello AMEX network!!!!


jausanka wrote:

quest208 wrote:

 

applied for Barclays American Express.  

got approved for $2500. 

 

i also transferred a small balance from my orchard bank/hsbc card so im looking at about 1700 balance on my barclays, which is pushing my utilization +/- 50% on that card 


Your utilization is ~68% if you transferred $1700 onto a $2500 limit.  I don't see Barclay's having any problem with that since you don't carry other balances, but wanted to make sure you knew where you stood just in case! :-)

 


 

yeah 68% is high, but i hope to pay that off in 3 months. 

and no interest!!!!

USAA FAKO: Experian 767, Transunion 743, Equifax 734
FICO: Transunion: 738, Equifax 731
Credit Sesame: Experian 721
BB Reward zone$400, Orchard master $700, Office Depot $500, USAA Mastercard $11,000, Barclays American Express $2500
AAoA about 1 year

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