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Hey everyone.
I've been a longtime lurker but haven't made an account until now because I had nothing to contribute. I just wanted to share my success with obtaining a Barclaycard with poopy credit. All I have is a Cap1 card that started as a regular rebuilder card at $300 since August 2011. It was upped to $500 5 months later, then $600 via the button online, then $750 a couple of weeks ago after a message to the Cap1 FB and employment verification letter. I also got it converted to a QuicksilverOne rewards card via the online chat.
So I decided to try my luck and apply for a few cards this weekend. Walmart - DENIED. Discover IT Student - DENIED (Counteroffer of secured card, ignored.) and then a Barclaycard Rewards Mastercard for Average credit - APPROVED! for $500. My most recent credit score I have was on a declined letter last month from Cap1 on a Journey student card and it was 573, I believe EQ if I remember correctly.
I had to call in for review and gave them some info, explained away the inquiries (That I only have 1 card with perfect payment history and want to continue building with new credit), WHY I want the card (Christmas shopping), and she approved it on the phone. I will have it in 5-7 days.
What's on my CR -
almost $2k in a bill from when I dropped out of beauty school 6 years ago.
$200 to an old utility company
like 8 inqs
60% credit util
I kind of can't believe they approved me with all of that.
Soooo how does Barclaycard work with CLIs? I have heard I should wait at least 6 months or so before applying for any new credit, but do they do auto-CLIs or customer initiated?
I don't know about CLI's but in general, they are inquiry sensitive. If you amass to many inquiries, they are known for closing the account of removing some of your credit limit.
Congrats btw!
Congrats on your success it's now time to garden especially with Barclay