Cap1 Approved, Barclay Rewards Denied, What’s my next app & when?

[Anonymous]

After waiting years for baddies to drop off, I apped for capital one platinum and was approved Friday with a 2K CL. After reading tons of info here, I realized I needed 3 revolvers to build, so I went for what I thought was the next easiest card – Barclays Rewards. Got denied Sunday, called recon this morning, it’s a no-go. Their reasoning: No history on revolvers or autoloans to base decision on.

Right now I have a HP across the board from capital one and 1 HP from Barclays on TU within the last 2 days. Total inquires on report:

TU: 4

EX: 2

EQ: 2

Scores (myfico):

TU:702

EX:694

EP:659

However, myfico was last updated 3/7 and does not show the pull from Barclays.

CreditKarma shows current inquires. Scores there:

TU: 617

EX: 659

Even before the Barclays HP, there was a big discrepancy between the CK and myfico.

Should I app for anything right now, or wait for the Cap 1 card, use it for 6 months, then try Barclays again (or is one account not enough history) or something else?

I would have really liked 3 cards at once so the inquiries can age off together before shooting for a mortgage in 1-2 years. Income is over 100K, but that doesn’t seem to matter.

[Anonymous]

Apply for a second Cap One card - Quicksilver Rewards is what I'd suggest. Six months of payment history, then app for the Barclays. If you're in the market, (or anticipate it soon) you might also consider financing a vehicle to get some history there.

Don't sweat the inquiries, you only have a few. It might be different if you had a dozen or more. Since a potential Mortgage app is 1-2 years away, any inquiries now are'n't going to matter anyway. IMO, people here worry WAY too much about inquiries.

[Anonymous]

I am more worried about inquires for a Barclay re-app (which they have been known to deny on) and other cards in the near future than a mortgage. I know they will be irrelevant in 1-2 years.

Edit: Cap1 QS Rewards is what I was approved for.

[Anonymous]

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@Anonymous wrote:

I am more worried about inquires for a Barclay re-app (which they have been known to deny on) and other cards in the near future than a mortgage. I know they will be irrelevant in 1-2 years.

Edit: Cap1 QS Rewards is what I was approved for.

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As soon as you see the new Cap One account report, then app for the second card. You can also request an account upgrade from Platinum to Quicksilver after six months.

[itgirl74]

You might want to go on the Chase website and see if you get a pre-quallified offer. Their offers are known to be more reliable than some others (especially if nothing on your credit report has changed recently).

[Anonymous]

I've checked all of the pre-qual sites, nothing. At this point I think my choices are go in the Garden with the Quick Silver Rewards card or shoot for something like an Amazon Store card and/or Fingerhut.

[Anonymous]

I started w the platinum and then went to a CU after a month to get another regular CC, but w lower interest sand a higher limit. Six months in, capital one increased my CL. A year later, my CL tripled and I upgraded to the Quicksilver One and I just applied for the Venture card and got approved for $10k!! TU 656  EQ 649 EX 643 two cars, one personal loan, student loans, and two CA ?

[Anonymous]

Oh, and I didn't prequalify anywhere else before cap 1 gave me the $10k. They are awesome for rebuilding. Credit score for TU was 514 last March

[Anonymous]

One more place I just thought of to do SP pre-qual shopping -- The customized offers within my B of A account.

I logged in, clicked the link, and it came up with these:

BankAmericard Travel Rewards Card

BankAmericard Better Balance Rewards

BankAmericard Visa

BankAmericard Cash Rewards

What are the actual chances?

Do they show these to everyone with B of A accounts regardless of score?

CK lists the odds at Poor for all of these. Wondering if B of A is actually taking my account history with them (which is damn good) into consideration.

[TRC_WA]

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@Anonymous wrote:

After waiting years for baddies to drop off, I apped for capital one platinum and was approved Friday with a 2K CL. After reading tons of info here, I realized I needed 3 revolvers to build, so I went for what I thought was the next easiest card – Barclays Rewards. Got denied Sunday, called recon this morning, it’s a no-go. Their reasoning: No history on revolvers or autoloans to base decision on.

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In addition, Barclays likes to see history with their products before giving out their premium cards.

I started with the Apple Financing card to open the door towards a better card down the road... used it 16 months then was instantly approved for a $6700 Sallie Mae.  Sometimes starting small pays off in the end...

Once you get a couple more revolvers open give it 6 months or so and then re-apply for Barclays Rewards or the Apple card.  You should get in...