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Never thought I'd be happy with a denial, but...

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ORllyNao
Regular Contributor

Never thought I'd be happy with a denial, but...

I got a little cocky after being approved for a couple of things recently and I decided to try for a Barclay Rewards Mastercard. I probably shouldn't have wasted the inquiry, since I knew it was still a bit of a long shot, but whatever, I app'd and, not shockingly, got the 7-10 day message. Today, I called for a recon and talked to a really nice guy who told me the biggest issues were too many inquiries and that they'd love to see just a little more time with my current cards before an approval. He even said "well it looks like you've got a really great payment history going here, it's just a little short time-wise for what we need to see on our end, but keep it up and definitely come back to us once you have a little more history under your belt!" which I thought was cool. 

 

I'm so used to calling and being told the reason for denial is that I have a really low score, way too many collections, a charge off, judgement, etc., and because of that, I never used to even bother calling. So, yeah, while it does suck to get a "no" even after a recon, it is a bit refreshing for that "no" to have little to do with my score and more to do with things that are pretty easily managed, like letting inquiries fall off and keeping up my payments for a while longer. It's not as exciting as getting a brand new piece of plastic in the mail, but it still makes me feel like I've made a lot of progress. 

 

Anyway, that's how I'm looking at it. Silver linings, right? Smiley Wink 

 

 


FICO 8 | March 2023
Message 1 of 13
12 REPLIES 12
Caldric
New Contributor

Re: Never thought I'd be happy with a denial, but...

You must have been right on the edge to getting it. I app'ed at 640 and got 2000 instant. High interest but I pay it off every 20 days (ish) hoping they like me more after 6 months and not sure if they upgrade to their much better world card. Will see.

But yeah getting some good feedback is worth a pull.

Message 2 of 13
Anonymous
Not applicable

Re: Never thought I'd be happy with a denial, but...

I'm glad you posted this I've been thinking about a  Barclay card, but I've read things about them not liking inquires and I have baout 20 on report (although 15 of them where for an auto loan, so this counts as one? I dunno) But my score on myFICO are usually 5-20 off from my actual score, I noted this when I applied for my car and got a denial letter from Chase that said my transunion was 625 and at the Time myFICO was showing 601..Even now myFICO is stil not showing my Transunion at  620, so it makes me wonder what my score REALLY is. 

Message 3 of 13
Anonymous
Not applicable

Re: Never thought I'd be happy with a denial, but...

I've been denied twice by Barclay since Sept. I didn't know they were inquiry sensitive, thanks for sharing. I'd heard they were a little more forgiving of baddies, but I just still have too many reporting. I'm going to try again in a year, everything should fall off by then.

I do understand being happy with a decline. I've had two lately with Citi and Discover where I wasn't declined for "past history" or even the negatives in my report as I expected. I viewed that as a positive.
Message 4 of 13
pipeguy
Senior Contributor

Re: Never thought I'd be happy with a denial, but...


@Anonymous wrote:
I've been denied twice by Barclay since Sept. I didn't know they were inquiry sensitive, thanks for sharing. I'd heard they were a little more forgiving of baddies, but I just still have too many reporting. I'm going to try again in a year, everything should fall off by then.

I do understand being happy with a decline. I've had two lately with Citi and Discover where I wasn't declined for "past history" or even the negatives in my report as I expected. I viewed that as a positive.

I think it depends on the overall credit profile - I was approved for both a CLI of $2500 on my Apple Card (to $9500) and a new SL of $5000 CashForward card within the last 2 months and I've got a lot of inquiries which they never mentioned (786 TU score and thick file helps I assume)

Message 5 of 13
ORllyNao
Regular Contributor

Re: Never thought I'd be happy with a denial, but...


@pipeguy wrote:

@Anonymous wrote:
I've been denied twice by Barclay since Sept. I didn't know they were inquiry sensitive, thanks for sharing. I'd heard they were a little more forgiving of baddies, but I just still have too many reporting. I'm going to try again in a year, everything should fall off by then.

I do understand being happy with a decline. I've had two lately with Citi and Discover where I wasn't declined for "past history" or even the negatives in my report as I expected. I viewed that as a positive.

I think it depends on the overall credit profile - I was approved for both a CLI of $2500 on my Apple Card (to $9500) and a new SL of $5000 CashForward card within the last 2 months and I've got a lot of inquiries which they never mentioned (786 TU score and thick file helps I assume)


Yeah, I suspect the inquiries are only a problem if you're already borderline eligible for opening an account, and not exactly "well qualified." If the few baddies on my report were gone and I had a longer positive payment history, I'm sure my recon would have been successful, despite my inquiries (or I wouldn't have needed a recon at all). Smiley Happy


FICO 8 | March 2023
Message 6 of 13
Anonymous
Not applicable

Re: Never thought I'd be happy with a denial, but...

how many inquiries did you have if you don't mind me asking? I have 3-4, I am wondering if my scores can qualify me with the 3-4 inquiries. I believe it is 4 in transunion. My scores are in the 620's I was going to wait until I had at least 650 or 660. Do they look at the fico score or vantage score? My score in transunion itself is still in the 500's I found out because they use vantage 3.0 I think.

Message 7 of 13
Anonymous
Not applicable

Re: Never thought I'd be happy with a denial, but...

I had 2 new inquiries at the first decline in Oct and prob 6 at the time of the 2nd in Feb. My credit is a mess with old baddies (all but 1 is paid but reports not updated yet). Everything is over 6 yrs so my report will be clean in a year, plus I'll have over 12 months of current positive CC pay history. I'm just going to wait and try then.
Message 8 of 13
jbsea
Established Contributor

Re: Never thought I'd be happy with a denial, but...

Like every credit card company, Barkclays likes you to use there card, it is just that they will take it to a different level.  If you get there card and not use it they have been known to cut your limit or even close your card.  They were one company that I wanted to get in with but once I learned that i've backed off.  So keep that in mind if you get there card, just make sure you use it.

Amex Gold / Amex Platinum / Amex Marriott Brilliant/ Amex BCP/ Capital One Venture (AU) / Capital One Savor One/ Discover / NFCU Cash Rewards / BOA Unlimited Cash Rewards / NFCU GO Rewards (AU) / Amex EDP / NFCU Flagship Rewards / Chase Freedom (AU) / Capital One QuickSilver / Citi Costco (AU) / Amex Delta
Message 9 of 13
ORllyNao
Regular Contributor

Re: Never thought I'd be happy with a denial, but...


@Anonymous wrote:

how many inquiries did you have if you don't mind me asking? I have 3-4, I am wondering if my scores can qualify me with the 3-4 inquiries. I believe it is 4 in transunion. My scores are in the 620's I was going to wait until I had at least 650 or 660. Do they look at the fico score or vantage score? My score in transunion itself is still in the 500's I found out because they use vantage 3.0 I think.


I have a lot more inquiries than that from my rebuilding sprees over the past few months. They're hovering around 20 now, but a lot of those are due to fall off soon, which should put me down around 10 over the next few months. Needless to say, I was not surprised that my inquires were an issue, especially given my lower score and the couple of baddies still hanging around on my reports. I wouldn't think 3-4 inquires would be terrible, but it really will depend on what else is on your reports. 


FICO 8 | March 2023
Message 10 of 13
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