topic Re: Regretting Barclay Ring approval... in Credit Card Approvals

Regretting Barclay Ring approval...

Anonymous — Fri, 08 Sep 2017 17:12:19 GMT

I'm beginning to have buyers remorse as I just applied for the Ring card and was approved for $10,000. I felt like I wasted an inquiry as I have other cards that offer much better rewards. Does anyone know if I can use the 0% balance transfer next year sometime? I don't need to transfer anything now as I have 0% on another card for the next 18 months. Darn, the rewards just stink on this card. Do they at least offer periodic 0% balance transfers? Thanks guys.

Re: Regretting Barclay Ring approval...

Anonymous — Fri, 08 Sep 2017 17:25:44 GMT

Congrats on the approval. They do offer 0% periodically. But remember, this is barclays. Prepare yourself for surprises.

Re: Regretting Barclay Ring approval...

CreditMagic7 — Fri, 08 Sep 2017 17:27:12 GMT

Think that card is more of a Low APR variety almost exclusively for the most part and they lean not as much toward rewards per say.

Decent approval limit though. Congrats on your new approval and maybe it can at least build you history where later on you might product change it for a better rewards version that suits your plans.

Re: Regretting Barclay Ring approval...

LadyJEsq — Fri, 08 Sep 2017 17:41:49 GMT

Congrats on your approval. Sorry to hear that you're having buyers remorse now. Hopefully, it'll at least help with your Util. You won't be able to use the current 0% offer next year, I think it's within 45days of account opening, but as another poster mentioned, maybe you'll get a periodic offer that'll come at a time when you need it. Since this CC is strictly a BT CC, with no rewards or signup bonus, may I ask, what made you apply?

Re: Regretting Barclay Ring approval...

Anonymous — Fri, 08 Sep 2017 17:42:41 GMT

@CreditMagic7 wrote:
Think that card is more of a Low APR variety almost exclusively for the most part and they lean not as much toward rewards per say.

Decent approval limit though. Congrats on your new approval and maybe it can at least build you history where later on you might product change it for a better rewards version that suits your plans.

No longer a low Apr Card. Variable rate is 13.99% right now and no rewards. GADS virtually everyone offers a better card for the current Apr.

Re: Regretting Barclay Ring approval...

Anonymous — Fri, 08 Sep 2017 18:00:21 GMT

All three reports are finally clean and my true Fico socres are all in the 780's. I've always wanted a Ring card and decided to go for it. I also applied for the Merril Lynch 50k point bonus card but that is pending review. It's been a long road but I have finally arrived! Thanks guys!

Re: Regretting Barclay Ring approval...

CreditMagic7 — Fri, 08 Sep 2017 18:30:50 GMT

@Anonymous wrote:
@CreditMagic7 wrote:
Think that card is more of a Low APR variety almost exclusively for the most part and they lean not as much toward rewards per say.

Decent approval limit though. Congrats on your new approval and maybe it can at least build you history where later on you might product change it for a better rewards version that suits your plans.
No longer a low Apr Card. Variable rate is 13.99% right now and no rewards. GADS virtually everyone offers a better card for the current Apr.

Was 8% for the longest time when i first was approved for it and beyond but since it's no longer even competitive with the APR then it's obviously merely a dust warmer.

No rewards + no 8% APR (at least) the suggestion i made seems an only route. That is make some history with it and PC over to something else they might have for rewards purposes.

Re: Regretting Barclay Ring approval...

Gunnar419 — Fri, 08 Sep 2017 18:43:46 GMT

@CreditMagic7 wrote:
@Anonymous wrote:
@CreditMagic7 wrote:
Think that card is more of a Low APR variety almost exclusively for the most part and they lean not as much toward rewards per say.

Decent approval limit though. Congrats on your new approval and maybe it can at least build you history where later on you might product change it for a better rewards version that suits your plans.
No longer a low Apr Card. Variable rate is 13.99% right now and no rewards. GADS virtually everyone offers a better card for the current Apr.
Was 8% for the longest time when i first was approved for it and beyond but since it's no longer even competitive with the APR then it's obviously merely a dust warmer.

No rewards + no 8% APR (at least) the suggestion i made seems an only route. That is make some history with it and PC over to something else they might have for rewards purposes.

I'd been wondering why no one talked about the Ring any more. For a while everybody loved it and then it disappeared from discussion. Thanks for the explanations.

Re: Regretting Barclay Ring approval...

Anonymous — Fri, 08 Sep 2017 22:49:28 GMT

I can't tell from your post if you know this, so ignore me if you do. It's also 0% APR for 15 mo on purchases if that's something you can use, not just 15 months 0% APR on BTs.

They are having a promo right now. I don't know if it's a targeted offer or for every Ring card. If you spend $500 in Sept, you get a $15 credit. That's up to 3% back. (Of course, the more you go over $500, the lower the return.) It's not amazing, but it's nice to use on a category not otherwise covered by your other cards. (I have two 2% on everything cards.) If you don't have that offer now, you may get another useful offer later.

Re: Regretting Barclay Ring approval...

AverageJoesCredit — Sat, 09 Sep 2017 03:49:44 GMT

Congrats and sorry?

Re: Regretting Barclay Ring approval...

Jerry45 — Sat, 09 Sep 2017 14:38:53 GMT

@sanglee24 wrote:
I'm beginning to have buyers remorse as I just applied for the Ring card and was approved for $10,000. I felt like I wasted an inquiry as I have other cards that offer much better rewards. Does anyone know if I can use the 0% balance transfer next year sometime? I don't need to transfer anything now as I have 0% on another card for the next 18 months. Darn, the rewards just stink on this card. Do they at least offer periodic 0% balance transfers? Thanks guys.

It is a top tier card with a nice CL, and no annual fee. All good

Re: Regretting Barclay Ring approval...

Anonymous — Sat, 09 Sep 2017 17:40:57 GMT

How can that be a low rate card? I just got the Apple card at 14.99%. That’s lower than OPs and the Apple is not even a low rate card that I know of. I agree with @dino on that.

Either way-Congrats OP?? Or..... Sorry as @AJC said.

Remember cards report and count towards age the same if open or closed. If you don’t want it-close it. It’s odd and they may think you are strange to do so but tell them you needed a much higher SL or something. Or keep the card... 10k will help with utilization since you said you are carrying a balance on a 0% Card.

The one good thing on Barclays is they let you PC and Reallocate. DH has had the Apple Card for 3 years. Never uses it. Gets CLI every 6 mo of usually $2500-$3000 each time. Now sitting at $17945. Weird limit but that’s how it goes. So some people Barclays ends up being a good Card. I closed my first one back when they CLD me for too many INQs during an AR.... but just opened another today after I swore them off. So I’m giving them one more chance.

Either way... instant approvals are nice and the SL you got it very nice... so enjoy that part at least.

Re: Regretting Barclay Ring approval...

Anonymous — Sat, 09 Sep 2017 19:56:28 GMT

@sanglee24 wrote:
I'm beginning to have buyers remorse as I just applied for the Ring card and was approved for $10,000. I felt like I wasted an inquiry as I have other cards that offer much better rewards. Does anyone know if I can use the 0% balance transfer next year sometime? I don't need to transfer anything now as I have 0% on another card for the next 18 months. Darn, the rewards just stink on this card. Do they at least offer periodic 0% balance transfers? Thanks guys.

Don't apply for anything else. No new inquiries or new accounts, they get very jealous when you start cheating on them. They are known to give people who cheat a really impressive CLD.

Moreover, if the wind blows in the wrong direction they have been known to CLD you as well. Some card holders have reported a CLD for simply sneezing to loud.

I had the Ring at 8%, I felt like cheating, so I broke up with them before they dumped me.

Re: Regretting Barclay Ring approval...

Anonymous — Sun, 10 Sep 2017 16:53:00 GMT

Thanks for the advice but I truly dont care if they take adverse action on a cc that I will never use (other than 0% bt offers). If I would have known that they reduce limits all the time, I would have never applied for this card. It's my fault as I should have done more research. Thanks again Donny.

Re: Regretting Barclay Ring approval...

Anonymous — Sun, 10 Sep 2017 16:54:22 GMT

And believe me, I will cheat on them constantly! LOL, love the analogy!

Re: Regretting Barclay Ring approval...

Anonymous — Sun, 10 Sep 2017 17:07:37 GMT

@sanglee24 wrote:
Thanks for the advice but I truly dont care if they take adverse action on a cc that I will never use (other than 0% bt offers). If I would have known that they reduce limits all the time, I would have never applied for this card. It's my fault as I should have done more research. Thanks again Donny.

Hey, anytime. Just keep an eye on the account if you do a BT and then start cheating(lol). They have been known to do a CLD down to what you owe. Then the account as you know will show 100% utilization.