topic Re: Barclays makes no sense in Credit Card Applications

Barclays makes no sense

Anonymous — Tue, 02 Feb 2016 04:31:46 GMT

So after I was declined for every BarclayCard I tried, I had my wife try for Apple Rewards. She got a letter today to call in for verification. She just called and after waiting on hold for 10 minutes got the security department. They asked 2 weird questions(what's the name of the person living with you and name of your last employer) and after verifying that she was transferred to a credit analyst. She asked about income and put her back on hold. When she came back, she asked about her new credit accounts. DW told her the same thing I did last week...when you are rebuilding credit you have to open some new accounts. She then immediately declined her. Exactly what answer are you supposed to give to that question and what was the point of asking for verification so you can deny based on information that was readily avaialable on the credit report? My wife has opened 3 accounts in the past 60 days. Amazon, Old Navy and Shell. You would think she just opened a $100k line of credit. We are done with Barclay.

Re: Barclays makes no sense

Anonymous — Tue, 02 Feb 2016 05:42:48 GMT

I don't blame you... Barclays is one lender where if I got AA'd tomorrow, I wouldn't give two sh*ts.

They have treated me like a criminal both times I requested a CLI on my $5K Arrival. Complete waste of HP's.

Plenty of lenders look past my aggressive credit seeking and look at my overall profile instead; Barclays is just one creditor I don't need in my life. I leave the card in my signature simply because I think it's hilarious they haven't closed my account yet with 20+ new accounts opened since I got my Arrival in 09/2015. It just sits there at $0 balance and basically zero spend since November... patiently waiting for them to either auto CLI or AA.

Re: Barclays makes no sense

Anonymous — Tue, 02 Feb 2016 17:09:17 GMT

Yup I am not a fan of Barclay's. I have their Rewards visa and have for a year and a half. Everytime I try to apply for another card (my score is in line and everything else) they decline me due to sufficient credit then when I have recon'd they pull another hard on me just to decline me for the same reason. I don't care for their practices that is just my opinion. I won't be trying for another card ever again and I sock draw my visa.

Re: Barclays makes no sense

Anonymous — Tue, 02 Feb 2016 17:10:59 GMT

I agree even Chase looks past inquiries and new accounts. I'd consider Chase a more prime lender than Barclay's. They just flat out decline for inquiries. I get it in a way but look at the overall profile not just a few recent inquiries. I am totally turned off by them.

Re: Barclays makes no sense

ddemari — Tue, 02 Feb 2016 17:35:14 GMT

I have had a relationship with Barclays longer than Chase but only by like 6 months and from my experience they are far more conservative than Chase is.

Chase does actually value your relationship with them, they can look past a lot of new accounts these days for their Co-branded cards. They also offer a extensive line up of cards that barclays cant compete with.

Barclays likes you, then doesnt like you and its their cycle. My best luck with them now is too put distance between any new apps with them. in 2014 I was approved for Apple Visa, SallieMae MasterCard, Arrival + WEMC and Us Airways World MasterCard. Then for a while I was always at sufficient credit and no more apps or CLI's. So i stopped seeking with them for about a year. When I got approved for LL Bean Visa last year I was shocked as my reports were heavy on the new accounts and inquiries but a good TU score. At that point I believe they looked at my relationship with them but I still can see them pulling the plug on me at anytime.

She can try to recon once more and this time be prepared for giving the right anwsers to the questions they asked or at least a more prepared response to their questions. Or just move on.

Re: Barclays makes no sense

ojefferyo — Tue, 02 Feb 2016 18:07:23 GMT

With Barclay you have to show the need for the CLI, I never had any problems with getting cards or CLI from them. I normally run alot through my Arrival card, currently sitting at 20k so they do give out big increases.

Re: Barclays makes no sense

thummel — Tue, 02 Feb 2016 18:22:07 GMT

They denied me for the ring with almost a 750TU score. I have a perfect report and payment history and a decent file and they denied me for the sole reason of too many accounts in all of 2015. I know a couple of people who have recently been declined for a card from them. Not sure why there so strict to be honest. Chase and Citi both approved me just fine.

Re: Barclays makes no sense

ojefferyo — Tue, 02 Feb 2016 23:34:14 GMT

@thummel wrote:
They denied me for the ring with almost a 750TU score. I have a perfect report and payment history and a decent file and they denied me for the sole reason of too many accounts in all of 2015. I know a couple of people who have recently been declined for a card from them. Not sure why there so strict to be honest. Chase and Citi both approved me just fine.

They are inquiry sensitive to a point. How many did you have and how many new cards did you get? What's your oldest card on your profile?

Re: Barclays makes no sense

Anonymous — Wed, 03 Feb 2016 00:05:01 GMT

3 accounts in 60 days is a lot for someone with a 620 TU.

Re: Barclays makes no sense

Anonymous — Wed, 03 Feb 2016 01:32:56 GMT

How do you figure 3 new accounts with a total of $1250 as alot of new accounts in 60 days? How exactly does one rebuild without opening new accounts? Besides, both the Barclay Rewards and Apple are rebuilder cards. People with better credit will not be applying for those cards. I am the perfect candidate for those cards. However, since they denied me for inquiries, by the time these inquiries drop off my scores will be much better and I won't need them. Of course, this is just my opinion. BTW...my income and utilization should minimize any concerns about my credit inquiries.

Re: Barclays makes no sense

Anonymous — Wed, 03 Feb 2016 02:00:57 GMT

I half thought about trying for the new Jet Blue card in 6 months but ehhhhh... I wish another lender picked up the Jet Blue relationship.

Re: Barclays makes no sense

Anonymous — Wed, 03 Feb 2016 04:45:29 GMT

@Anonymous wrote:
How do you figure 3 new accounts with a total of $1250 as alot of new accounts in 60 days? How exactly does one rebuild without opening new accounts? Besides, both the Barclay Rewards and Apple are rebuilder cards. People with better credit will not be applying for those cards. I am the perfect candidate for those cards. However, since they denied me for inquiries, by the time these inquiries drop off my scores will be much better and I won't need them. Of course, this is just my opinion. BTW...my income and utilization should minimize any concerns about my credit inquiries.

I know the total CL isn't much, and 3 accounts in 60 days is common around here, but it's a lot of activity compared to the general consumer population and what many issuers are going to be comfortable with. A lot of new accounts, regardless of credit limits, may suggest a person is either desperate or disorganized. You may have given the CSR (edit: *the idea*) that you just wanted the card to report history and didn't want to actually spend on it.

Good credit isn't built in a day; rebuilding takes even longer and you don't need a lot of accounts to rebuild. As the saying goes, you can't make a baby in a month by getting nine women pregnant.

Focus on showing good history with the accounts you currently have, and be more patient before opening more credit.

Re: Barclays makes no sense

degs138 — Wed, 03 Feb 2016 04:41:17 GMT

+1 with careful builder 14. I've had a good history with barclay. I didn't get a bunch of rebuilder cards. Tried to build on cap one and get prime cards along the way.

Re: Barclays makes no sense

Anonymous — Thu, 04 Feb 2016 20:15:27 GMT

@Anonymous wrote:
How do you figure 3 new accounts with a total of $1250 as alot of new accounts in 60 days? How exactly does one rebuild without opening new accounts? Besides, both the Barclay Rewards and Apple are rebuilder cards. People with better credit will not be applying for those cards. I am the perfect candidate for those cards. However, since they denied me for inquiries, by the time these inquiries drop off my scores will be much better and I won't need them. Of course, this is just my opinion. BTW...my income and utilization should minimize any concerns about my credit inquiries.

You rebuild with the accounts you have and you let those grow. You're not the perfect candidate for ANY Barclay's card if you intend to apply for a bunch more accounts on top of that. They are one of those lenders that like to be a part of a small list of other credit cards in your file. If you use it properly and PIF every month, Barclays can be very rewarding (I have seen $20k Rewards cards in the past with good history), but give them any reason to doubt your credit history, and good luck.