topic Re: Barclays and inq sensitivity in Credit Cards

Barclays and inq sensitivity

red259 — Sat, 09 Feb 2019 21:53:51 GMT

I know barclays is very sensitive to inqs and in the past they have pulled TU for me. During a card app for them will they look at the number of new accounts or will they look at the number of inqs when deciding if you have had too many new accounts in the last 24 months. I have heard numbers thrown around about them being like 6/24.

Re: Barclays and inq sensitivity

Gmood1 — Sat, 09 Feb 2019 22:09:14 GMT

They'll look at the number of new accounts. I've seen mention of the 6/24.
Not sure how many it really is? But they denied me with a TU right at 800.
The reason was the number of new accounts. I'm well passed lol/24, probably closer to No way in hell/24.😂

Re: Barclays and inq sensitivity

red259 — Sat, 09 Feb 2019 22:11:18 GMT

@Gmood1 wrote:
They'll look at the number of new accounts. I've seen mention of the 6/24.
Not sure how many it really is? But they denied me with a TU right at 800.
The reason was the number of new accounts. I'm well passed lol/24, probably closer to No way in hell/24.😂

Hmm so I will probably have to prioritize them right behind chase if I want to get their cards. I heard the AA cards are easier so not sure how difficult it will be vs going for an Arrival+

Re: Barclays and inq sensitivity

Gmood1 — Sat, 09 Feb 2019 22:14:43 GMT

Yeah, I'm not sure if it's any easier. Been there done that with the Arrival+. Cancelled it several years ago.

As long as you're under 6/24. You'll most likely grab it.

Re: Barclays and inq sensitivity

SouthJamaica — Sat, 09 Feb 2019 22:49:09 GMT

@Gmood1 wrote:
They'll look at the number of new accounts. I've seen mention of the 6/24.
Not sure how many it really is? But they denied me with a TU right at 800.
The reason was the number of new accounts. I'm well passed lol/24, probably closer to No way in hell/24.😂

They look at inquiries.

Re: Barclays and inq sensitivity

CreditCuriosity — Sat, 09 Feb 2019 22:58:43 GMT

6/24 only seems to apply for the arrival+ card as i am like 30/24 and can get any of there business/personal cards, but know to avoid the arrival+. As long as you can talk a good game if not instant approved such as my business AA card with them it is easy imo just gotta explain those cards away one way or another the arrival + is a different beast and no way around that due to huge sign-up bonus

Re: Barclays and inq sensitivity

red259 — Sat, 09 Feb 2019 23:00:35 GMT

@SouthJamaica wrote:
@Gmood1 wrote:
They'll look at the number of new accounts. I've seen mention of the 6/24.
Not sure how many it really is? But they denied me with a TU right at 800.
The reason was the number of new accounts. I'm well passed lol/24, probably closer to No way in hell/24.😂
They look at inquiries.

They definetly look at inquiries. I guess it stands to reason they would also check accounts actually opened in the past 24 months that have reported to the credit report, but then again maybe I am giving them too much credit.

Re: Barclays and inq sensitivity

Anonymous — Sat, 09 Feb 2019 23:15:24 GMT

I applied for the Aviator Red MC last month. They pulled TU 630’s Fico08. After I was declined, I called recon. They didn’t say anything about inq (I had 6 that were under a year old). The sole reason they declined (they said) was for new accounts. 8 in 12mo.

So, judging by the conversations I had with them, they’re more sensitive to new accounts than they are inq. I’m sure there is some kind of limit for inq, but who knows what that limit is. And, I’m sure it’s different for every profile as well. Hope this helps somewhat. Good luck to you!

Re: Barclays and inq sensitivity

Anonymous — Mon, 11 Feb 2019 18:09:16 GMT

@red259 wrote:
I heard the AA cards are easier so not sure how difficult it will be vs going for an Arrival+

My score was 780 and I was denied for the AA card for being over 6/24.

Re: Barclays and inq sensitivity

800FICOGoal — Mon, 11 Feb 2019 18:51:01 GMT

One of the reasons Im in the garden is to pass Barclays weird underwriting. When I exit my AAoA/AoYA should be 2 years, and I'll be at 0/24.

Re: Barclays and inq sensitivity

Anonymous — Mon, 11 Feb 2019 19:28:54 GMT

I applied for the AA card last month and was denied for LOL/24. The secondary reason was for inquiries (which was considerably lower than new accounts) so Barclays does give some weight to that metric as well.

I already have the Arrival Plus and made sure to put decent spend/activity on it for the 3 months leading up to the application. That didn't matter. Recon didn't budge My TU is 828. Everything else in my profile should've made the app a new account...

Re: Barclays and inq sensitivity

expatCanuck — Mon, 11 Feb 2019 21:01:56 GMT

I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.

Re: Barclays and inq sensitivity

800FICOGoal — Tue, 12 Feb 2019 00:58:25 GMT

@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.

This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds.

Re: Barclays and inq sensitivity

Gmood1 — Tue, 12 Feb 2019 01:48:25 GMT

@800FICOGoal wrote:
@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.
This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds.

Whose underwriting are you referring to? Generally from what I've experienced. The AAoA had no real impact on whether I was approved or denied. It had more to do with how each lender judges your credit profile. No two are the same. It would be nice if there were a magic number. After 60 plus apps over the last 3.9 years. I'm pretty confident AAoA isn't a major factor in gaining approvals.

The number of new accounts is the #1 reason for denials. That's if your files are free of derogs and your credit history is reasonable, say 24 months with 3 trade-lines as the base.

I'm no expert by any means. I base my statements purely off what I've experienced.

Re: Barclays and inq sensitivity

coldfusion — Tue, 12 Feb 2019 02:51:48 GMT

@Gmood1 wrote:
@800FICOGoal wrote:
@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.
This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds.
Whose underwriting are you referring to? Generally from what I've experienced. The AAoA had no real impact on whether I was approved or denied. It had more to do with how each lender judges your credit profile. No two are the same. It would be nice if there were a magic number. After 60 plus apps over the last 3.9 years. I'm pretty confident AAoA isn't a major factor in gaining approvals.
The number of new accounts is the #1 reason for denials. That's if your files are free of derogs and your credit history is reasonable, say 24 months with 3 trade-lines as the base.

I'm no expert by any means. I base my statements purely off what I've experienced.

I'd agree with you. Your experience pretty much aligns with mine.

BTW I was IIRC at 45/24 when I picked up my Uber Visa with instant approval. Profiles matter.

Re: Barclays and inq sensitivity

FinStar — Tue, 12 Feb 2019 03:39:12 GMT

@coldfusion wrote:
@Gmood1 wrote:
@800FICOGoal wrote:
@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.
This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds.
Whose underwriting are you referring to? Generally from what I've experienced. The AAoA had no real impact on whether I was approved or denied. It had more to do with how each lender judges your credit profile. No two are the same. It would be nice if there were a magic number. After 60 plus apps over the last 3.9 years. I'm pretty confident AAoA isn't a major factor in gaining approvals.
The number of new accounts is the #1 reason for denials. That's if your files are free of derogs and your credit history is reasonable, say 24 months with 3 trade-lines as the base.

I'm no expert by any means. I base my statements purely off what I've experienced.
I'd agree with you. Your experience pretty much aligns with mine.

BTW I was IIRC at 45/24 when I picked up my Uber Visa with instant approval. Profiles matter.

I would echo the above statements. And my experience has been very similar as that of @coldfusion and @Gmood1. Your specific profile, however they slice it and dice it throught that algorithm engine, is what determines the eventual outcome. Strategy is also key. LOL/24 here!

Re: Barclays and inq sensitivity

Anonymous — Tue, 12 Feb 2019 20:52:27 GMT

I applied for the Uber Visa back in August and was denied because of new accounts. My Fico 8 were all in mid-high 600's. When I called the recon department and asked about the denial they said it wasn't the inquires,it was because of the 7 new accounts I opened. He suggested I should let them age a year and then reaply if used responsibly. He also said he would refrain from opening any new cards if I want to get that one next . I took it as a great time to garden. I just paid off a bunch of cards and although I am sure my score is going to skyrocket I am going to really try and do what he suggested. I will benefit greatly from this card so it will be worth the wait.