topic Re: Barclays is W O N D E R F U L.... in Credit Cards

Barclays is W O N D E R F U L....

Andy77 — Thu, 22 Dec 2011 22:04:47 GMT

I wanted to share my exdperience with Barclays.....I had a BK discharged in 2009 all my cards are maxed now. Fico is about 645

Applied online for the Apple Financing Visa and got an instant approval for 1200. I called up Barclays before I got the card and said I wanted to get a Macbook pro for 1700.00

I actually talked to an alalyst who asked me why I had to file my BK in 2009 and why my cards were maxed I told him and he instantly gave me the 1700 limit.

An increase of 500.00

THIS is how credit should be given!!!

Re: Barclays is W O N D E R F U L....

Anonymous — Thu, 22 Dec 2011 22:11:12 GMT

Great news Andy!!!

Congratulations, well done.

Happy Holidays to You and Yours.

Re: Barclays is W O N D E R F U L....

2NE1 — Thu, 22 Dec 2011 22:17:19 GMT

do you know if that's the lowest score that can approve your app?

I'm reaching the 600's and I'd love to finance an iPad! do you know which CBR do they pull?

Re: Barclays is W O N D E R F U L....

JusdoNit — Thu, 22 Dec 2011 22:24:39 GMT

Sounds Wonderful

Re: Barclays is W O N D E R F U L....

Juan123 — Thu, 22 Dec 2011 22:26:45 GMT

i love barclays and i havent even gotten my card yet!!!! i was denied online, recon'd and approved for $1990. she even said something along the lines of "i dont know why they denied you, you're payment history is great"

made me happy >_<

Re: Barclays is W O N D E R F U L....

Anonymous — Thu, 22 Dec 2011 22:31:18 GMT

@2NE1 wrote:

do you know if that's the lowest score that can approve your app?

I'm reaching the 600's and I'd love to finance an iPad! do you know which CBR do they pull?

Barclay pulls TU 99.9%

Re: Barclays is W O N D E R F U L....

Anonymous — Thu, 22 Dec 2011 23:38:40 GMT

@Andy77 wrote:

I wanted to share my exdperience with Barclays.....I had a BK discharged in 2009 all my cards are maxed now. Fico is about 645

Applied online for the Apple Financing Visa and got an instant approval for 1200. I called up Barclays before I got the card and said I wanted to get a Macbook pro for 1700.00

I actually talked to an alalyst who asked me why I had to file my BK in 2009 and why my cards were maxed I told him and he instantly gave me the 1700 limit.
An increase of 500.00

THIS is how credit should be given!!!

what did u tell him?

Re: Barclays is W O N D E R F U L....

visorboy1974 — Thu, 22 Dec 2011 23:40:27 GMT

@Anonymous wrote:
@Andy77 wrote:

I wanted to share my exdperience with Barclays.....I had a BK discharged in 2009 all my cards are maxed now. Fico is about 645

Applied online for the Apple Financing Visa and got an instant approval for 1200. I called up Barclays before I got the card and said I wanted to get a Macbook pro for 1700.00

I actually talked to an alalyst who asked me why I had to file my BK in 2009 and why my cards were maxed I told him and he instantly gave me the 1700 limit.
An increase of 500.00

THIS is how credit should be given!!!
what did u tell him?

I want to know this as well. If I app'd for a CC with 100% UTIL and a BK, I'd be getting denied 110% of the time LOL.

Re: Barclays is W O N D E R F U L....

2NE1 — Thu, 22 Dec 2011 23:55:41 GMT

@Mustanglvr2006

really? my TU shows a higher score than EQ and EX!

Re: Barclays is W O N D E R F U L....

visorboy1974 — Thu, 22 Dec 2011 23:59:20 GMT

@2NE1 wrote:

@Anonymous

really? my TU shows a higher score than EQ and EX!

It's true

Re: Barclays is W O N D E R F U L....

Andy77 — Fri, 23 Dec 2011 00:06:27 GMT

I told them that I got laid off in 2009 when the economy was in the toilet and that is what forced me into my BK. I told them the reason why my cards were maxed was beause I wanted to show that I could pay on time each month vs. paying off the balances in full because given that I have a BK on my credit file what would be the point of PIF... its not like my score would sore to 750 LOL as of now...

Re: Barclays is W O N D E R F U L....

Anonymous — Fri, 23 Dec 2011 00:06:41 GMT

@visorboy1974 wrote:
@2NE1 wrote:

@Anonymous

really? my TU shows a higher score than EQ and EX!
It's true

It is indeed true.

Re: Barclays is W O N D E R F U L....

Creditaddict — Fri, 23 Dec 2011 00:34:42 GMT

@Andy77 wrote:
I told them that I got laid off in 2009 when the economy was in the toilet and that is what forced me into my BK. I told them the reason why my cards were maxed was beause I wanted to show that I could pay on time each month vs. paying off the balances in full because given that I have a BK on my credit file what would be the point of PIF... its not like my score would sore to 750 LOL as of now...

This statement is all kinds of wrong! Maxing out a credit card and then not paying it off beccause you want to show that you can make on time payments is exactly why I would have declined you... If you have already gone through BK and you now have lets say 4 $500 limit cards that are almost at $500 each... not paying them off to me would show you CANT handle the limits that you currently have so why would I give you more. and actually paying your cards in full and letting them report as such leaving 1 small balance on 1 card under 9% of credit line will make your score go considerably up! This is even further important when you have bad marks on your credit in past and rebuilding for bigger and better terms and limits with more prime banks, If you can't handle a $500 card Chase is not going to give you $10k and say lets see if you can handle that payment. I'm still just shocked that you said that to an underwriter and he thought that was a good idea also and approved you!

None the less not hating, congrats on the new card... I just got one last month.

Re: Barclays is W O N D E R F U L....

Anonymous — Fri, 23 Dec 2011 00:49:39 GMT

@Andy77 wrote:
I told them that I got laid off in 2009 when the economy was in the toilet and that is what forced me into my BK. I told them the reason why my cards were maxed was beause I wanted to show that I could pay on time each month vs. paying off the balances in full because given that I have a BK on my credit file what would be the point of PIF... its not like my score would sore to 750 LOL as of now...

I do understand your logic behind this, but I also have to agree with Creditaddict on this one.

Re: Barclays is W O N D E R F U L....

Creditaddict — Fri, 23 Dec 2011 00:50:55 GMT

@Anonymous wrote:
@Andy77 wrote:
I told them that I got laid off in 2009 when the economy was in the toilet and that is what forced me into my BK. I told them the reason why my cards were maxed was beause I wanted to show that I could pay on time each month vs. paying off the balances in full because given that I have a BK on my credit file what would be the point of PIF... its not like my score would sore to 750 LOL as of now...
I do understand your logic behind this, but I also have to agree with Creditaddict on this one.

Or did I read that wrong that you are PIF but you are waiting until you receive your statement vs paying before statement and having all credit cards look like they are not even being used?

IF this is the case you need to rotate the card that you want to report a balance each month and pay the balance down below the 9% and pay all the others to $0... It's great when you can get an underwriter and convince them that you actually PIF each month but when it comes to future apps and with some of the banks that we can't get recon like Barclay you are going to get declined by computer for other apps for being maxed...

Re: Barclays is W O N D E R F U L....

Anonymous — Fri, 23 Dec 2011 00:54:42 GMT

@Creditaddict wrote:
@Anonymous wrote:
@Andy77 wrote:
I told them that I got laid off in 2009 when the economy was in the toilet and that is what forced me into my BK. I told them the reason why my cards were maxed was beause I wanted to show that I could pay on time each month vs. paying off the balances in full because given that I have a BK on my credit file what would be the point of PIF... its not like my score would sore to 750 LOL as of now...
I do understand your logic behind this, but I also have to agree with Creditaddict on this one.
Or did I read that wrong that you are PIF but you are waiting until you receive your statement vs paying before statement and having all credit cards look like they are not even being used?
IF this is the case you need to rotate the card that you want to report a balance each month and pay the balance down below the 9% and pay all the others to $0... It's great when you can get an underwriter and convince them that you actually PIF each month but when it comes to future apps and with some of the banks that we can't get recon like Barclay you are going to get declined by computer for other apps for being maxed...

im so lost on this post

Re: Barclays is W O N D E R F U L....

TryN2Rebuild — Fri, 23 Dec 2011 00:55:42 GMT

Did you BK on Barclays?

Re: Barclays is W O N D E R F U L....

Anonymous — Fri, 23 Dec 2011 01:27:01 GMT

@Creditaddict wrote:
@Anonymous wrote:
@Andy77 wrote:
I told them that I got laid off in 2009 when the economy was in the toilet and that is what forced me into my BK. I told them the reason why my cards were maxed was beause I wanted to show that I could pay on time each month vs. paying off the balances in full because given that I have a BK on my credit file what would be the point of PIF... its not like my score would sore to 750 LOL as of now...
I do understand your logic behind this, but I also have to agree with Creditaddict on this one.
Or did I read that wrong that you are PIF but you are waiting until you receive your statement vs paying before statement and having all credit cards look like they are not even being used?
IF this is the case you need to rotate the card that you want to report a balance each month and pay the balance down below the 9% and pay all the others to $0... It's great when you can get an underwriter and convince them that you actually PIF each month but when it comes to future apps and with some of the banks that we can't get recon like Barclay you are going to get declined by computer for other apps for being maxed...

I believe you read it correctly the first time, he maxed out his cards and is not PIF each month because he thinks it will show his current lenders he can pay them off in time showing a good payment history.

Like I said I can understand how you could think this would look good to your current and potential lenders, but it's not the best way, the best way would be to PIF each card every month except one, let one CC report a small balance, keeping you at <9% util.

It is really surprising that you were approved upon recon, explaining what you did to the underwriter.

But, you were approved and that's awesome!!

Re: Barclays is W O N D E R F U L....

Andy77 — Fri, 23 Dec 2011 06:50:37 GMT

I did include a Barclays card in my BK.

I have the cash to pay in full, but I am having a hard time parting with it..I know crazy!!!

Re: Barclays is W O N D E R F U L....

visorboy1974 — Fri, 23 Dec 2011 08:32:16 GMT

@Andy77 wrote:
I have the cash to pay in full, but I am having a hard time parting with it..I know crazy!!!

If you have the cash to pay in full, it's best to pay the cards off. It'll increase your FICO...maybe not to 750 (you won't see 750 with a BK on your report) but you can easily get it over 700. I've had mine over 720 5 years post BK and that's without all the IIB accounts falling off yet. I think my scores can only improve.

I look at it this way...why pay banks money when you don't have to?