topic Re: Barclaycard Rewards Mastercard: Should I Recon? in Credit Cards

Barclaycard Rewards Mastercard: Should I Recon?

Anonymous — Wed, 04 Apr 2012 02:26:42 GMT

Well I miiiiggghhhtttt have pushed my luck a little too far this time.

Late Dec 2011: Qualified for Barclaycard Finance card

January: Qualified for Chase Freedom Card

February: Qualified for a CareCredit line to have Lasik done (paid off within the month)

Mid-February: Qualified for a Citi Platinum Select

Med-February: Applied for Amex Blue Cash - Denied

Mid-March: Applied for Chase Ink - Denied

April 2nd: Qualified for Amex CLEAR

And today, I applied for what I was hoping would be my LAST card to ever apply for--a 5 major credit card portfolio with a Barclaycard Rewards Mastercard (I needed a Mastercard in my collection). Denied.

What prompted me was reading some of the posts where it was stated Barclaycard doesn't care so much about new credit or inquiries as much as it does sudden BALANCES combined with new credit. I have less than 1% utilization on all my cards. Had a FICO of 753 but the Barclaycard TU pull says it was 715 (maybe from last night's Amex approval?).

Question is... should I recon or hope I didn't awaken the sleeping Barclaycard monster and just leave the denial alone--then apply in about a year when all my apping dust settles? I've seen positive indicators with Barclaycard recons here but I'm wondering if I call if I'm just putting the nails in my own coffin with no chance of flying under the radar. Does it matter either way at this point?

Re: Barclaycard Rewards Mastercard: Should I Recon?

LS2982 — Wed, 04 Apr 2012 02:21:25 GMT

I would call in for a recon.

Re: Barclaycard Rewards Mastercard: Should I Recon?

bichonmom — Wed, 04 Apr 2012 02:27:00 GMT

@Anonymous wrote:
Well I miiiiggghhhtttt have pushed my luck a little too far this time.

Late Dec 2011: Qualified for Barclaycard Finance card
January: Qualified for Chase Freedom Card
February: Qualified for a CareCredit line to have Lasik done (paid off within the month)
Mid-February: Qualified for a Citi Platinum Select
Applied for Amex Blue Cash: Denied
Applied for Chase Ink: Denied
April 2nd: Qualified for Amex CLEAR

And today, I applied for what I was hoping would be my LAST card to ever apply for--a 5 major credit card portfolio with a Barclaycard Rewards Mastercard (I needed a Mastercard in my collection). Denied.

What prompted me was reading some of the posts where it was stated Barclaycard doesn't care so much about new credit or inquiries as much as it does sudden BALANCES combined with new credit. I have less than 1% utilization on all my cards. Had a FICO of 753 but the Barlaycard TU pull says it was 715 (maybe from last night's Amex approval?).

Question is... should I recon or hope I didn't awaken the sleeping Barclaycard monster and just leave the denial alone--then apply in about a year when all my apping dust settles? I've seen positive indicators with Barclaycard recons here but I'm wondering if I call if I'm just putting the nails in my own coffin with no chance of flying under the radar. Does it matter either way at this point?

That's not really true at all. Barclay's does NOT like to see new credit for several months -- either before or after -- getting their CCs. You've opened 4 new TLs (in addition to Barclay's) in barely 3 months.

Maybe if you only opened ONE new CC and your util was low, you'd be okay. But 4 new TLs in 3 mos is a different story. You'll be lucky if they don't CLD the Barclay's card you got in December. IMO, I would NOT push your luck by a recon, and hope you stay under their radar. If they catch wind of all of the new credit you'v gotten in the 3 mos since getting their cards, they'll either CLD or close your acct.

Re: Barclaycard Rewards Mastercard: Should I Recon?

aussiesareforever — Wed, 04 Apr 2012 02:26:34 GMT

I remember reading a post about somebody who called for a recon for a CLI on a Barclay's card. The CLI was declined and his card was shut down for recent inquiries.

Obviously, YMMV but I would probably recommend letting the sleeping giant lie

Re: Barclaycard Rewards Mastercard: Should I Recon?

Anonymous — Wed, 04 Apr 2012 02:29:45 GMT

@daisydvm wrote:
I remember reading a post about somebody who called for a recon for a CLI on a Barclay's card. The CLI was declined and his card was shut down for recent inquiries.

Obviously, YMMV but I would probably recommend letting the sleeping giant lie

Yeah, I read that too. I just couldn't leave it alone. [Bashes head against wall.]

Re: Barclaycard Rewards Mastercard: Should I Recon?

LS2982 — Wed, 04 Apr 2012 02:31:03 GMT

Im sry I didnt catch that you already have a Barclays acct. opned. In that case +1 to the above do not recon!

Re: Barclaycard Rewards Mastercard: Should I Recon?

Anonymous — Wed, 04 Apr 2012 02:33:45 GMT

Okay, thanks for the advice!

Re: Barclaycard Rewards Mastercard: Should I Recon?

Anonymous — Wed, 04 Apr 2012 06:30:11 GMT

Seems like what triggers CLD with Barclay right now is getting denied for something by an automated system, either new credit or CLI, then calling in for recon and having a manual review by a person.

Just fly under the radar unless you're a true gambler.

Re: Barclaycard Rewards Mastercard: Should I Recon?

LS2982 — Wed, 04 Apr 2012 11:04:16 GMT

@Anonymous wrote:
Seems like what triggers CLD with Barclay right now is getting denied for something by an automated system, either new credit or CLI, then calling in for recon and having a manual review by a person.

Just fly under the radar unless you're a true gambler.

Re: Barclaycard Rewards Mastercard: Should I Recon?

navigatethis12 — Wed, 04 Apr 2012 11:44:34 GMT

I personally think that the adverse action Barclays does is not as common as it may seem. The same for the American Express finacial review. It is just because there are a lot of threads on here and a few other sites mentioning it. Keep in mind though, that there are over 300 million people in the United States and these sites are but just a few people.

Anyway, I applied for the Barclay Rewards Mastercard and was denied due to short history and maybe inquiries. I rang them up, the gentleman saw the inquiries and a few of the new accounts had reported and asked about them. I just said I was young and trying to establish credit with bank cards instead of just store cards. He then approved me for $2500 and said in a few months I could request an increase if need be. Since then the other accounts have reported, ten in all, and they have softed Transunion and I think Experian twice. I also jut got approved for the Chase Sapphire Preferred but it probably will not report until late this month or early May.

I have had no adverse action on the account. Granted I did not ring in and talk to an analyst about anything but people have said that even without doing so their accounts were shut down. I do not have any balances on any of the cards ever so that may be it. I think as long as your reports look good they probably will not mind. I also think that if your report had some derogatory information they would be more inclined to take action because they may think that you are going to default on them this time and that their card should be enough.

I would say to go ahead and ring them up. They have not said anything about your new accounts so far so they probably will not now.

Re: Barclaycard Rewards Mastercard: Should I Recon?

Open123 — Wed, 04 Apr 2012 13:10:26 GMT

@navigatethis12 wrote:
I personally think that the adverse action Barclays does is not as common as it may seem. The same for the American Express finacial review. It is just because there are a lot of threads on here and a few other sites mentioning it. Keep in mind though, that there are over 300 million people in the United States and these sites are but just a few people.

This is true, and probably is for most issuers, or any other large company.

My take would be to recon, if there is something you value to be gained--such as signup bonus or features of the card you find useful. For me, it isn't worth the risk just to have a new credit line that's a MC.