topic Re: Should I app for 2nd Barclays card? in Credit Cards

Should I app for 2nd Barclays card?

DVH1980 — Sat, 07 Apr 2012 18:31:25 GMT

My TU score is my highest right now 670 FAKO(had a collection pop up on EX an EQ, will be gone by months end) . I only have 4 INQ in the last year on my TU and 2 of those are from Barclays and none in the last 6 months. I was approved for the Barclays Apple card 7 months ago with a 1200 limit and they bumped it to 2200 a couple weeks ago. While I am satisfied with that limit I would rather have a card with rewards and use it to pay all my monthly expenses.

The second reason being I want to dump a couple of my builder cards that have lower limits, fees and AF's.

Lastly, I want to shoot for a Discover come the end of the year and would rather have fewer trade lines with higher limits than a bunch of lines with low limits. My current cards are

Cap1 Secured-800.00

Cap1 Platinum Rewards-750.00

Credit One- 500.00

First Premiere-525.00

Orchard- 400.00

USAA Amex Secured-500.00

Barclays-2200.00

Id like to dump Orchard and First Premiere if I can get a good CL from Barclays on a second card. Thoughts on getting approved? Was thinking Barclays Rewards?

Re: Should I app for 2nd Barclays card?

bichonmom — Sat, 07 Apr 2012 18:37:44 GMT

@DVH1980 wrote:
My TU score is my highest right now 670 FAKO(had a collection pop up on EX an EQ, will be gone by months end) . I only have 4 INQ in the last year on my TU and 2 of those are from Barclays and none in the last 6 months. I was approved for the Barclays Apple card 7 months ago with a 1200 limit and they bumped it to 2200 a couple weeks ago. While I am satisfied with that limit I would rather have a card with rewards and use it to pay all my monthly expenses.

The second reason being I want to dump a couple of my builder cards that have lower limits, fees and AF's.

Lastly, I want to shoot for a Discover come the end of the year and would rather have fewer trade lines with higher limits than a bunch of lines with low limits. My current cards are
Cap1 Secured-800.00
Cap1 Platinum Rewards-750.00
Credit One- 500.00
First Premiere-525.00
Orchard- 400.00
USAA Amex Secured-500.00
Barclays-2200.00

Id like to dump Orchard and First Premiere if I can get a good CL from Barclays on a second card. Thoughts on getting approved? Was thinking Barclays Rewards?

I don't know how you'd do w/a 2nd Barclay's. They've already given you your highest CL, so I'm not sure how you'd do w/a 2nd card w/them. I'd call some local CUs and see what they can do for you. They tend to be more generous and help people to build and rebuild credit. CUs do vary so you may need to call a few before you find one you like.

I'd definitely axe your highest AF cards, like Credit One, FP and Orchard. You might want to keep the Cap Ones open for another year, until you've built more history w/newer cards.

Re: Should I app for 2nd Barclays card?

LS2982 — Sat, 07 Apr 2012 18:43:52 GMT

Id axe Orchard, FP, CreditOne now. I would also stay with 1 Barclaycard at least for a full year before asking for a 2nd.

Re: Should I app for 2nd Barclays card?

DVH1980 — Sat, 07 Apr 2012 18:44:28 GMT

Ive thought about going the CU route, iw ould need to wait a few more months as I have already opened a car loan with them but its only 6 months old. I initally applied for a credit card through them after they approved my loan and was denied, but all my credit cards have aged another 6 months from then as well as showing perfect paymenhts on my loan so maybe I could try again.

I thought Barclays would be a good bet since I already have one of their cards with perfect payments and TU is my best looking CR. I'll keep the Cap1 cards, I really want to dump the other 3, the only one that would be tough is the FP, only because ive had it for 3 years, but I would get over it quickly

Re: Should I app for 2nd Barclays card?

LS2982 — Sat, 07 Apr 2012 18:52:33 GMT

@DVH Are you paying monthly fees to FP?

Re: Should I app for 2nd Barclays card?

DVH1980 — Sat, 07 Apr 2012 18:58:32 GMT

Yep My limit with them was only 375.00 until last week when I requested a CLI. Credit One and Orchard I was holding onto for utilization purposes before Barclays bumped me up 1k last week. First Pemiere is my oldest card by a large margin, I know I wont feel the effects from dropping it AAoA wise since it will still report for 10 years but Im hesitant as its my oldest active account since I started rebuilding a couple years ago(got real serious about rebulding in Aug 2011 and moved up 100pts)

Re: Should I app for 2nd Barclays card?

LS2982 — Sat, 07 Apr 2012 19:07:15 GMT

@DVH Trust me, axe it. Your not going to have any negative impact from it. Theyre getting you for unnesessary fees and its not really worth it.

Re: Should I app for 2nd Barclays card?

Anonymous — Sat, 07 Apr 2012 19:09:49 GMT

I'd clean things up, give it some time, and research which banks had a good product for someone in whatever position you're in once the dust settles.

Personally, more than two cards from any lendor makes me nervous. If they have a policy change I can't abide, too much damage would be done once the cards were closed.

Re: Should I app for 2nd Barclays card?

LS2982 — Sat, 07 Apr 2012 19:16:33 GMT

@Drkaje +1

Re: Should I app for 2nd Barclays card?

DVH1980 — Sat, 07 Apr 2012 19:22:17 GMT

Sounds like a plan, just geting "itchy". Ideally I want the Discover More for my next card since I think it will be my best bet. Chase/Amex are out for another 2 years.

Do I axe FP now or wait until just before the next AF hits?

@bichonmom- I saw an old post of yours where Barclays hit you with 2 HP's when you called for a CLI after they initially offfered you the card? They did the same to me 2 days apart when I called in for a CLI after they first issued me my card, did it ever get wiped off you CR?

Re: Should I app for 2nd Barclays card?

Anonymous — Sat, 07 Apr 2012 19:29:44 GMT

You already have 7 cards. Use one of them to buy some cortisone cream, LOL!

Credit repair/rebuilding is a slow process. It's not possible to app oneself to 850.

Re: Should I app for 2nd Barclays card?

DVH1980 — Sat, 07 Apr 2012 19:33:55 GMT

I here ya, I actually dont want a lot of cards, just a few good ones. Hence , my reasons for wanting one more card with a solid limit, enought to cancel out the other 2 orpossibly 3 and that will grow with me. which so far Barclays has proven to do.

Re: Should I app for 2nd Barclays card?

LS2982 — Sat, 07 Apr 2012 21:37:28 GMT

@DVH1980 wrote:
I here ya, I actually dont want a lot of cards, just a few good ones. Hence , my reasons for wanting one more card with a solid limit, enought to cancel out the other 2 orpossibly 3 and that will grow with me. which so far Barclays has proven to do.

Thats the thing, your not going to get high limits apping for more cards. You need to show responsible usage with the current cards and get CLI's and in due time banks will come around to you.

Re: Should I app for 2nd Barclays card?

clocktick — Sat, 07 Apr 2012 22:13:33 GMT

I'd get rid of your FP now. Your Barclays CLI more than makes up for the small limit on your FP and you won't miss the fees either.

Re: Should I app for 2nd Barclays card?

LS2982 — Sat, 07 Apr 2012 22:15:12 GMT

@clocktick wrote:
I'd get rid of your FP now. Your Barclays CLI more than makes up for the small limit on your FP and you won't miss the fees either.