topic Re: Pre-selected for Barclay card in Credit Cards

Pre-selected for Barclay card

livingfree — Sun, 20 May 2012 01:32:04 GMT

I received a letter today saying that I am pre-selected for a Barclaycard Rewards Mastercard. Can anyone tell me what that means? I thought that it should say pre-approved if they want me to apply formally for the card. Thanks in advance.

Re: Pre-selected for Barclay card

bichonmom — Sun, 20 May 2012 02:28:02 GMT

I'm pretty sure pre-selected and pre-approved are about the same thing. Neither guarantees approval. It means you have met some minimal marketing criteria that they receive from the CRAs. It may mean you have a better chance than someone who didn't meet that minimal criteria, but definitely doesn't guaranttee anything.

The good thing about Barclay's is that you can recon, and they generally are pretty good with that.

What's your CR and FICO? Barclay's almost always pulls TU.

I was around 670+ with a clean CR and only 1 CR that was 2 mos from aging off when I was approved for the Apple card. I reconed the CL up to $2200. I'm not sure if all of their CCs have the same criteria, but that will give you some idea.

Re: Pre-selected for Barclay card

livingfree — Sun, 20 May 2012 02:51:41 GMT

My TU score is 660 but I have about 5 inquiries due to moving. They are all from the apartment and utiilities. ( I moved in December 2011.) I have read so much about Barclay disliking sesveral inquiries. I just don't want to waste an inquiry if I am not going to get approved. I have only one credit card and that is with Cap 1 for $500. I did not bother to apply for other credit because I have a car loan which is reporting. Thanks

Re: Pre-selected for Barclay card

Anonymous — Sun, 20 May 2012 02:55:30 GMT

You can read lots about pre-approved vs pre-selected on this board. Just remember, pre-selected does not normally mean much and from what I have read very often does not translate into approval. With the inqs and the score and other factors you mention I would not hold out very high hopes for an approval.

Re: Pre-selected for Barclay card

afbar1114 — Sun, 20 May 2012 03:00:38 GMT

Try and if not do a recon and explain what the inqs are for. Most likly because they are all not for credit you can get an approval on recon

Re: Pre-selected for Barclay card

bichonmom — Sun, 20 May 2012 03:23:18 GMT

You can probably explain the inq on recon, if necessary. How long have you had your Cap One? They want to see some history -- probably at least 6 mos. A year is better.

I'd say you have a good shot at it. They tend to give people a chance. Be prepared to recon if denied. And don't plan on apping for any new cards for at least 6 mos. Also, you should have low util. Since you only have one CC, be sure the reported balance is under 10% if possible. They could deny you if your one card has high util.

Re: Pre-selected for Barclay card

Anonymous — Sun, 20 May 2012 03:35:35 GMT

I thought this was a world MC and everything I can find on this card suggests excellent credit is really needed. I think it is a higher risk than some other cards. I know others are saying go for it but I just don't see the chances being very high.

Re: Pre-selected for Barclay card

bichonmom — Sun, 20 May 2012 03:43:01 GMT

@Anonymous wrote:
I thought this was a world MC and everything I can find on this card suggests excellent credit is really needed. I think it is a higher risk than some other cards. I know others are saying go for it but I just don't see the chances being very high.

You're right. I hadn't noticed that before. I got their Apple card in November, which may be easier to qualify for.

Re: Pre-selected for Barclay card

livingfree — Sun, 27 May 2012 03:53:00 GMT

I just wanted to let you guys know that I went for it. I was instantly approved for $1300. I'm going to wait 6 months and try for a cli. Thanks for your responses, receiving this card was a serious surprise.

Re: Pre-selected for Barclay card

2NE1 — Sun, 27 May 2012 04:41:12 GMT

Congrats!

Re: Pre-selected for Barclay card

Anonymous — Sun, 27 May 2012 06:36:28 GMT

congrats