topic Re: How to recon "Too many new accs" for Barclays CC? in Credit Cards

How to recon "Too many new accs" for Barclays CC?

zerobacan — Mon, 06 May 2013 21:17:44 GMT

Hi guys

I just applied for the Barclays Travelocity Amex card and called today to know the status of it.

the lady said I was fine in everything, but, I had too many new accounts open the last YEAR!!! 9 she said.

I tried to make my case but she did not bite it!

any help so I can call again and hope to get a different csr?

Thanks!!!

Re: How to recon "Too many new accs" for Barclays CC?

LS2982 — Mon, 06 May 2013 21:18:57 GMT

@zerobacan wrote:
Hi guys

I just applied for the Barclays Travelocity Amex card and called today to know the status of it.

the lady said I was fine in everything, but, I had too many new accounts open the last YEAR!!! 9 she said.

I tried to make my case but she did not bite it!

any help so I can call again and hope to get a different csr?

Thanks!!!

Do you have good explanations for these accounts??? I would crack at it one more time then let it go. Good luck!!!

Re: How to recon "Too many new accs" for Barclays CC?

Anonymous — Mon, 06 May 2013 21:22:59 GMT

You could always try explaining why you opened so many, such as for rewards etc.

What is your utilization? If you are close to 0% util, you can also further explain that you opened so many purely for rewards, not for stacking your utilization ratio and u been making it a point to owe almost no debt. Usually a big plus

Re: How to recon "Too many new accs" for Barclays CC?

zerobacan — Mon, 06 May 2013 21:24:16 GMT

my explanation was "im trigger happy app addict"

For real I said "I recently learned that saying yes to every csr asking me to open this and that card to get a % off my buy is not healthy"

any thing better or something that has work for you guys?

Re: How to recon "Too many new accs" for Barclays CC?

LS2982 — Mon, 06 May 2013 21:25:49 GMT

@zerobacan wrote:
my explanation was "im trigger happy app addict"

For real I said "I recently learned that saying yes to every csr asking me to open this and that card to get a % off my buy is not healthy"

any thing better or something that has work for you guys?

That was probably the wrong thing to say

I would go with the rewards angle if your util is low.

Re: How to recon "Too many new accs" for Barclays CC?

Anonymous — Mon, 06 May 2013 21:27:22 GMT

The most important thing you need to convince recon is that you are not pyramiding debt or stacking CL to mask your debt to income ratio. They just want to make sure you can pay your debt back on time without any issues. Having a 0% or close to 0% util ratio is usually a very good explanation for this. If not just try to think of reasons where you can convince them you have no problems paying your debt back

Re: How to recon "Too many new accs" for Barclays CC?

Ron1 — Mon, 06 May 2013 21:35:46 GMT

@zerobacan wrote:
my explanation was "im trigger happy app addict"

For real I said "I recently learned that saying yes to every csr asking me to open this and that card to get a % off my buy is not healthy"

any thing better or something that has work for you guys?

They told me there were too many recently account opened. I told them I was looking for rewards card to replace my current no rewards cards. They accepted my explaination and gave me approval for the card.

Ron.

Re: How to recon "Too many new accs" for Barclays CC?

zerobacan — Mon, 06 May 2013 21:36:58 GMT

My uti is about 20% she noted that when i first app for barclays on jan, i had a 80% uti. Then she asked me why i had 9 new acc and my answer wad lame...

I think if i take a look at my report and see what r these 9 acc i can explain them better i think i refid my car twice in the lasy year thats 2 acc and i got a couple of store cards... Keep the advise coming ill call later today better inform now

Re: How to recon "Too many new accs" for Barclays CC?

zerobacan — Mon, 06 May 2013 21:39:36 GMT

Ron that is a.good one!

Re: How to recon "Too many new accs" for Barclays CC?

FinStar — Mon, 06 May 2013 21:41:28 GMT

@zerobacan wrote:
My uti is about 20% she noted that when i first app for barclays on jan, i had a 80% uti. Then she asked me why i had 9 new acc and my answer wad lame...

I think if i take a look at my report and see what r these 9 acc i can explain them better i think i refid my car twice in the lasy year thats 2 acc and i got a couple of store cards... Keep the advise coming ill call later today better inform now

I'd say this is going to be very borderline. Creditors do not fancy that many new accounts open in such a short period of time, even if your best explanation is "better rewards". Of course, everyone's experience does/will vary ... good luck.

Re: How to recon "Too many new accs" for Barclays CC?

LS2982 — Mon, 06 May 2013 21:44:07 GMT

@FinStar wrote:
@zerobacan wrote:
My uti is about 20% she noted that when i first app for barclays on jan, i had a 80% uti. Then she asked me why i had 9 new acc and my answer wad lame...

I think if i take a look at my report and see what r these 9 acc i can explain them better i think i refid my car twice in the lasy year thats 2 acc and i got a couple of store cards... Keep the advise coming ill call later today better inform now
I'd say this is going to be very borderline. Creditors do not fancy that many new accounts open in such a short period of time, even if your best explanation is "better rewards". Of course, everyone's experience does/will vary ... good luck.

I agree.

They even have you pinned with the 80% util last app you did. Probably best you concede defeat and garden for a good bit (1 year).

Re: How to recon "Too many new accs" for Barclays CC?

Ron1 — Mon, 06 May 2013 21:48:07 GMT

@zerobacan wrote:
Ron that is a.good one!

Try it. It works. They approved $5K for Barclays Rewards MC last Sept.

Ron.

Re: How to recon "Too many new accs" for Barclays CC?

Anonymous — Mon, 06 May 2013 22:16:47 GMT

i'm also going to give it one more shot later this week. THey wanted to know about the accounts since beginning of 2012...even the ones over 12 months(4 of them). the ones under a year(3) were 9 and 5 months old.

Re: How to recon "Too many new accs" for Barclays CC?

zerobacan — Mon, 06 May 2013 22:22:13 GMT

@Anonymous wrote:
i'm also going to give it one more shot later this week. THey wanted to know about the accounts since beginning of 2012...even the ones over 12 months(4 of them). the ones under a year(3) were 9 and 5 months old.

They are super hiper picky with new acc prior to, and i believe that after you get the cc they will also ask you. I'm even think of never apping for them even if I get approve. The csr hours are horrible for me here in the west coast, at 2pm they are all gone.

Re: How to recon "Too many new accs" for Barclays CC?

Anonymous — Mon, 06 May 2013 22:41:59 GMT

I disliked Barclays a lot and I honestly applied only because they pull TU and I had 0 inquiries on my TU.
I disliked them as well even after I got approved and wanted to close my account. After some time with it, they are much better than I expected and I'm liking it more gradually

Re: How to recon "Too many new accs" for Barclays CC?

youngandcreditwrthy — Tue, 07 May 2013 02:39:54 GMT

Barclay's is weird.
I'll have to recon my Arrival app in a few weeks. Or prob even xfer some cl of my Trav Amex over.

Idk though...
I had opened 3-4 new accounts within three months of getting approved for a 6500 Trav Amex on recon.
While Barclay's is new acct/inq sensitive, once more it's a ymmv situation dependent on how accomodating the Analyst is or isn't.
The snotty young professionals usually are more hassling than the seasoned, wiser folks I find.
Anywho, good luck! Remember to remind them : no approval=
No business for them;-)

Re: How to recon "Too many new accs" for Barclays CC?

beb86 — Tue, 07 May 2013 04:15:20 GMT

If by chance you are able to get a recon what ever you do DONT open anymore accounts...it will be a death blow to your barclays..

Re: How to recon "Too many new accs" for Barclays CC?

indiolatino61 — Tue, 07 May 2013 06:46:34 GMT

@zerobacan wrote:
Hi guys

I just applied for the Barclays Travelocity Amex card and called today to know the status of it.

the lady said I was fine in everything, but, I had too many new accounts open the last YEAR!!! 9 she said.

I tried to make my case but she did not bite it!

any help so I can call again and hope to get a different csr?

Thanks!!!

If the accounts are for stores, rewards usage would be an explanation. Other explanations could be balance transfers, miles rewards because you will be traveling soon...any reason that expalins that opening the card gave you better benefits. Good luck.