topic Re: Do you think Barclay would approve me? in Credit Cards

Do you think Barclay would approve me?

Anonymous — Sun, 09 Mar 2014 03:39:38 GMT

Barclay declined me about 4 months ago for not having enough established credit, I'm not sure if they're approve me now, but I figured I may try mid march or begining of may... Before I do I want your opinion.

Last time I checked my scores (fico) they were as followed: 627 tu, 598 ex, 650 eq. i believe they have all gone up since...

AAoA (creditkarma) 2.5 mo.

Oldest Acct: 11mo

Util: around 16% but my reports dont reflect the payments I made a few days ago.

No late payments.

8 total accounts

No baddies.

Thoughts? Should I wait for my AAoA to go up a little more, or do I have a shot at one of their cards?

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 03:40:40 GMT

Which card were you looking at?

Re: Do you think Barclay would approve me?

Jlu — Sun, 09 Mar 2014 03:42:28 GMT

I remember Barclays wanting to see a minimum of 12 months payment history with another lender before approving me for anything. Of course they are the recon kings.. so YMMV. They'll pull TU which in the mid-600's should be good enough. Actually you never told us what card..? If it's the Ring hold off.. if it's a Barclaycard go for it.

Re: Do you think Barclay would approve me?

Anonymous — Sun, 09 Mar 2014 03:43:12 GMT

@grinlikechelsea wrote:
Which card were you looking at?

I was thinking the Rewards MC.

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 04:05:47 GMT

Great choice. It's actually a pretty awesome card.

You'd have a shot at the Rewards for Average Credit (don't carry a balance on it; high APR). I would wait until your oldest account reaches 12 months before you apply though.

Re: Do you think Barclay would approve me?

Anonymous — Sun, 09 Mar 2014 04:07:05 GMT

@grinlikechelsea wrote:
Great choice. It's actually a pretty awesome card.

You'd have a shot at the Rewards for Average Credit (don't carry a balance on it; high APR). I would wait until your oldest account reaches 12 months before you apply though.

My oldest account is my car lease. I know they don't really count that.. so should I wait for my oldest CC to hit 12 mo?

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 04:10:31 GMT

I would. Do everything you can to make sure your TU report is as pristine as possible because Barclays exclusively pulls TU. Just a heads up.

Re: Do you think Barclay would approve me?

Anonymous — Sun, 09 Mar 2014 04:12:50 GMT

Thanks! I'm trying to keep it flawless, I wish I could get it now!

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 04:16:07 GMT

@Anonymous wrote:
Thanks! I'm trying to keep it flawless, I wish I could get it now!

I know the wait is hard, but if you wait, you have a better chance not only at an approval, but a higher credit limit and better terms (if the APR is variable). With credit, it pays to wait every now and again.

Re: Do you think Barclay would approve me?

sailor_mercury — Sun, 09 Mar 2014 04:17:30 GMT

I'm not exactly sure what their qualifications are for each product but Barclay's can be one of the more difficult ones to obtain. I think you would be wasting a hard pull. If you're interested I would wait until your accounts age and until you only have a couple of inqs.

I applied for the Sallie Mae card and got my rejection letter today. Most of my accounts are more recent and I have some inquries.

I apped with:

AAoA 4.5 years

Util 17%

Baddies: 5 paid state tax liens from 2007/2008

TU FICO 715

Reasons:

High Number of Inqs

High number of credit cards recently opened

Insufficient number of accounts

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 04:21:41 GMT

@sailor_mercury wrote:
I'm not exactly sure what their qualifications are for each product but Barclay's can be one of the more difficult ones to obtain. I think you would be wasting a hard pull. If you're interested I would wait until your accounts age and until you only have a couple of inqs.

I applied for the Sallie Mae card and got my rejection letter today. Most of my accounts are more recent and I have some inquries.

I apped with:
AAoA 4.5 years
Util 17%
Baddies: 5 paid state tax liens from 2007/2008

TU FICO 715
Reasons:
High Number of Inqs
High number of credit cards recently opened
Insufficient number of accounts

Sorry about the decline.

The qualifications for the Average Credit Rewards MC seem to be a bit easier than say, the Sallie Mae or the Arrival. I think he has a pretty good chance once his accounts age sufficiently. As for their other products, I don't know their difficulty.

Re: Do you think Barclay would approve me?

Anonymous — Sun, 09 Mar 2014 04:31:35 GMT

@grinlikechelsea wrote:
@sailor_mercury wrote:
I'm not exactly sure what their qualifications are for each product but Barclay's can be one of the more difficult ones to obtain. I think you would be wasting a hard pull. If you're interested I would wait until your accounts age and until you only have a couple of inqs.

I applied for the Sallie Mae card and got my rejection letter today. Most of my accounts are more recent and I have some inquries.

I apped with:
AAoA 4.5 years
Util 17%
Baddies: 5 paid state tax liens from 2007/2008

TU FICO 715
Reasons:
High Number of Inqs
High number of credit cards recently opened
Insufficient number of accounts
Sorry about the decline.

The qualifications for the Average Credit Rewards MC seem to be a bit easier than say, the Sallie Mae or the Arrival. I think he has a pretty good chance once his accounts age sufficiently. As for their other products, I don't know their difficulty.

Should I wait about the same for the Barclay Apple retail card, as well?

Re: Do you think Barclay would approve me?

sailor_mercury — Sun, 09 Mar 2014 04:32:57 GMT

@grinlikechelsea wrote:
@sailor_mercury wrote:
I'm not exactly sure what their qualifications are for each product but Barclay's can be one of the more difficult ones to obtain. I think you would be wasting a hard pull. If you're interested I would wait until your accounts age and until you only have a couple of inqs.

I applied for the Sallie Mae card and got my rejection letter today. Most of my accounts are more recent and I have some inquries.

I apped with:
AAoA 4.5 years
Util 17%
Baddies: 5 paid state tax liens from 2007/2008

TU FICO 715
Reasons:
High Number of Inqs
High number of credit cards recently opened
Insufficient number of accounts
Sorry about the decline.

The qualifications for the Average Credit Rewards MC seem to be a bit easier than say, the Sallie Mae or the Arrival. I think he has a pretty good chance once his accounts age sufficiently. As for their other products, I don't know their difficulty.

I agree. Once the accounts are 1 year old and inquries have aged off your chances are MUCH better.

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 04:35:59 GMT

Yes, you should wait for your accounts to age more. I wouldn't app for both the Apple Visa and the Rewards MC; instead, I'd pick one for right now and have that as your goal. Then, wait until you feel confident in applying.

Re: Do you think Barclay would approve me?

Anonymous — Sun, 09 Mar 2014 04:37:05 GMT

@grinlikechelsea wrote:
Yes, you should wait for your accounts to age more. I wouldn't app for both the Apple Visa and the Rewards MC; instead, I'd pick one for right now and have that as your goal. Then, wait until you feel confident in applying.

That's what I will do then!

Re: Do you think Barclay would approve me?

Rhaeny — Sun, 09 Mar 2014 04:41:03 GMT

@Anonymous wrote:
@grinlikechelsea wrote:
Yes, you should wait for your accounts to age more. I wouldn't app for both the Apple Visa and the Rewards MC; instead, I'd pick one for right now and have that as your goal. Then, wait until you feel confident in applying.
That's what I will do then!

I think the Apple Visa is easier to get than the rewards. Plus if you get it you can PC later to the rewards. I did it last year.

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 04:42:16 GMT

@Rhaeny wrote:
@Anonymous wrote:
@grinlikechelsea wrote:
Yes, you should wait for your accounts to age more. I wouldn't app for both the Apple Visa and the Rewards MC; instead, I'd pick one for right now and have that as your goal. Then, wait until you feel confident in applying.
That's what I will do then!
I think the Apple Visa is easier to get than the rewards. Plus if you get it you can PC later to the rewards. I did it last year.

I was not aware you could do that. How easy was it for you to PC?

Re: Do you think Barclay would approve me?

Rhaeny — Sun, 09 Mar 2014 04:49:04 GMT

@grinlikechelsea wrote:
@Rhaeny wrote:
@Anonymous wrote:
@grinlikechelsea wrote:
Yes, you should wait for your accounts to age more. I wouldn't app for both the Apple Visa and the Rewards MC; instead, I'd pick one for right now and have that as your goal. Then, wait until you feel confident in applying.
That's what I will do then!
I think the Apple Visa is easier to get than the rewards. Plus if you get it you can PC later to the rewards. I did it last year.
I was not aware you could do that. How easy was it for you to PC?

I just called in and asked them about it and they did it immediately. I wasn't on the phone more than 10 minutes with them.

Now I do know that there are some cards you can't do a PC with, but definitely you can with Apple to the Rewards.

Re: Do you think Barclay would approve me?

grinlikechelsea — Sun, 09 Mar 2014 04:52:58 GMT

@Rhaeny wrote:
@grinlikechelsea wrote:
@Rhaeny wrote:
@Anonymous wrote:
@grinlikechelsea wrote:
Yes, you should wait for your accounts to age more. I wouldn't app for both the Apple Visa and the Rewards MC; instead, I'd pick one for right now and have that as your goal. Then, wait until you feel confident in applying.
That's what I will do then!
I think the Apple Visa is easier to get than the rewards. Plus if you get it you can PC later to the rewards. I did it last year.
I was not aware you could do that. How easy was it for you to PC?
I just called in and asked them about it and they did it immediately. I wasn't on the phone more than 10 minutes with them.

Now I do know that there are some cards you can't do a PC with, but definitely you can with Apple to the Rewards.

Thanks for the clarification! It is nice the OP has options to on how to get the MC.

Re: Do you think Barclay would approve me?

Anonymous — Sun, 09 Mar 2014 05:05:43 GMT

@Rhaeny wrote:
@grinlikechelsea wrote:
@Rhaeny wrote:
@Anonymous wrote:
@grinlikechelsea wrote:
Yes, you should wait for your accounts to age more. I wouldn't app for both the Apple Visa and the Rewards MC; instead, I'd pick one for right now and have that as your goal. Then, wait until you feel confident in applying.
That's what I will do then!
I think the Apple Visa is easier to get than the rewards. Plus if you get it you can PC later to the rewards. I did it last year.
I was not aware you could do that. How easy was it for you to PC?
I just called in and asked them about it and they did it immediately. I wasn't on the phone more than 10 minutes with them.

Now I do know that there are some cards you can't do a PC with, but definitely you can with Apple to the Rewards.

That's a good thing to know!