So my plan was to garden through all of 2019. Then there was the $700 carrot that Barclaycard is waving with this card, the fact that my scores are in the 800s now, and I really couldn’t come up with a good reason to actually be gardening if it meant passing up big signup bonuses. Well, today I may have received a reason.
To put this into perpective, the only card I can previously recall being denied for in at least a decade was the Capital One Venture in February 2017. CapOne for some reason has never liked me, and before closing my final card with them I had been a customer for over 20 years and never got a single CLI. My reports have always been flawless other than utilization.
We know that Barclaycard can be jealous when you open new accounts after opening one of theirs, and they can often do AA for what seems like very puzzling reasons. Others have no issues at all with them. Now it appears they may be jealous of existing new accounts as well.
It’s embarrassing but I thought I would share this for data point. Income decently into the 200s, flawless reports, utilization in the single digits, AoOA 25 years, AAoA over 8 years, and they pulled a TransUnion score of 816. Denied for too many new accounts in the past 24 months. Called recon line and plead my case. Put me on hold. Came back still denied due to “10 new accounts in 24 months.” Tried further with explaining why the card was a good fit for me, why I have that many accounts in the past two years, the fact that I have only opened 3 in the past 12 months (SkyMiles Platinum Business would make 4, but hidden)... yeah, still denied.
I went in knowing that it would likely be a doomed relationship since I can admit that I am a bonus chaser and except for Chase and Amex, I am likely an unprofitable customer. But that $700... <sigh> Anyway, just thought I would share. So if you have a fairly heavy number of new accounts, they can and will deny otherwise extremely qualified applicants.
K, nothing to be embarrassed about, you took a shoot for $700 and the new amount of new in the past 24 is something all CCC seem to follow now.
Barclay is a though nut to crack on new accounts.
Barclay can be a cruel, jealous, and vengeful mistress. I had good luck getting approved with limited\questionable history, but couldn't get a CLI out of them so they went in the round file. Outside of the bonus, the card does nothing.
This does serve as a good reason to stay in the garden unless you need to leave
Sadly, your excellent score was irrelevant because Barclay has a 6/24 rule for this card. Unfortunately it's a wasted application, but $700 is always worth a try!
The new krypton is a x/24 factor.
Who ever knew it would come to this.