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Barclaycard Ring Approval Stats

Re: Barclaycard Ring Approval Stats

Don't know about approval because I'm still "hanging".  Applied yesterday.  Site still says "we're thinking about it".

 

TU CS: 710

Inquiries: 1

Income: $350K/year.

AAoA: 6 years

Highest limit: $14.4K

 

They seem pretty picky...  Wondering how long this takes.

FICO: 814 EQ / 799 TU / 804 EXP
utilization: 4%, total lines: $134K
Message 11 of 32
JustMe3
Valued Contributor

Re: Barclaycard Ring Approval Stats


@southern_sandman wrote:

Don't know about approval because I'm still "hanging".  Applied yesterday.  Site still says "we're thinking about it".

 

TU CS: 710

Inquiries: 1

Income: $350K/year.

AAoA: 6 years

Highest limit: $14.4K

 

They seem pretty picky...  Wondering how long this takes.


With your stats you shouldn't have any problems being approved. Is that TU score a true FICO score? What other cards do you have? Do you have any baddies? Maybe your high income threw them off so they have to review it manually? I don't know.

Message 12 of 32

Re: Barclaycard Ring Approval Stats

That's my TU number from creditkarma and I double-checked it by opening an account on lending tree and the number I got there was the same (710).

 

My cc utilization at 19% isn't terrible, but maybe they can't reconcile the fact I run a balance with my income.  The one balance I do keep was a balance transfer I'm in no hurry to pay off (0% through next August!).  Everything else (at least as of today) is paid off, so my true utilization will be down around 10 or 11% once this updates. One goal I've had is reducing that number by both reducing the numerator and increasing the denominator.  My app to barclay ring was part of the latter!  My payment record is 100%.  No lates.  No BK.  No charge-offs.  No nothing.

 

In any case, it's going on day #2 now and no answer.  For that matter, no contact (e.g., asking me to verify income or whatever).  So who knows what's going on... It's like they went "tilt".  I've heard of some getting a rejection after this message, but it's generally a same-day sort of affair.  I know they did a pull on my TU because creditkarma and lifelock both lit up like christmas trees almost immediately!

FICO: 814 EQ / 799 TU / 804 EXP
utilization: 4%, total lines: $134K
Message 13 of 32
JustMe3
Valued Contributor

Re: Barclaycard Ring Approval Stats


@southern_sandman wrote:

That's my TU number from creditkarma and I double-checked it by opening an account on lending tree and the number I got there was the same (710).

 

My cc utilization at 19% isn't terrible, but maybe they can't reconcile the fact I run a balance with my income.  The one balance I do keep was a balance transfer I'm in no hurry to pay off (0% through next August!).  Everything else (at least as of today) is paid off, so my true utilization will be down around 10 or 11% once this updates. One goal I've had is reducing that number by both reducing the numerator and increasing the denominator.  My app to barclay ring was part of the latter!  My payment record is 100%.  No lates.  No BK.  No charge-offs.  No nothing.

 

In any case, it's going on day #2 now and no answer.  For that matter, no contact (e.g., asking me to verify income or whatever).  So who knows what's going on... It's like they went "tilt".  I've heard of some getting a rejection after this message, but it's generally a same-day sort of affair.  I know they did a pull on my TU because creditkarma and lifelock both lit up like christmas trees almost immediately!


Just for the record, Credit Karma only uses Vantage 3.0 scores - not Fico. It's possible that the Lending Tree also used a Vantage score. You need to know your true Fico scores (you can buy them from here on MyFico). My TU score on Credit Karma is 20 points lower than my actual Fico score, but I've also heard stories that the opposite can also be true (so get your Fico scores).

 

Aside from the scores, maybe you should give Barclay's backdoor number a call and speak to a credit analyst, and just ask if they need anything further from you to process your application. If they say you're denied, simply ask for reconsideration.

Message 14 of 32
humuhumunukunukuapuaa
Senior Contributor

Re: Barclaycard Ring Approval Stats

Number of new accounts in past 12 months is also a factor in the approval of this card. Barclay is not a fan of a lot of new accounts, and looks back at the entire 12 month peiod prior to your application.



Favorite Cards : ~ Citi Double Cash World Elite MasterCard ~
~ American Express Blue Cash Preferred ~ Chase Hyatt Visa Signature ~
~ Citi AAdvantage World Elite MasterCard ~ Citi Prestige ~ Alaska Airlines Visa Signature ~ Discover it Miles ~
Message 15 of 32

Re: Barclaycard Ring Approval Stats

OK.  I chipped in the $20 for a transunion fico score.  And my fico8 score was actually even BETTER (746).  My bankcard score8 was even better (752 --- WOO HOOO!!!!!) Bankcard score9 (newest version) was 736.  My numbers were uniformly better than what I got from creditkarma and lending tree.  Aside from that and being totally confused by 8 or 10 different numbers used for different things, I can't see how my $20 was well-spent.  At least I used paypal taking from my bank account so my utilization ratio didn't go up...

 

But if I was "in" with a 710, I have to think i'd be even MORE "in" with a 736, 746, or 752 right?!

 

But "ring" is still quiet as the sphinx with their website still saying "we're thinking about it...."

FICO: 814 EQ / 799 TU / 804 EXP
utilization: 4%, total lines: $134K
Message 16 of 32
JustMe3
Valued Contributor

Re: Barclaycard Ring Approval Stats


@southern_sandman wrote:

OK.  I chipped in the $20 for a transunion fico score.  And my fico8 score was actually even BETTER (746).  My bankcard score8 was even better (752 --- WOO HOOO!!!!!) Bankcard score9 (newest version) was 736.  My numbers were uniformly better than what I got from creditkarma and lending tree.  Aside from that and being totally confused by 8 or 10 different numbers used for different things, I can't see how my $20 was well-spent.  At least I used paypal taking from my bank account so my utilization ratio didn't go up...

 

But if I was "in" with a 710, I have to think i'd be even MORE "in" with a 736, 746, or 752 right?!


Nice! That is a huge difference in scores. I will say that the 3 Bureau report ($30 a month) here on MyFico is the best deal cause you get all 3 bureau Fico scores, and you can cancel whenever. But hey, you'll know for next time Smiley Wink

 

So the good news is your TU score is very good, so you should just give Barclay's backdoor number a call and see what's going on with your app.

Message 17 of 32
humuhumunukunukuapuaa
Senior Contributor

Re: Barclaycard Ring Approval Stats


@southern_sandman wrote:

OK.  I chipped in the $20 for a transunion fico score.  And my fico8 score was actually even BETTER (746).  My bankcard score8 was even better (752 --- WOO HOOO!!!!!) Bankcard score9 (newest version) was 736.  My numbers were uniformly better than what I got from creditkarma and lending tree.  Aside from that and being totally confused by 8 or 10 different numbers used for different things, I can't see how my $20 was well-spent.  At least I used paypal taking from my bank account so my utilization ratio didn't go up...

 

But if I was "in" with a 710, I have to think i'd be even MORE "in" with a 736, 746, or 752 right?!

 

But "ring" is still quiet as the sphinx with their website still saying "we're thinking about it...."


Remember it is not all about numbers - it is total profile. And Barclay is very big on not liking a lot of new accounts as I'd mentioned above. They also like to see a good bit of prior credit history to be successful in getting this card. Remember that Ring is often reported to be their most difficult card to get.

 

Good luck and hope it works out. I love my Ring Smiley Happy



Favorite Cards : ~ Citi Double Cash World Elite MasterCard ~
~ American Express Blue Cash Preferred ~ Chase Hyatt Visa Signature ~
~ Citi AAdvantage World Elite MasterCard ~ Citi Prestige ~ Alaska Airlines Visa Signature ~ Discover it Miles ~
Message 18 of 32
JustMe3
Valued Contributor

Re: Barclaycard Ring Approval Stats


@humuhumunukunukuapuaa wrote:

Remember it is not all about numbers - it is total profile. And Barclay is very big on not liking a lot of new accounts as I'd mentioned above.


Where are you getting that southern_sandman has a lot of new accounts? Did I miss something?

Message 19 of 32

Re: Barclaycard Ring Approval Stats

A bunch of hard pulls on a credit report will hurt it.  And a bunch of new accounts will as well (by lowering average account age --- which is actually a more important factor).  My credit scores are my scores and my average account age is 6 1/2 years.  That's not really old, but not really new either.

 

I haven't called them yet; I'll probably give it another day.  But I did a search on "backdoor numbers" and tracked that info down.  I'm a bit new here, so didn't know what you were talking about at first.

FICO: 814 EQ / 799 TU / 804 EXP
utilization: 4%, total lines: $134K
Message 20 of 32
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