Barclays SUCKS

[vpae]

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@Anonymous wrote:

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@Anonymous wrote:

I did not have a credit card for 13 years.  I kept seeing CreditKarma commercials.  I decided to join and saw my credit score was excellent.  CreditKarma recommended a Barclay's Rewards Mastercard.  I bit on the offer and took a hard pull and lost 40 points on my credit score.  I have since made most of it up.  I wish I had learned of the Comenity soft pulls trick before I took the Barclay advice from CreditKarma.  Since that day in July 2014, I have been approved for Sportsman's Guide Visa, Total Rewards Visa, Camping World/Good Sam Club Visa, Fuel Rewards Mastercard and J. Crew (5 new Comenity cards).  I did receive another 2 point FICO score reduction for 4 new accounts but made those points up the next month.  So far no AA from Barclay's.  I will definitely be in the garden for a year.

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40 points lost for apping for one card????????? *thud* never heard of this at all..most i have seen on my own is 10 although i apped for a few cards recently and my score rose 4 points on barclays fico.

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Sounds like it was CK FAKO pts. They're like whose line is it anyway points, they don't really matter.

[Anonymous]

You know what?  I think you are right.  My lowest limit on 6 cards is the Barclays, my first card.  I went up to a 40% utilization score and got the hit to my score.  I didn't know the 10% utilization thing before reading this site.  Made it back up though.  Got my facts wrong but still no AA from Barclays. 

[Anonymous]

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@vpae wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I did not have a credit card for 13 years.  I kept seeing CreditKarma commercials.  I decided to join and saw my credit score was excellent.  CreditKarma recommended a Barclay's Rewards Mastercard.  I bit on the offer and took a hard pull and lost 40 points on my credit score.  I have since made most of it up.  I wish I had learned of the Comenity soft pulls trick before I took the Barclay advice from CreditKarma.  Since that day in July 2014, I have been approved for Sportsman's Guide Visa, Total Rewards Visa, Camping World/Good Sam Club Visa, Fuel Rewards Mastercard and J. Crew (5 new Comenity cards).  I did receive another 2 point FICO score reduction for 4 new accounts but made those points up the next month.  So far no AA from Barclay's.  I will definitely be in the garden for a year.

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40 points lost for apping for one card????????? *thud* never heard of this at all..most i have seen on my own is 10 although i apped for a few cards recently and my score rose 4 points on barclays fico.

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Sounds like it was CK FAKO pts. They're like whose line is it anyway points, they don't really matter.

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I was starting to think the same thing the more time I spend on here and because of the fact that after I apped for barclays my CK score dropped to 612 but my barclays score jumped to 644 and I got a letter from an app that confirmed that the correct score was 644. Maybe they take an average though because my ex is 617. I use them mostly to see whats reported when and because the list of cards I have is accurate there. other than that **bleep**eddaaboutit

[Anonymous]

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@Florida1990 wrote:

Wow I would be very angry. Do not worry where one door closes another one opens.

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ahh I just requested 3x CLI accross my cards with chase, only had them 3 months.. hope I don't have to experience anything like this

I'm going on a 2 year hiatus after this

[Anomalous]

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@vpae wrote:

Figure I'd chime in my experince thus far for those reading about Barclay.

I had 6 new accounts in Aug 2013. I added my Barclay Rewards MC in March 2014 along with 4 other cards as a part of 1 app spree. Carried a balance on the Barclay of over 50% util, along with carrying a balance on 3-4 other cards. I've made just a little over minimum payments because it's 0% for 24 months. I added an account in June 2014. Added an auto loan in July. Added 5 more accounts in Aug. Started paying Barclay down a little bit along with the other cards and just added 1 more account 4 days ago. So far no AA or anything yet. Still have a balance on it but it's down less than 10% util. 12 accounts but in an 8 month period, not 4.

So.. is Barclay SP CLI? lol

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Yes. I got one from a credit analyst after only having my card less than 45 days. I didn't even ask for it. I was calling to upgrade me Apple Visa to the new one. He told me I was eligible for one (mind you a small one of $200), but I took it! I've also opened new accounts since getting that card prior to the call, so this AA thing with them is definitely a YMMV situation.

[Anonymous]

I'm on my 4th statement with $1300 CL for my rewards card, and I've also opened a lot of cards during my rebuilding stages.  I'm like you in that essence but what I think, in my opinion, is that by asking for the CL so early in the game (4 months?) is what spooked them.  I'm waiting to hit my 6 statement and then I'm pretty much in the clear.  I worry but I worry about a lot of things, lol.

[Anonymous]

You're not the only one who has written off Barclays!  I'm rebuilding but my scores are decent.  I just got a BOA rewards card with a $3000 cl, but Barclays denied me for their crappy NFL card.  That was the second and final time they denied me.  I have 2 Cap One cards, Discover, BOA, Walmart, Target....  Utilization is under 10% and I rarely carry a balance on any of them.  When my scores are over 800 in a year or so and Barclays is sending me preapproved offers, I'm going to send them a little note to let them know what they can do with their card.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Thanks for the reply Red.   I have maybe 12 new credit lines they didn't like although NONE of them have a balance.    Barclays are very arrogant or sensitive.   I have no clue.

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holy cannoli! 12 new credit lines in 4 months? are you trying to catch up with creditaddict?

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-LOL...i have 20 new accounts in 2 months with a new auto loan. i took a 80 point hit at 620 now. Not sure what happened to me. i got an itch i couldnt scratch LOL. sorry to highjack the thread.

[Anonymous]

Its the nature of the beast.. The Barclays can give.. and Barclays can take.. I don't have a Barclay card for the specific reason is that they are an odd bunch of creditors and I have seen them close accounts for a lot of bogus reasons. I get some of them.. I've seen some get up in arms because Barclays closed their card because they thought the borrower simply had "too much available credit"...This is because Barclays budgets a certain amount of credit per quarter that they want to extend.. When they extend credit  to borrowers who just let it sit, the lender loses out on another borrower who will/needs it.. So, Although i do think Barclays spooks entirely too easy, they also do things responsibly

[Anonymous]

I received the letter from Barclays about the closed account.   The reasons were too many new accounts and inquries.      Like I said earlier,   this most likely would not of happened if I had not requested a CLI on my own.   I believe firmly this triggered the process.    I paid the account in full the day it was closed. 

Someone said in an earlier post then when one door closes another opens.   Well this happened indeed.   I finally joined NFCU and was approved for the cash rewards card with double the credit line the Barcalys card was at.   I wish I would of phoned them sooner to join to know I qualified for membership.   I felt I was ineligible to join according to their website since I did not retire from the Air Force and only separated honorably.     

The only other item I am going to apply for is their Line of Credit once my checking account is opened there.   From other posts it seems they should use the same hard pull from the credit card application.   After this,   I am not apping for anything for at least a year.

Thank you again everyone for your suggestions, insight and support.