Chase or Barclay?

[Anonymous]

How long should I wait to reapply and which one do I have the best shot with?Chase denied me in May for the collection, Barclay for INQ. Scores EQ 663 TU 684 EX 677 Lots of inq. on Eq, just financed a car with Chase. 6 accounts opened this year 2 Cap 1, Discover, Nordstrom, Neiman Marcus, VS. 1 med. collection closed. I have made some mistakes by applying for too many cards at once in the past. I'm growing the cards I have, but would like to add at least one more to the mix in Dec. By that time will have make 4 car payments with Chase, if that helps. Maybe I should try a co branded version? Any advice would be great...

[GoldSorata]

I would first get an idea of which card(s) Chase and Barclay have that would benefit you and you want. Then can research to get an idea of what type of credit profile is needed. Different cards can have different UW requirements.

[Anonymous]

Chase Freedom or Barclay Rewards. But from what I've been reading I may have too many INQ for either of those. So I'm thinking Amazon or Apple might be a better starting route. It will be aroun d the holidays so either would be useful. 

[Anonymous]

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@Anonymous wrote:

How long should I wait to reapply and which one do I have the best shot with?Chase denied me in May for the collection, Barclay for INQ. Scores EQ 663 TU 684 EX 677 Lots of inq. on Eq, just financed a car with Chase. 6 accounts opened this year 2 Cap 1, Discover, Nordstrom, Neiman Marcus, VS. 1 med. collection closed. I have made some mistakes by applying for too many cards at once in the past. I'm growing the cards I have, but would like to add at least one more to the mix in Dec. By that time will have make 4 car payments with Chase, if that helps. Maybe I should try a co branded version? Any advice would be great...

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Chase's new rule - if you open 5 or more accounts in the past 2 yrs, you wont get a card with them.  Barclay - did you try to recon for Barclay? that might work and you should go for it.

Good luck 

[Anonymous]

Does anyone know if the Chase 5 card open rule goes for the co branded cards, like amazon?

[TRC_WA]

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@Anonymous wrote:

Does anyone know if the Chase 5 card open rule goes for the co branded cards, like amazon?

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Doesn't apply to co branded cards.

If you have collections/lots of INQs be prepared to recon with both...

[Anonymous]

I think is just Chase branded cards, not airline or hotel cards.  I don think Amazon counts but could be wrong.

[Anonymous]

I guess my real question is what is a good time frame to show enough established credit payments to start applying again? That is the one think I really can't figure out? With perfect payment, low utilization, 1 closed  med collection( I can't seem to get to budge!). 

[Anonymous]

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@Anonymous wrote:

I guess my real question is what is a good time frame to show enough established credit payments to start applying again? That is the one think I really can't figure out? With perfect payment, low utilization, 1 closed  med collection( I can't seem to get to budge!). 

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Barclay states that they like to see a minimum of 12 months of history with a major credit card; however, I was able to get approved with only 6 months history with a major credit card (I had about 18 months history with 2 store cards at time of approval). The first time I applied for the NFL card and was denied, they stated it was because of a lack of experience with bankcards. I tried again for the NFL card a year later, and even though I had 2 store cards for a year at that point, they still denied me for a lack of bankcard experience. So I thought maybe I was trying for the wrong card with them, so I app'd for the Rewards card a month later - nope still denied for same reason. I gave up after that, got a Cap1 card, waited 6 months, then tried for the Ring this time - approved.

All that just to say wait until you have at least 6 months experience with a major credit card before app'ing with Barclay. For Chase, if you have more than 5 new accounts you can forget about trying for the Freedom or CSP (you may still have a shot at Slate though) - not sure about the Chase Amazon card. I was denied for that one, and I've heard it's tougher to get, but YMMV.

[Anonymous]

Thanks! That is good advice. My Cap 1 cards will be a year old in Dec. and my Discover will be 10 months.  I'll try Barclay then. But I do WANT Chase Freedom! I have 0 patience!!! That has been the hardest part during my credit building journey!! I read these post and see people with similar score with approvals right and left and I want to try for EVERYTHING.  Oh well, I've read enough to know it's a marathon, not a sprint. BLAHHH!