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Regretting Barclay Ring approval...

Jerry45
Valued Contributor

Re: Regretting Barclay Ring approval...


@sanglee24 wrote:

 I'm beginning to have buyers remorse as I just applied for the Ring card and was approved for $10,000.  I felt like I wasted an inquiry as I have other cards that offer much better rewards.  Does anyone know if I can use the 0% balance transfer next year sometime?  I don't need to transfer anything now as I have 0% on another card for the next 18 months.  Darn, the rewards just stink on this card.  Do they at least offer periodic 0% balance transfers?  Thanks guys.


It is a top tier card with a nice CL, and no annual fee. All good

Message 11 of 16
Djgrolyos
Valued Contributor

Re: Regretting Barclay Ring approval...

How can that be a low rate card? I just got the Apple card at 14.99%. That’s lower than OPs and the Apple is not even a low rate card that I know of. I agree with @dino on that.

Either way-Congrats OP?? Or..... Sorry as @AJC said.

Remember cards report and count towards age the same if open or closed. If you don’t want it-close it. It’s odd and they may think you are strange to do so but tell them you needed a much higher SL or something. Or keep the card... 10k will help with utilization since you said you are carrying a balance on a 0% Card.

The one good thing on Barclays is they let you PC and Reallocate. DH has had the Apple Card for 3 years. Never uses it. Gets CLI every 6 mo of usually $2500-$3000 each time. Now sitting at $17945. Weird limit but that’s how it goes. So some people Barclays ends up being a good Card. I closed my first one back when they CLD me for too many INQs during an AR.... but just opened another today after I swore them off. So I’m giving them one more chance.

Either way... instant approvals are nice and the SL you got it very nice... so enjoy that part at least. Smiley Happy
FICO 09 TU= 787 (Aug) EQ= 774 (Aug) EX= 801 (Aug) Favorites: Citi DC, AMEX Gold and U.S. Bank Cash+
Message 12 of 16
donny10
Senior Contributor

Re: Regretting Barclay Ring approval...


@sanglee24 wrote:

 I'm beginning to have buyers remorse as I just applied for the Ring card and was approved for $10,000.  I felt like I wasted an inquiry as I have other cards that offer much better rewards.  Does anyone know if I can use the 0% balance transfer next year sometime?  I don't need to transfer anything now as I have 0% on another card for the next 18 months.  Darn, the rewards just stink on this card.  Do they at least offer periodic 0% balance transfers?  Thanks guys.


Don't apply for anything else. No new inquiries or new accounts, they get very jealous when you start cheating on them. They are known to give people who cheat a really impressive CLD.

 

Moreover, if the wind blows in the wrong direction they have been known to CLD  you as well. Some card holders have reported a CLD for simply sneezing to loud.

 

I had the Ring at 8%, I felt like cheating, so I broke up with them before they dumped me.

Message 13 of 16
Cal1994
New Contributor

Re: Regretting Barclay Ring approval...

Thanks for the advice but I truly dont care if they take adverse action on a cc that I will never use (other than 0% bt offers).  If I would have known that they reduce limits all the time, I would have never applied for this card.  It's my fault as I should have done more research.  Thanks again Donny.

Message 14 of 16
Cal1994
New Contributor

Re: Regretting Barclay Ring approval...

And believe me, I will cheat on them constantly!  LOL, love the analogy!

Message 15 of 16
donny10
Senior Contributor

Re: Regretting Barclay Ring approval...


@sanglee24 wrote:

Thanks for the advice but I truly dont care if they take adverse action on a cc that I will never use (other than 0% bt offers).  If I would have known that they reduce limits all the time, I would have never applied for this card.  It's my fault as I should have done more research.  Thanks again Donny.


Hey, anytime. Just keep an eye on the account if you do a BT and then start cheating(lol). They have been known to do a CLD down to what you owe. Then the account as you know will show 100% utilization. 

Message 16 of 16
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