Barclaycard Uber Visa Platinum to Signature Upgrade Trouble

[longtimelurker]

Well, why I think worrying about whether a card is a sig or not is fairly pointless, clearly a lot of people here do want VS/WEMC (look at past threads) so it's just a matter of degree of how much effort is worthwhile and apparently the OP thinks it's worth an HP and a hit to AAoA.   Which to me is not substantially different than wanting a VS etc in the first place (i.e. misguided and stupid, but each person's call!)

[SBR249]

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@Anonymous wrote:

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I appreciate the input, and while I agree that from a strictly analytical perspective, choosing to reapply, which will cause me to incur a HP, and reduce AAoA, is not the right decision, I'll suffer significant emotional distress from knowing that this card is not a Signature level when it should be.  I have incurred other HP's within the last three months and I don't plan on applying for anything within the next year, so the slight decrease in account age and the HP is not significant in my situation.

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I'm not a psychiatrist or anything but it strikes me that one's finances is not really a wise area in which one should concentrate one's energies and efforts if one tends to suffer emotional distress or attach undue sentimentality to things, particularly in such superficial matters. Maybe I'm just old fashioned, but I've always been advised to set aside emotions and be cold-heartedly rational when it comes to managing my money. Perhaps it would be advisable to find another more harmless way to channel your energies, especially if you are aware that you are making or tend to make decisions that are irrational. But in the end, it is up to you as you will be the one responsible for the decisions you make. 

[Anonymous]

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@SBR249 wrote:

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@Anonymous wrote:

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I appreciate the input, and while I agree that from a strictly analytical perspective, choosing to reapply, which will cause me to incur a HP, and reduce AAoA, is not the right decision, I'll suffer significant emotional distress from knowing that this card is not a Signature level when it should be.  I have incurred other HP's within the last three months and I don't plan on applying for anything within the next year, so the slight decrease in account age and the HP is not significant in my situation.

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I'm not a psychiatrist or anything but it strikes me that one's finances is not really a wise area in which one should concentrate one's energies and efforts if one tends to suffer emotional distress or attach undue sentimentality to things, particularly in such superficial matters. Maybe I'm just old fashioned, but I've always been advised to set aside emotions and be cold-heartedly rational when it comes to managing my money. Perhaps it would be advisable to find another more harmless way to channel your energies, especially if you are aware that you are making or tend to make decisions that are irrational. But in the end, it is up to you as you will be the one responsible for the decisions you make. 

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Thanks for the response.  I'm not attaching "undue sentimentality," I'm just not going to settle for something less than perfect.  The card should be Signature level, and it's not.  I'm fortunate enough to have made smart financial decisions and have a job where I don't currently need credit, nor am I carrying any balances, so my actions over something like this really have no significant impact on my finances.  Additionally, I hold an array of other cards so I'm not solely dependent on this one if something happens.  I've been quite happy with the decisions I've made so far, so I'll keep you all updated on how this turns out.

[kdm31091]

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@Anonymous wrote:

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@SBR249 wrote:

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@Anonymous wrote:

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I appreciate the input, and while I agree that from a strictly analytical perspective, choosing to reapply, which will cause me to incur a HP, and reduce AAoA, is not the right decision, I'll suffer significant emotional distress from knowing that this card is not a Signature level when it should be.  I have incurred other HP's within the last three months and I don't plan on applying for anything within the next year, so the slight decrease in account age and the HP is not significant in my situation.

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I'm not a psychiatrist or anything but it strikes me that one's finances is not really a wise area in which one should concentrate one's energies and efforts if one tends to suffer emotional distress or attach undue sentimentality to things, particularly in such superficial matters. Maybe I'm just old fashioned, but I've always been advised to set aside emotions and be cold-heartedly rational when it comes to managing my money. Perhaps it would be advisable to find another more harmless way to channel your energies, especially if you are aware that you are making or tend to make decisions that are irrational. But in the end, it is up to you as you will be the one responsible for the decisions you make. 

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Thanks for the response.  I'm not attaching "undue sentimentality," I'm just not going to settle for something less than perfect.  The card should be Signature level, and it's not

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I think the point I and others are trying to make is that Signature level means little to nothing and  in 99% of cases it makes no practical difference to your life. How often do you see people posting about using the benefits? Rarely to never. Beyond that, you have another Visa Signature card if there is some benefit you need for a specific purchase (again, very unlikely). Most basic benefits are the same whether you have Signature level or not.

Burning a pull and AAOA ding to reapply and maybe get a Signature card just isn't something most are going to advocate before. Besides, one analyst told you to do it, but Barclay recon is notoriously tough. You cannot rule out the chance that they simply won't approve you for the card so soon after closing it.

[Anonymous]

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Burning a pull and AAOA ding to reapply and maybe get a Signature card just isn't something most are going to advocate before. Besides, one analyst told you to do it, but Barclay recon is notoriously tough. You cannot rule out the chance that they simply won't approve you for the card so soon after closing it.

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I understand that I am the minority here and it doesn't bother me one bit.  Also, I think you misunderstood the way I plan to go about it.  My current account does not close until the new account is opened.  This prevents me from losing the card all together if recon denies me.  I'm happy to take on Barclay's recon department as my credit history is immaculate.  

[SBR249]

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@Anonymous wrote:

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Thanks for the response.  I'm not attaching "undue sentimentality," I'm just not going to settle for something less than perfect.  The card should be Signature level, and it's not.  I'm fortunate enough to have made smart financial decisions and have a job where I don't currently need credit, nor am I carrying any balances, so my actions over something like this really have no significant impact on my finances.  Additionally, I hold an array of other cards so I'm not solely dependent on this one if something happens.  I've been quite happy with the decisions I've made so far, so I'll keep you all updated on how this turns out.

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OK, as I said, it's ultimately your decision. But now I'm curious and I'm not being accusatory here. If your profile, income, etc. is great, it strikes me as odd that you would only be approved for a $1000 initial SL. Any speculation as to what tripped up the automated underwriting algorithms? 

For what it's worth, the signature logo on mine is already starting to wear off. So maybe in a month or two I'll have de facto downgraded 

[Anonymous]

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@SBR249 wrote:

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@Anonymous wrote:

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Thanks for the response.  I'm not attaching "undue sentimentality," I'm just not going to settle for something less than perfect.  The card should be Signature level, and it's not.  I'm fortunate enough to have made smart financial decisions and have a job where I don't currently need credit, nor am I carrying any balances, so my actions over something like this really have no significant impact on my finances.  Additionally, I hold an array of other cards so I'm not solely dependent on this one if something happens.  I've been quite happy with the decisions I've made so far, so I'll keep you all updated on how this turns out.

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OK, as I said, it's ultimately your decision. But now I'm curious and I'm not being accusatory here. If your profile, income, etc. is great, it strikes me as odd that you would only be approved for a $1000 initial SL. Any speculation as to what tripped up the automated underwriting algorithms? 

For what it's worth, the signature logo on mine is already starting to wear off. So maybe in a month or two I'll have de facto downgraded 

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Without disclosing too much personal information, it is due to my extremely thin portfolio.  I've recently gone from university to a high paying job, and I had my own business while I was in school.  My age and uncharacteristic income have had me flagged by Amex and now Barclays, but all it's taken is a couple questions with a credit analyst to get the job done.

[wasCB14]

Did you reapply? Or you're reconsidering your options?

[Anonymous]

+1. I've been lurking this post. I'm very interested in the outcome.

So far I'm impressed how Barclay has tried to work with you. Hopefully everything works out

[Anonymous]

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@wasCB14 wrote:

Did you reapply? Or you're reconsidering your options?

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I'm waiting for all pending charges to clear so that I can pay the blance off completely.  Of all things, my bill from this past Friday's dinner hasn't cleared yet.  I should be reapplied by Friday, and I'll post with an update.