Barclays Rewards Pre Selected in mail?

[jetsfan2013]

Hey everyone,

Over the holiday I received a pre-selected letter from Barclays about their Rewards MC. The promo looked decent - offering 0% for 6 mo and after that goes to 22.9, and 2 points for every 1 dollar spent on every day items, 1 dollar on everything else. I am year post BK this month, and in the first year out I have started my rebuilding with

Cap 1- 500 (2/12)

Cap 1 - 500 (7/12)

Show MC - 550 (5/12)

First National Bank - 350 (8/12)

I would prefer to use the Barclays over all of the above if approved, as not only would it be my only rewards card, but carries a lower AF (39) then both the Show and First National.I have read that they are pretty good on recon if not approved initially, however due the recent hurricane, my util reporting on my cards were higher than normal(80%).

What are the odds I get approved?

[madmann26]

I'd drop that utilization a bit before I applied. You will probably will get denied and even may get it approved through a recon, but I wouldn't chance it.

llecs/Shogun - can we get this moved to the CC forum please?

[Anonymous]

+1

[jetsfan2013]

Thought I provide a quick update -

So yesterday I called the credit analyst at Barclays to get update on my app. It was initally declined due to util of accounts and newness of accounts. She asked me a few questions regarding income and I advised her the card util occured due to unforseen circumstances(sandy) in late october. She said even with that she wouldnt be able to approve at this time, however I was on the right track with everything.

I truly believe if my util had reported the updated balances(less than 20 percent) the score would have been high enough for me to get approval, even if the credit line was low. They pulled TU at the time FYI.

[Tristate]

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@jetsfan2013 wrote:

Thought I provide a quick update -

So yesterday I called the credit analyst at Barclays to get update on my app. It was initally declined due to util of accounts and newness of accounts. She asked me a few questions regarding income and I advised her the card util occured due to unforseen circumstances(sandy) in late october. She said even with that she wouldnt be able to approve at this time, however I was on the right track with everything.

I truly believe if my util had reported the updated balances(less than 20 percent) the score would have been high enough for me to get approval, even if the credit line was low. They pulled TU at the time FYI.

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Do you mind to tell your credit score as of now ? I'm 1 year after BK too and will apply soon for this card , just waiting for my CLI from Cap1 to show up in reports and possibly getting few more points for that.

[Anonymous]

I received a pre-selected offer, June 2012, and I applied. The cl is small at $350, but at least I was able to get approval, so that it can replace the sub-prime cards that I'm going to start closing between Jan 2013 - Aug 2013. My score(s) are/were in the low 600's (610-630 range), and I was approved. Also, I had my utilization at about 65% because I am starting a business, and had to pay for business stuff, and since all my cl are low, I spread things out among them. The utilizations will be lower, as I'll be using tax money to pay a few off, and down, and the remaining subprime cards will be paid off in July, so at that time, I'll be a year with Barclays, and (hoping) I should be able to request CLI to 1.5-2k. I'm supposed to have a review later this month or Jan for an increase, per the letter I received; however, my utilization will not be down by the time they do the review, so I may not get an increase, but I'm ok with that, because I want to go for a bigger one later.

[Tristate]

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@Anonymous wrote:

I received a pre-selected offer, June 2012, and I applied. The cl is small at $350, but at least I was able to get approval, so that it can replace the sub-prime cards that I'm going to start closing between Jan 2013 - Aug 2013. My score(s) are/were in the low 600's (610-630 range), and I was approved. Also, I had my utilization at about 65% because I am starting a business, and had to pay for business stuff, and since all my cl are low, I spread things out among them. The utilizations will be lower, as I'll be using tax money to pay a few off, and down, and the remaining subprime cards will be paid off in July, so at that time, I'll be a year with Barclays, and (hoping) I should be able to request CLI to 1.5-2k. I'm supposed to have a review later this month or Jan for an increase, per the letter I received; however, my utilization will not be down by the time they do the review, so I may not get an increase, but I'm ok with that, because I want to go for a bigger one later.

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Thanks for sharing ! I feel pretty confident that I will get something from them. Good luck with lowering your UTI !

[jetsfan2013]

My TU was 601 at time of app, but the util had a big impact on that. I am thinking of letting things settle for 4-6 months then trying again

[Anonymous]

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@Tristate wrote:

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@Anonymous wrote:

I received a pre-selected offer, June 2012, and I applied. The cl is small at $350, but at least I was able to get approval, so that it can replace the sub-prime cards that I'm going to start closing between Jan 2013 - Aug 2013. My score(s) are/were in the low 600's (610-630 range), and I was approved. Also, I had my utilization at about 65% because I am starting a business, and had to pay for business stuff, and since all my cl are low, I spread things out among them. The utilizations will be lower, as I'll be using tax money to pay a few off, and down, and the remaining subprime cards will be paid off in July, so at that time, I'll be a year with Barclays, and (hoping) I should be able to request CLI to 1.5-2k. I'm supposed to have a review later this month or Jan for an increase, per the letter I received; however, my utilization will not be down by the time they do the review, so I may not get an increase, but I'm ok with that, because I want to go for a bigger one later.

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Thanks for sharing ! I feel pretty confident that I will get something from them. Good luck with lowering your UTI !

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Thanks Tristate! I'm on a mission to get the UTI lowered and pay-offs by late Summer/early Fall. I'm cutting out ANY frivolities for the next 6 months or so!

[flowfaster]

Why get this card when you can get the 2% Priceline card?