Barclays and inq sensitivity

[Anonymous]

I applied for the AA card last month and was denied for LOL/24.  The secondary reason was for inquiries (which was considerably lower than new accounts) so Barclays does give some weight to that metric as well. 

I already have the Arrival Plus and made sure to put decent spend/activity on it for the 3 months leading up to the application.  That didn't matter.  Recon didn't budge  My TU is 828.  Everything else in my profile should've made the app a new account...

[expatCanuck]

I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.

[800FICOGoal]

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@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.

This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds. 

[Gmood1]

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@800FICOGoal wrote:

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@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.

This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds. 

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Whose underwriting are you referring to? Generally from what I've experienced. The AAoA had no real impact on whether I was approved or denied. It had more to do with how each lender judges your credit profile. No two are the same. It would be nice if there were a magic number. After 60 plus apps over the last 3.9 years. I'm pretty confident AAoA isn't a major factor in gaining approvals.

The number of new accounts is the #1 reason for denials. That's if your files are free of derogs and your credit history is reasonable, say 24 months with 3 trade-lines as the base.

I'm no expert by any means. I base my statements purely off what I've experienced.

[coldfusion]

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@Gmood1 wrote:

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@800FICOGoal wrote:

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@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.

This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds. 

---

Whose underwriting are you referring to? Generally from what I've experienced. The AAoA had no real impact on whether I was approved or denied. It had more to do with how each lender judges your credit profile. No two are the same. It would be nice if there were a magic number. After 60 plus apps over the last 3.9 years. I'm pretty confident AAoA isn't a major factor in gaining approvals.

The number of new accounts is the #1 reason for denials. That's if your files are free of derogs and your credit history is reasonable, say 24 months with 3 trade-lines as the base.

I'm no expert by any means. I base my statements purely off what I've experienced.

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I'd agree with you.  Your experience pretty much aligns with mine.

BTW I was IIRC at 45/24 when I picked up my Uber Visa with instant approval.  Profiles matter.

[FinStar]

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@coldfusion wrote:

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@Gmood1 wrote:

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@800FICOGoal wrote:

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@expatCanuck wrote:
I was 6/24 (6/12, actually) when I applied for (and was issued) the Uber. TU INQ's were 6 or so. Scores were in the high 700's / low 800's.

Ten months earlier, I had BT'd a good chunk of change to the Ring; it was either fully or almost fully paid off by the time I applied for the Uber. And my spend on the Ring had been next to nothing.

AAoA was ~7 years; AoOA was ~19 years.

This is why I'm so focused on AAoA. The underwriting seems to loosen up when you cross 5+ year thresholds. 

---

Whose underwriting are you referring to? Generally from what I've experienced. The AAoA had no real impact on whether I was approved or denied. It had more to do with how each lender judges your credit profile. No two are the same. It would be nice if there were a magic number. After 60 plus apps over the last 3.9 years. I'm pretty confident AAoA isn't a major factor in gaining approvals.

The number of new accounts is the #1 reason for denials. That's if your files are free of derogs and your credit history is reasonable, say 24 months with 3 trade-lines as the base.

I'm no expert by any means. I base my statements purely off what I've experienced.

---

I'd agree with you.  Your experience pretty much aligns with mine.

BTW I was IIRC at 45/24 when I picked up my Uber Visa with instant approval.  Profiles matter.

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I would echo the above statements.  And my experience has been very similar as that of @coldfusion and @Gmood1.  Your specific profile, however they slice it and dice it throught that algorithm engine, is what determines the eventual outcome.  Strategy is also key.  LOL/24 here!

[Anonymous]

I applied for the Uber Visa back in August and was denied because of new accounts. My Fico 8 were all in mid-high 600's. When I called the recon department and asked about the denial they said it wasn't the inquires,it was because of the 7 new accounts I opened. He suggested I should let them age a year and then reaply if used responsibly. He also said he would refrain from opening any new cards if I want to get that one next . I took it as a great time to garden. I just paid off a bunch of cards and although I am sure my score is going to skyrocket I am going to really try and do what he suggested. I will benefit greatly from this card so it will be worth the wait.