Could I be denied for Barclaycard Rewards card?

[SouthJamaica]

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@Anonymous wrote:

My credit score is a 756 average and I am wanting to apply for the Barclaycard Rewards card. I have a Credit Karma account, and I do realize that information there isn't altogether accurate, but they have a gauge to determine your likelihood of being approved for particular credit cards. Although my credit score is rather decent, it is telling me my odds of being approved are Poor. Why would this be? Is my credit score too high for that card? Is that possible?

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I have the Barclay Rewards card and I think it's a great card for purchases if you like to use your card for groceries and utilities.

The rewards go onto your account immediately when purchases post and you can redeem them any time.

If your TU FICO is in the neighborhood of 756 I can't imagine you being turned down.

Let us know how it turns out.

[Anonymous]

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@baller4life wrote:
I agree with all the others. With such a high score,you can definitely do better.

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I agree with Baller who's agreeing with the others.

[Turbobuick]

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@Anonymous wrote:

My credit score is a 756 average and I am wanting to apply for the Barclaycard Rewards card. I have a Credit Karma account, and I do realize that information there isn't altogether accurate, but they have a gauge to determine your likelihood of being approved for particular credit cards. Although my credit score is rather decent, it is telling me my odds of being approved are Poor. Why would this be? Is my credit score too high for that card? Is that possible?

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The sole purpose for Credit Karma's existence is to steer you towards applying for cards that provide them the most revenue. Plain and simple.

Oh, and some loosely based credit scores that might come within 75 points of accurate. It isn't a site to put any credence into. 

[elim]

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@Anonymous wrote:

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@baller4life wrote:
I agree with all the others. With such a high score,you can definitely do better.

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I agree with Baller who's agreeing with the others.

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I agree with captool, who's agreeing with Baller, who's agreeing with the others.

[Anonymous]

Well, as I mentioned I have done extensive research. And with each card I look at, there is the one issue (catch22) that keeps me looking elsewhere. As far as a rewards card, I would like something in the 2%, 3%,5% range, one card that will take on the brunt of my largest sum of spending every month (Groceries, Utilities, Food and Gas), and then a 5% rotating category card to get that 5% punch when able.  But there are some other factors that I am trying to balance.

For one, I want a true "cashback" card, meaning I want a direct deposit or check. Many will argue, statement credit is the same thing, and in essence it is. However, I will never carry a balance higher than $100 to statement and I don't want to have to constantly request credits for small amounts. I want to build a pool of cashback over an entire year to redeem just before Christmas for holiday spending.  I have now found out that Barclaycard, Sallie Mae, Amazon Rewards Visa, and Amex BlueCash Everyday are all statement credit ONLY. So I'm pushing them to the back burner.

Second, I currently have a non-rewards card that I used to build credit. I'm not a credit card junkie, I don't even want credit cards, I'm a cash guy. But I had to build credit. Done. Now I simply want to continue the same routine but get cashback for what I have to spend anyway. Just makes sense. I simply want a rewards card combo that covers the majority of my spending without opening 12 cards to do so.

So as it stands now, CapitalOne Quicksilver, Chase Freedom, and Discover It are the only cards that are going to give me the true cashback option. Aside from the 5% categories, I can't find a solid card for Grocery, Gas, or Food with true cashback. The first card I dug into was the Citi Double Cash card. I thought that was the perfect everyday cashback card, but all I've read about is red-tape issues with the (1% at purchase) + (1% at payment). Evidently you have to carry the full balance of your spending to statement to earn the (1% at payment), thus destroying your utilization percentage and I'm simply NOT going to do that. Also seems to be an issue with long wait times and other difficulties with getting the rewards. So I completely abandoned that one. (Sad.)

So until I find some other options, looks like I'm stuck with a 1.5% everyday card, and 2 revolving category cards. Barclay would have actually been perfect for my needs, but statement credit ONLY, no thanks.

[elim]

you can always use your rewards card for holiday spending and get the statement credit then,

[baller4life]

Fidelity Amex is 2% cashback that you set up a Cash Management acct at Fidelity to have your cashback deposited into. Nice way to build up the cash you want.

[Anonymous]

Does the Fidelity Amex still report open credit line? That was another issue I found with Amex. I'd like my credit limit to be reported so I have control of my credit score.

[baller4life]

Fidelity Amex is backed by BOA/FIA not Amex Centurion and reports your actual credit limit to all reports. This is an awesome card for exactly what you are looking for.

[Anonymous]

Alright, that will be my next target for research then. Not a fan of BoA, but I'll definitely check it out.