Denied by Barclay

[OHWWCB]

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@Turbobuick wrote:

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@Jerry45 wrote:

They want to see at least one TL with  a year of age. Also any new opened accounts, 3 or 4 payments on your Transunion CR. They told me 30% Utilz, but who knows.

Recon is a drag, someday I just want to be one of the lucky few who get approved instantly. LOL

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Applied for a couple Sallie Mae World Cards, for my wife and myself, 4 days ago and hadn't heard back so I called them this morning using the backdoor number (answered by male and handed off to female).  

She took lots of info from me regarding address, birthday, SSN, and time in current home. All stuff that was on the app. Nothing related to income which was surprising since I'm self-employed. Not really sure why I wasn't instantly approved. Perhaps should have asked, but it didn't occur to me. 

35 yr credit history, fico over 800, less than 2% current utilization, approved with $12.5 CL on two cards. I think the 30% utilization thing was a ruse.

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I hope your case is true about the 30% utilization. I want the Arrival World Mastercard but they won't give me one because, at the time, I didn't have another card with a $5000+ limit. I do now but I definitely DO NOT want to carry a 30% balance on any of those cards. Hmm...

[elim]

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@Jerry45 wrote:

Baller, thanks for the tip on creating a statement for Walmart. I went in store and paid $1 over my balance, and it worked like a charm.

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  wait, what is this trick? synch/wally will cut a statement with a negatice balance? i'm getting tired of shopping when i don't have to just to cut a damn wally statement.  sorry for the off-topic

[Jerry45]

Elim, it is not really a trick. My due date is the 14th, and a statement usually cuts by the 22nd if I have a activity and some sort of balance. Instead of having a balance and causing my credit score to drop, I just buy something for $10 between the 15th and say the 20th on my card.

Then the kicker is you pay say $11 causing a balance of +$1, which generates a statement and then reports to the CR's as a 0 balance.

You must pay this in store, because you cannot overpay online. Hope this makes sense.

[baller4life]

[elim]

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@Jerry45 wrote:

Elim, it is not really a trick. My due date is the 14th, and a statement usually cuts by the 22nd if I have a activity and some sort of balance. Instead of having a balance and causing my credit score to drop, I just buy something for $10 between the 15th and say the 20th on my card.

Then the kicker is you pay say $11 causing a balance of +$1, which generates a statement and then reports to the CR's as a 0 balance.

You must pay this in store, because you cannot overpay online. Hope this makes sense.

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   ahhhh nice... less than 1% = 0% to the CRA's   tks   

[Anonymous]

I wouldn't say that you'd be turned down for not carrying a 20-30% balance on your cards as I'm not sure if that was just theirs or across the board...thats one thing that i didn't ask and wasn't voluntarily specified.  I will say that when I got the Rewards MC I didn't have a 30% utilization on my CR...it was close to 5% overall, but I got a low starting line of $1.3K so I wanted to know why the low limit and that was part of the response I got.  The way it was said sounded like she was directly referring to their cards, BUT it could've also been taken to mean across the board so I'm sorry I was stupid and didnt' think to ask her to clarify that part.  All I know is that the main concern of my call was finding out how I could get my limit up higher and she said that with carrying 20-30% I should be auto CLI'd within 6 months or sooner without even having to ask for it??

Who knows!  I'm certainly not on here advocating to carry balances as that is directly against how I conduct my own affairs, but since the card has a 0% apr for the first year I will go along with them and carry one while i'm in the 0% phase just to test the theory!  None of us can be certain of how each bank conducts their affairs but I agree with the previous post that if Barclays makes the bulk of their profit off intrest then it only makes since that they like seeing that.

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[Anonymous]

Oh yeah...as to them not liking a lot of inquiries and new trade lines....they were actually part of an app spree i went on this past month of Barclays, Chase, Discover, BOA Better Balance, Citi Dividend, and Amex.  I actually had some inquiries on my report from last october when I purchased my car but they say those only count as one...whether they do or not there were 7 of them so who knows for sure.  Point being my app spree was over the course of 2 days and Barclay was on the 2nd day so I know there were 4 inquiries from the day before on there when they approved me and then another 2 besides them that was opened that same day.  I didn't know at the time they were so sensitive from the posts on here, but I guess I will just have to wait and see if they AA me.  I don't really expect it though because they def saw the apps from the day before as the hard inquiries from them were already on my CR so if they were that sensitive they shouldn't have approved me at all.  It doesn't really matter much to me as I don't really have use for it since being approved for the much better rewards cards like Chase, Discover, and Citi, but i hope it doesn't get closed as I'd like to at least keep a good relationship with them.  I'm just not gonna sit around stressing out over something that may or may not happen.  Just giving my .02 on the whole Barclay conspiracy lol 

[Jerry45]

We'll said hopes, but I was denied on second recon today by barc. The rep repeated the util as being at least 50% this time. I agree that char, citi and Amex are better anyways

[Anonymous]

I'm sorry Jerry!  I don't think Barclays even really know what they want!  By everything you read there is no way I should have been approved, but they did and I do hope to keep them as the main reason I wanted their card is the 2x points on utilities.  I figure I have to pay my utilities every month anyway...why not get 2x the points from it and then pay it off.  I'm not carrying the 30% right now its at 20% and i'm trying to keep it around there since i have nothing to lose with the 0% interest but they are a weird company to figure out that is for sure!  It seems every rep you talk to has a different opinion of what they're looking for which makes me think they may not have a set standard to begin with??  Jerry....did you read the post that journey had on here trying to figure out the method to the madness of barclay?  It's pretty interesting, but it does seem to agree with what we've been told about carrying a bal as most of the ppl who posted CLI's had or had been carrying a balance.  Hey who knows...they say third time is a charm...maybe you could try one more time!  I went on a spree and got all but one card without having to recon and that was Discover IT...I did have to recon them and ended up getting it thank goodness, but since I didn't recon with Barclays I don't really have any experience or advice to give on that, but before I'd waste a HP i'd recon til they told me to stop calling! LOL 

[Jerry45]

Thanks Hopes. I have talked to two reps and a Supervisor over there total, and I am done. A good point was made here the other day about Initial CL's. I have come to the point, that if even if Barclay approved me, it would have been for $500, and would have sat there for at least a year. I am not willing to carry big balances or high Utilil to get ClI's.

I am glad you had a smoother ride when Apping, that is great. I hope I can get to that point. Recon feels like applying for a Job over the Phone LOL.

I hit one year on my longest card in Sept. Do Banks want to see one card with 1 years age, or 1 year age of accounts? Anyways thanks for the encouragement hopes.