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Life after Barclaycard

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goal_digger
Regular Contributor

Life after Barclaycard

Apologies in advance for the long post.

Having just received a letter from Barclaycard that my Arrival+ WEMC account has been sold I was first confused (read: annoyed and mad) but then kind of glad when I logged in and saw that others were receiving the same message.

After reflecting for a bit, I’ve decided to devise an app strategy that will allow me to make up for the ~12k CL I will lose from the closure of my Barclaycard account.

Before the letter these were my 2018 plans:

•Close the Overstock and West Elm cards at the end of the year after requesting some SP CLIs on other accounts (CapOne, AMEX, BOA) to keep my available credit at or around the same level.

•Payoff my Chase SW card and transfer the limit to my Freedom before closing the SW as I no longer use it. (Also been toying with the idea of PCing the Freedom to a FU but I’m on the fence.)

•App for the CSR (for travel protections/dining category) and possibly a Citi card in December.

Because I know the question may come up, yes I can justify the cost of both the Amex Plat and CSR. I travel for work 2-3 weeks out of every month which is why travel cards are important to me. I also travel internationally several times a year so having no FTFs and travel benefits are at the top of my list. Annual fees are fine.

I’ve received offers from Citi (DC and one of the TY cards) with solid APRs. Have not received any CC green check mark offers from Chase.

Here is my cc portfolio with open dates:

AMEX Plat (4/2018)
AMEX BCP 24k (11/2008)
BOA CR 14k (8/2012)
Barclaycard Arrival+ 12k (2/2015)
CapOne QS 5k (2/2015)
Chase Southwest 5k (1/2015)
Discover IT 2k (2/2015)
Amex Delta Gold 1k (11/2008)
Chase Freedom .5k (11/2013)

I also have the following store cards:

Macy’s 12k (8/2014)
West Elm 5k (3/2015)
Overstock 4k (1/2015)

Currently at 35% util. Scores in siggy are current though I’m waiting for my TU score to update... should go up approximately 8-10 points.

Inquiries (only 1 in the last 12 mos and that one is on TU. All the rest are from the last 24 mos)
EX 1
EQ 3
TU 2

I’m 1/24. No baddies. 100% on time payment history. Above average salary.

So here are my questions:

•Do my chances of obtaining the CSR seem good? Or am I deluding myself?

•In what order should I apply? Chase or Citi first?

•Are there other cards I should consider? Perhaps another Amex with an intro offer?

My thinking is that if all goes well I will just BT my Barclaycard balance to a new card and close it. I was actually going to pay it off at the beginning of September. Can do the same with my Southwest if new SLs will accommodate.

Thoughts?
In order of approval...
Fico Scores: EX 721 | EQ 723 | TU 719
Goals: Reduce util, obtain soft-pull CLIs and 720 across the board.
16 REPLIES 16
AverageJoesCredit
Legendary Contributor

Re: Life after Barclaycard

App Chase first if under 5/24. You might get a high enough limit to bt.
Message 2 of 17
wasCB14
Super Contributor

Re: Life after Barclaycard

Any hotel cards of interest?

 

If you got a new Barclaycard product (I don't think they are selling the hotel/airline/timeshare/Uber cards) you might be able to move the CL over to the new card. I'm not sure if the sale would prevent that, though.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 3 of 17
goal_digger
Regular Contributor

Re: Life after Barclaycard

Thanks so much for the response, @AverageJoesCredit. I was starting to get discouraged from the lack of feedback and that was my highest priority question - who to app first. Would be nice to get enough of a limit from Chase though I'm not holding my breath. 

 

My conversion date is Sept. 24 but with the other credit goals I had in mind I figure now is fine, just a few months early.

 

Will report back when I unfreeze my reports and apply but happy to receive any feedback others might have. 

In order of approval...
Fico Scores: EX 721 | EQ 723 | TU 719
Goals: Reduce util, obtain soft-pull CLIs and 720 across the board.
Message 4 of 17
goal_digger
Regular Contributor

Re: Life after Barclaycard

@wasCB14 Thanks for your response. And I wish.. when it comes to hotels I'm a bit 'promiscuous'. LOL! My loyalty has gone to whoever gives me the best value at the highest comfort level. Because of my work travel and region, I sometimes don't have access to many brands that I would want to be loyal to but on average I stay at Hilton, Marriott, SPG or Hyatts. If I understand correctly Marriott and SPG are merging but, again, I have never been intentional about sticking to one brand. Also, my Amex Plat offers me Gold status with both Hilton and SPG so haven't felt a need to (though I can be swayed).

In order of approval...
Fico Scores: EX 721 | EQ 723 | TU 719
Goals: Reduce util, obtain soft-pull CLIs and 720 across the board.
Message 5 of 17
arkane
Established Contributor

Re: Life after Barclaycard


@goal_digger wrote:
So here are my questions:

•Do my chances of obtaining the CSR seem good? Or am I deluding myself?

Scores are OK but if you can bring that util to <28.9% at least that'd be good, ideally <8.9% if possible.

•In what order should I apply? Chase or Citi first?

As AJC mentioned, definitely Chase first to avoid running into 5/24 issues.

•Are there other cards I should consider? Perhaps another Amex with an intro offer?

You mentioned you were on the fence about PCing your Freedom to FU. Since you're going for the CSR, why not app for the FU instead to complete the "Chase Trifecta"? Use your FU for non-category spends, then transfer the URs to CSR to take advantage of the 1.5x redemption.

My thinking is that if all goes well I will just BT my Barclaycard balance to a new card and close it. I was actually going to pay it off at the beginning of September. Can do the same with my Southwest if new SLs will accommodate.

How much do you owe on the Arrival+, and do you still have the option of paying down your Arrival+ in September? If yes and you don't need the new cards urgently, my answer would be to wait until the Arrival+ is paid off before apping for new cards.

Thoughts?

 

Active:

Closed:


6/8/20:

Message 6 of 17
wasCB14
Super Contributor

Re: Life after Barclaycard


@goal_digger wrote:

@wasCB14 Thanks for your response. And I wish.. when it comes to hotels I'm a bit 'promiscuous'. LOL! My loyalty has gone to whoever gives me the best value at the highest comfort level. Because of my work travel and region, I sometimes don't have access to many brands that I would want to be loyal to but on average I stay at Hilton, Marriott, SPG or Hyatts. If I understand correctly Marriott and SPG are merging but, again, I have never been intentional about sticking to one brand. Also, my Amex Plat offers me Gold status with both Hilton and SPG so haven't felt a need to (though I can be swayed).


For your travel frequency, I think a CSR would be worth it. If you can't get that, however (I don't know the odds with 35% util), then Hyatt or Marriott might be worth a look due to their lower minimum CLs.

 

I have the old $75 Hyatt, closed to new apps. I assume the Marriott and $95 Hyatt cards have travel protections at least as good as $75 Hyatt but trailing CSR.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 7 of 17
goal_digger
Regular Contributor

Re: Life after Barclaycard


@arkane wrote:

@goal_digger wrote:
So here are my questions:

•Do my chances of obtaining the CSR seem good? Or am I deluding myself?

Scores are OK but if you can bring that util to <28.9% at least that'd be good, ideally <8.9% if possible.

•In what order should I apply? Chase or Citi first?

As AJC mentioned, definitely Chase first to avoid running into 5/24 issues.

•Are there other cards I should consider? Perhaps another Amex with an intro offer?

You mentioned you were on the fence about PCing your Freedom to FU. Since you're going for the CSR, why not app for the FU instead to complete the "Chase Trifecta"? Use your FU for non-category spends, then transfer the URs to CSR to take advantage of the 1.5x redemption.

My thinking is that if all goes well I will just BT my Barclaycard balance to a new card and close it. I was actually going to pay it off at the beginning of September. Can do the same with my Southwest if new SLs will accommodate.

How much do you owe on the Arrival+, and do you still have the option of paying down your Arrival+ in September? If yes and you don't need the new cards urgently, my answer would be to wait until the Arrival+ is paid off before apping for new cards.

Thoughts?

 


@Anonymous @arkane. Excuse me, y'all.. finally learning how to quote. With all that being said the additional feedback is helpful!

 

Prob wouldn't be able to get to under 30% (or 28.9%) until September but haven't done the math yet. Might be sooner. Def a no-go on under 8.9% at the moment. Currently owe ~$3200 on the Arrival. This can still be paid down without BT by the beginning of September. No card is needed urgently but just trying to 'move' and have things in place before the Barclay conversion is complete.

 

Follow-up questions: How many Chase apps are acceptable at once? CSR is higher priority. FU (or other apps including Citi) would be secondary. The Citi/Amex apps are simply to supplement what I may or may not receive from Chase, depending on app outcome. Plus I have spend minimums to consider.

 

Thanks, again!

In order of approval...
Fico Scores: EX 721 | EQ 723 | TU 719
Goals: Reduce util, obtain soft-pull CLIs and 720 across the board.
Message 8 of 17
goal_digger
Regular Contributor

Re: Life after Barclaycard

So for full transparency here was my preliminary thinking (before all the feedback):

 

App CSR

Depending on outcome and limit, app Citi

Depending on outcome, app Amex EDP

*If apping Amex EDP (pre-approved) downgrade BCP before annual fee hits

 

Long term:

  • EDP reasoning is for MR bonus and accumulation. Really haven't used cash rewards *in a meaningul way* from BCP. 
  • Still plan to close the West Elm and Overstock accounts. They've been good to me but the APRs are too high and it's time to move on.
  • As mentioned, I will be closing the Barclaycard account. Although the rewards structure is 'somewhat' similar with Mercury there is no value to me so it's going before the conversion no matter what.
  • Paying Southwest this month, combining with my Freedom limit and closing. 

Keeping track for anyone who may be interested in DPs. Will progessively add results along the way. 

In order of approval...
Fico Scores: EX 721 | EQ 723 | TU 719
Goals: Reduce util, obtain soft-pull CLIs and 720 across the board.
Message 9 of 17
Anonymous
Not applicable

Re: Life after Barclaycard

So, perhaps I'm late to the party, but the Arrival+ is getting sold off?  I just paid the annual fee on mine, and I wouldn't be thrilled about things changing that much...

Message 10 of 17
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