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dont let me see this lol
@Hammer23 wrote:Here is some guidence as to what they are looking for to approve the card:
This is from the application and counts me out :-(
Below are optional questions to help you determine if you are a good fit for the community credit card product. These questions are not designed to pre-screen you for the Barclaycard Ring MasterCard. Instead, the questions are intended to introduce you to some of the key credit granting criteria, and are designed to provide you with information about how we make our credit decisions for this particular product.
Do you know your current credit score?
Credit scores are intended to reflect how you manage your credit. We generally do not approve customers who have a credit score below 680. Although having a credit score above 680 does not guarantee approval, it does increase the likelihood. In addition to the credit score, we consider other factors, such as income and debt, in the decision process. If you would like more details about your credit score, please visit www.myfico.com.Have you paid more than 30 days late on any account or filed for bankruptcy?
We do not approve applications when there is a history of late payments for more than 30 days. Consumers make late payments for many reasons, but extending credit to consumers that show a history of making late payments is not considered to be a safe and sound practice by our regulators. Bankruptcy is a process that occurs when a consumer cannot repay the debts owed to creditors. To protect the bank and the consumer, we do not approve consumers whose credit files show an adverse public record such as bankruptcy.Do you have 2 or more credit card accounts with high balances?
Consumers with substantial amounts of debt compared to their annual income, pose a greater risk of being unable to pay bills. As a person's debt increases, their payment amounts also increase. If a significant percentage of the income is used to pay debt (i.e. mortgage, credit card and loan balances, etc.), this indicates that the individual may not have the ability to pay any incremental debt. Again, as a way of managing the safety and soundness for consumers, credit is not granted when high debt compared to income is present.
Gotta love the plug for Myfico...lol.
I wonder if I can PC from my Apple Financing Visa to this.
Going from 22.9% to 8% APR would make me take that card out of the SD. It would also be my lowest APR by 4 points.
@andre181 wrote:I wonder if I can PC from my Apple Financing Visa to this.
Going from 22.9% to 8% APR would make me take that card out of the SD. It would also be my lowest APR by 4 points.
Rep said no earlier... but he also said for ALL Barclay NO PC, but we know that's not true... I was going to wait unitl credit dept open tomorrow and talk to them!
This is definitely a fancier version of the Barclay cards. They gave me the Apple card with a 4 year old BK reporting but they are not considering BKs for the ring. They don't even want accounts with more than a 30 day late payment. I guess this will b a "prime" Barclay
This is exactly what I was thinking. I've heard Barclay is stingy with CLs though.
Not usually. If you look around these threads, you will find many people suggesting the opposite. I applied a few weeks ago and was instantly approved for $1300 (maybe $1700, can't remember now). I called and was able to get a CL of $4000 on recon. They are also supposed to be good with auto CLIs
They don't like one applying for new credit after you get their card and are notorious for softing and CLDs but they are usually pretty generous with CLs.
But of course, YMMV.
So what's all the hub-bub about? I went to the site and looked up the information and saw nothing special about this card other than a low APR.
Am I missing something?
Follow my financial journey: http://www.frugalrican.com
This card will round my portfolio nicely. I've got rewards cards out the ying yang.(Discover More, Chase Freedom, Amex BCP) What I don't have is a low APR card to carry balances on. But it will probably be a while as they said they don't like high balances, I've got $2.5k/$3k on my Lowes card. Took advantage of 18 months 0% for some new appliances so it'll be next summer. Only thing that has me worried is I've got a couple 6 year old CA's. If they want a completely clean report other than 30 day lates I'm screwed I guess.
8% APR and a $1 fee for cash advances?
Sounds like a good way to have a LOC in your back pocket.
If you go to the app page, it asks you if you know your FICO score. They cater to <680, no lates/BK, and one or zero CC accts with high balances.
They also offer some sort of profit sharing program.
Definitely piques my interest.
If you look at the application questions, it is a card for people with good credit and a clean CR.
So not me.