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@Creditaddict wrote:I think very few have issues when the new accounts hit, now increasing debt I think is more tracked then new accounts and barlcay I think is the #1 offender of CLD and closure with new accounts and increasing debt after opening of account even if not with them.
otherwise not really that I have seen.
I've had my Barclay card 9 months and they did give me a $1000 auto increase at statement 6... And have still SP my CR every month.
In case any credit addicts who just opened their Barclay account are reading this... Beware.
You can also search these forums for many topics from people who have had their accounts CLD or even closed for what Barclay deemed risky behavior.
@TRC_WA wrote:
@Creditaddict wrote:I think very few have issues when the new accounts hit, now increasing debt I think is more tracked then new accounts and barlcay I think is the #1 offender of CLD and closure with new accounts and increasing debt after opening of account even if not with them.
otherwise not really that I have seen.
I've had my Barclay card 9 months and they did give me a $1000 auto increase at statement 6... And have still SP my CR every month.
In case any credit addicts who just opened their Barclay account are reading this... Beware.
You can also search these forums for many topics from people who have had their accounts CLD or even closed for what Barclay deemed risky behavior.
We also change our convential wisdom glacially slowly sometimes, and the markets move much faster than our advice does. Guess I'm testing the theory as I spreed 4 accounts this last time including a Sallie Mae, but one had already reported and the two others are innoculous small-dollar secured installment loans: if Barclay's really has a problem with new accounts I should be flagged... but I really rather doubt it.
Anyway, if you have the discipline to garden non-trivially post-spree, it works out better all the way around on the assumption in my opinion, with the caveats I don't apply for a bunch of junk tradelines which I don't need, and personally I never spree beyond 4 accounts of any type. I don't count my first year really building credit as that was all over the map, but I've done two sprees since then (at the 1 year mark and the 2.3 year mark respectively) and hasn't been any negative repercussions.
Of course, I have a lot bigger derogatories and therefore problems on my credit report than spreed new accounts, YMMV
@Revelate wrote:
@TRC_WA wrote:
@Creditaddict wrote:I think very few have issues when the new accounts hit, now increasing debt I think is more tracked then new accounts and barlcay I think is the #1 offender of CLD and closure with new accounts and increasing debt after opening of account even if not with them.
otherwise not really that I have seen.
I've had my Barclay card 9 months and they did give me a $1000 auto increase at statement 6... And have still SP my CR every month.
In case any credit addicts who just opened their Barclay account are reading this... Beware.
You can also search these forums for many topics from people who have had their accounts CLD or even closed for what Barclay deemed risky behavior.
We also change our convential wisdom glacially slowly sometimes, and the markets move much faster than our advice does. Guess I'm testing the theory as I spreed 4 accounts this last time including a Sallie Mae, but one had already reported and the two others are innoculous small-dollar secured installment loans: if Barclay's really has a problem with new accounts I should be flagged... but I really rather doubt it.
Anyway, if you have the discipline to garden non-trivially post-spree, it works out better all the way around on the assumption in my opinion, with the caveats I don't apply for a bunch of junk tradelines which I don't need, and personally I never spree beyond 4 accounts of any type. I don't count my first year really building credit as that was all over the map, but I've done two sprees since then (at the 1 year mark and the 2.3 year mark respectively) and hasn't been any negative repercussions.
Of course, I have a lot bigger derogatories and therefore problems on my credit report than spreed new accounts, YMMV
I opened the CCs in my sig in order last May-Dec.... A lot of new accounts after the Barclay. But I also read a thread last week where a guy had listed a dozen different threads where people had had their Barclay accounts closed... Some after sprees.
I dunno... I've got all the CCs I need... Haven't applied for one in 6 months and have no plans to until 2016. But for those who are spree happy it does happen... Random maybe but Barclay is sensitive.
They continue to SP me... A thread I read a few days ago summed it up pretty well. Barclay is like that jealous girlfriend who is always checking your cellphone while you aren't looking. She loves you but doesn't trust you... LMAO
I have a Barclay's NFL Rewards card. Initially got approved for $3,300. Took advantage of the BT @ 0% for 12 and made some other purchases. My limit got up there and they CLD my account by $200. I have since paid the card off and will not spend a penny with them. Can't stand Barclay's, but I'll soon make a purchase for a $20 shirt or something to keep the card active.
I refuse to apply for anything Barclay related in the future.
I just recently got a Barclay Rewards MC. I got a decent limit for me at $2500 and a nice low for me 14.00% APR. The same day I applied for the Barclaycard I also applied for Chase Amazon. Of course the Chase card still hasn't reported and 2 new student loans hit my CR today. If they don't like new accounts, I should be hearing from them soon!