Barclays Recon Denied

[MarineVietVet]

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@Anonymous wrote:

I received the same letter from Barclays today. I have not had any credit cards in years and so I opened a fingerhut account to estblish credit and bought and paid for a couple things there. I have student loans that are paid on time 100% for the pass four years. I have 0 debt and my credit scores are 727,707 and 672 and yet I was denied their card. No, one seems to want to give me a card and cannot figure out why I have tried twice in the last year, but do not want hard hits to my credit score trying to get a card. Any suggestions? I refuse to go the repaid credit card route I think my score warrants better than having to do that, but who knows?? Help Please.

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Welcome to myFICO.

May I ask where you got those scores? I ask because most sites out there do not sell FICO scores.

In their letter they are required to explain the reason(s) why you were denied credit, the CRA used to gather information, and the FICO score you had when the application was processed. What were those details?

[Anonymous]

Reason(s) Insufficient number of credit cards on your report. The numbers I listed were credit scores I purchased from all three credit bureau. The score they provided when they pulled my report  is listed at 760 on the paper I received in the mail. Now I monitor my credit through trans union and it states trans union as the credit agency they retrieved the information from.  the last I looked at my trans union score it was listed at 727 that was on Novermber 19,2014. I have also paid for my FICO score that I purchased when I started the monitoring services. So, unsure exactly why I have been denied now twice for credit and it's frustrating to say the least,but down I will be appying for any other credit cards anytime soon. I only wanted it to build on my score to get it up in the 800's and had only planned to use it every couple months for that purpose and then pay it off each time. Credit is crazy you do all the things to keep all your i's and t's crossed and then there is still not guarantee you will be approved for cards or loans even if you play this game in my opinion.

[MarineVietVet]

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@Anonymous wrote:

Reason(s) Insufficient number of credit cards on your report. The numbers I listed were credit scores I purchased from all three credit bureau. The score they provided when they pulled my report  is listed at 760 on the paper I received in the mail. Now I monitor my credit through trans union and it states trans union as the credit agency they retrieved the information from.  the last I looked at my trans union score it was listed at 727 that was on Novermber 19,2014. I have also paid for my FICO score that I purchased when I started the monitoring services. So, unsure exactly why I have been denied now twice for credit and it's frustrating to say the least,but down I will be appying for any other credit cards anytime soon. I only wanted it to build on my score to get it up in the 800's and had only planned to use it every couple months for that purpose and then pay it off each time. Credit is crazy you do all the things to keep all your i's and t's crossed and then there is still not guarantee you will be approved for cards or loans even if you play this game in my opinion.

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Equifax is the only CB that offers a true FICO score. It's the FICO 04 model. But you have to be very careful if you go to their site because they also offer their own proprietaty score which is not used by any lenders.

Neither TU nor EX sell FICO scores from their websites.

A 760 TU FICO is very, very good but scores are not the only items examined during an application.

But it sounds like you are in very good shape. You absolutely do not have to have even a single credit card to obtain high scores. You are just the latest example of it.

[Anonymous]

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@Anonymous wrote:

Reason(s) Insufficient number of credit cards on your report. The numbers I listed were credit scores I purchased from all three credit bureau. The score they provided when they pulled my report  is listed at 760 on the paper I received in the mail. Now I monitor my credit through trans union and it states trans union as the credit agency they retrieved the information from.  the last I looked at my trans union score it was listed at 727 that was on Novermber 19,2014. I have also paid for my FICO score that I purchased when I started the monitoring services. So, unsure exactly why I have been denied now twice for credit and it's frustrating to say the least,but down I will be appying for any other credit cards anytime soon. I only wanted it to build on my score to get it up in the 800's and had only planned to use it every couple months for that purpose and then pay it off each time. Credit is crazy you do all the things to keep all your i's and t's crossed and then there is still not guarantee you will be approved for cards or loans even if you play this game in my opinion.

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Unfortunately, if you want to have credit (more than just a score) you HAVE to play their game, and it requires that you start 'somewhere'. One of Barclays requirements is that you ALREADY have another card. I would suggest you go to the Capital One site, and click on the Pre-Qual button to see what you already qualify for. Cap One is not nearly as restrictive as Barclays is, so you should qualify for a number of different cards with your scores. Once you get the Cap1 card, garden it for six months, get the CLI increase, and re-app for the Barclays card.

[fishbjc]

Ok, don't apply for cards until asking HERE.  Barclay's is very conservative and you burned an inquiry.  Start a bit slower....Capital One, Merrick Bank or a Secured...or possibly a credit union builder card.

[fishbjc]

Boo:  Your scores aren't the ONLY factor in receiving credit.  You need to PROVE that you can handle credit...and you're not there yet.  You need a card in your file that will graduate, then begin the prime credit ladder.  Good luck.