Not sure if I should recon Barclay- Here is what they sent

[ManofB]

I got my denial letters in the mail today, had applied for Barclay Rewards card and US AIr (didn't have any belief my scores supported this, but they have been pushing it, so I figured why not)

 

First off, I thought these were going to pull TU, but they pulled Experian. I should have had Experian frozen, but a few months ago when I went to freeze it, it wouldnt let me online, said I had to mail it in. Never got around to it. My fault on that.

 

EX score from the denial letter- 640

 

Their denial reasons for US Air:

High number of recent credit inquiries

Insufficient number of accounts

High number of credit cards recently opened

 

Their denial reasons for Rewards:

Sufficient open lines of credit

 

On the back they also listed the key factors that affected my credit score which is the usual time since delinquency too short, collection on file, etc

 

Are the denial reasons they listed recon worthy? Have not done a recon yet, and while not scared to pick up the phone, a little apprehensive about how the call might go.

 

Any insight for my first time?

 

 

[mendelssohn]

Sometimes they pull EX in addition to TU. You have nothing to lose now, so you might as well call and try to recon.

 

How old is your oldest revolving account?

[ManofB]

Personally, 1.5 years

AU on an account that is 15 years old

 

Are their reasons listed for denial what they really base their decision from or does it have to do more with the stuff on the back of the letter?

[mendelssohn]

The denial reason with your score are generated by FICO because you don't have an 850.

 

The other reasons are from Barclays and you should recon.

[ManofB]

They are closed for the day apparently. I will have to call tomorrow. I'm in sales, so I definitely have thick skin and no fear of picking up the phone, but with this, there is definitely an underlying uneasiness. I know, whats the worst that can happen- but I think in my head I am envisioning getting quizzed a la lie detector style about all my past credit indiscretions.

[ManofB]

BTW, thanks Mindy

 

You have helped me a ton (whether you knew it or not)

[mendelssohn]

Good luck!

[popamode72]

Good luck and I hope you get the card!

 

I'm wondering myself how often Barclays pulls EX. Does that just depend on whether one might be borderline for one of their cards or not or does it depend on whether the card is cobranded or not?

Edited September 25, 2014 by popamode72

[ManofB]

I don't know the answer to the question on how often they pull EX, hopefully someone more knowledgeable can answer that, I do know that you should have it frozen. You can undo the damage of inquiries with EQ and TU with B*, not such thing with EX. Or at least plan your EX apps appropriately. Based on my research on the creditpulls database, I thought for sure this was going to be a TU pull. I screwed up by not freezing EX beforehand like I meant to.

[blqbutterfly]

Definitely recon, my denials said the exact same thing....I finally bite the bullet called up on Monday and basically they made me explain why I have so much new credit why I have (3) inquiries on my TU...yada yada and I told them I am rebuilding I have a few other cards but I like your company your customer service is fantastic blah blah blah and they did it....that was two months ago for the Barclay Rewards, then this week i called up and asked for my CLI on my Apple same scenario....worked both times.

 

Just be honest and explain whatever it is they are questioning. Oh and if it helps I was scared of calling for fear of that big fat "NO" but it won't always be that way!

[united1998]

Im new to this forum ,I'm trying to rebuild my credit after a ch.13 ,completed in Dec 2013 any advice? also what's the best way to clear discrepancies on credit reports going fwd? Best credit cards to start with? Thanks.

[Mustard on Fries]

United, welcome to the forum. The main advice we give newbies is to go to the newbie forum and read, read, read. Theres hours worth of reading ahead of you before you can truly attack your credit.

 

Your first step is to get your actual credit reports, then read on how to understand them and the dispute process.

 

It doesn't matter how bad it is, you can always make it better!

 

Again, welcome.

Edited September 26, 2014 by Mustard on Fries

[blqbutterfly]

United, welcome to the forum. The main advice we give newbies is to go to the newbie forum and read, read, read. Theres hours worth of reading ahead of you before you can truly attack your credit.

 

Your first step is to get your actual credit reports, then read on how to understand them and the dispute process.

 

It doesn't matter how bad it is, you can always make it better!

 

Again, welcome.

 

+1

[ManofB]

Popped my recon cherry today

 

For anyone current or future that is debating recon, just do it. Especially with Barclay. She was sooooo nice and super friendly. 5 minutes.

 

She asked:

Income

About my $11k in CC balances- explained to her that $10k of that is a card I'm an AU on. My fiances card, we just used it for paying off our wedding venue, and we didn't get payment in before it reported. And the other $1k is the balance on my Jared card for the engagement ring. No interest for 12 months, so I wasn't pressing to get that paid off, though I have paid down in nice size chunks

 

That was it. 4 minutes of conversation, 3 minutes on hold.

 

She came back on the line, said she approved me for the US Air card at $5k (my personal highest so far) but couldn't approve me for the Rewards card. She was very helpful- she told me use the US Air card, they want to see usage and history on it, then to call back in 6-12 months and they would see about getting a CLI on the US Air, and approval on the Rewards.

 

I thought the US Air card had more difficult requirements, but I guess not. Either way, I'm not complaining. I'm in and she clued me on the steps to grow with them. Very happy camper right now.

 

This is the best validation of all my hard work in cleanup so far. I feel amazing. I'm not toy anymore, I'm on prime training wheels. As always, super huge thank you to this board.

[mendelssohn]

Nice job! Congrats!

[blqbutterfly]

Popped my recon cherry today

 

For anyone current or future that is debating recon, just do it. Especially with Barclay. She was sooooo nice and super friendly. 5 minutes.

 

She asked:

Income

About my $11k in CC balances- explained to her that $10k of that is a card I'm an AU on. My fiances card, we just used it for paying off our wedding venue, and we didn't get payment in before it reported. And the other $1k is the balance on my Jared card for the engagement ring. No interest for 12 months, so I wasn't pressing to get that paid off, though I have paid down in nice size chunks

 

That was it. 4 minutes of conversation, 3 minutes on hold.

 

She came back on the line, said she approved me for the US Air card at $5k (my personal highest so far) but couldn't approve me for the Rewards card. She was very helpful- she told me use the US Air card, they want to see usage and history on it, then to call back in 6-12 months and they would see about getting a CLI on the US Air, and approval on the Rewards.

 

I thought the US Air card had more difficult requirements, but I guess not. Either way, I'm not complaining. I'm in and she clued me on the steps to grow with them. Very happy camper right now.

 

This is the best validation of all my hard work in cleanup so far. I feel amazing. I'm not toy anymore, I'm on prime training wheels. As always, super huge thank you to this board.

 

Congrats....told ya.....they are very very nice....I'm so happy for and ooh congrats on the wedding too!!

[mizliz1011]

They were very nice with me. I got an approval, first unsecured card in 6 years, for $5K. She told me, wait until you get your email so that way what you have is in stone and they can't reverse it. So I waited a day.

 

Said I wanted Barclays because I go to England and it is chip and pin there and so is their card. That DBF's father had a stroke and we will be traveling more often over there and wanted to put air flights and spending on it to keep good records and that with airflight we would use too much per trip. that my other cards were $10K and up (secured btw) but I like barclays reward program.

 

Also brought up my mortgage issue, said why aren't you asking. told her about Countrywide and multiple sales of my mortgage and loss of deed and original note ... told her money is in escrow to pay off and that gave me an opportunity to bring up what is in bank.

 

BAM... doubled the line and I think that I could have asked for $15K. She really liked that I brought up the elephant in the living room. they are EXTREMELY nice.

could some one tell me exact diff between sallie mae barclays and arrival plus?

 

don't have student loans.

[whipster]

Sallie Mae has a decent monthly rewards structure for gas, amazon/bookstores, and restaurants. I don't have student loans with them either but you can use the rewards for statement credit.

[WambleAgley]

They were very nice with me. I got an approval, first unsecured card in 6 years, for $5K. She told me, wait until you get your email so that way what you have is in stone and they can't reverse it. So I waited a day.

 

 

Congrats! But waited a day for what? To request the CLI after initial approval?

Edited September 27, 2014 by WambleAgley

[ManofB]

I received the email within half an hour after my phone call with them

[MommaE]

Congrats on the recon!

 

I also had to recon my first card with them. 6 statements later a CLI and an instant approval on another Barclays card.

[BW1216]

Always recon Barclays. ALWAYS.

[popamode72]

I just went for the Sallie Mae card now that I've bumped off most of my inquiries (I think Transunion Plus started acting up funny today and saying that I needed to call them to have the counter reset, so I just decided to stop there, besides, I can live with 2 inquiries anyway on my TU report, one from last month and the other in June of this year) and my application status is actually pending. I remember trying Barclays before and my application then was denied on the spot immediately after making the application. Is that a good sign or at least is that normal for Barclays on weekends? Also froze my EX and EQ reports first so they wouldn't pull a fast one there.

Edited September 27, 2014 by popamode72

[cv91915]

 

Their denial reasons for Rewards:

Sufficient open lines of credit

 

 

I prefer to decide what's "sufficient," and my definition is very different from Barclays'!

[footballgirl]

I wonder if I should recon. I was approved for Barclay reward instantly. I tried for the Apple financing and was denied. Do you think I shouls?