Advise on applying a 2nd Barclays card in short time

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nvtech
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Advise on applying a 2nd Barclays card in short time

Postby nvtech » Fri Apr 26, 2013 2:10 pm

Guys,

2 days back, I have applied for a Priceline visa and got it approved after calling reconsideration line.
I want to apply for the US Airways card now.

A little background about my current credit.
Credit Karma shows my Transunion score as 789. Have a 20k BT on one of my card which I took 1 yr back and I am yet to pay it off in 3 months from now.

Initially when I applied for Priceline Visa, it was rejected. When I called the reconsideration line, I was specifically asked for what I used the BT on my other card.
The lady also asked if I took the BT to pay off all my other cards.
I told them that I took a 0% APR BT for 21 months and I used it for investing in Stocks.
I also told them I am planning to pay off the entire balance in the next 3 months.

Should I wait till I payoff the entire amount or can I take a chance with Barclays agian?

Please share your opinion.


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Z06Biker
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Postby Z06Biker » Fri Apr 26, 2013 4:01 pm

Not sure how you used a credit line to invest in stocks, but I sure hope your ROI is earning what you'll need to pay back your initial market buys, and then some.

Based on your excellent TU score, I think you'd be a good candidate for another card of theirs. Barclays is notorious for being finicky about carrying multiple cards, but it's also hard to argue with a 789.
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
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Barclaycard Arrival World Mastercard
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nvtech
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Postby nvtech » Fri Apr 26, 2013 4:26 pm

I never took a BT before but I got tempted to take one and I am glad with the market turnover, I did some decent ROI excluding all the fees and taxes. I am yet to sell my positions soon.

With US Air, I am just trying to get the bonus miles and for future use with American.

I got approved for 10k on priceline..Worst case will they be able to split my credit line if not approved?

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Z06Biker
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Postby Z06Biker » Fri Apr 26, 2013 4:42 pm

That would be one scenario - if they deny you because they feel $10K is plenty for you, then yes, you can ask about splitting the credit lines and opening up the U.S. Airways card. However, if they deny you for any plethora of their other reasons, then it's up to your powers of persuasion.
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard

nvtech
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Location: USA/North Carolina

Postby nvtech » Fri Apr 26, 2013 4:53 pm

Z06Biker wrote:That would be one scenario - if they deny you because they feel $10K is plenty for you, then yes, you can ask about splitting the credit lines and opening up the U.S. Airways card. However, if they deny you for any plethora of their other reasons, then it's up to your powers of persuasion.


Will there be any use calling the Credit Analyst before hand and seek an opinion about applying for an other card?
Given any optimistic feedback..how would it be if I apply right in the same call and seek a review ;-)...
Will this help ?

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Z06Biker
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Postby Z06Biker » Fri Apr 26, 2013 7:21 pm

They're prohibited from giving you any legal or financial advice. Whether to apply or not is your choice alone. They cannot "hint hint" to you about your credit score and what you'd be likely to be approved for. I wish they could, but they can't.
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard



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