Approved for Barclaycard Rewards Master Card

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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DeeJay8385
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Approved for Barclaycard Rewards Master Card

Postby DeeJay8385 » Thu Jan 23, 2014 7:29 pm

Hey Forum,
Two days ago, I received a preselected offer in the mail from Barclaycard and I was shocked to receive one because I was tempted to apply in the past. Anywho, the offer is for their Mastercard rewards where I earn 2 points per $1 on gas, grocery and utility and 1 point per $1 on purchases everywhere else. The rewards were okay but I still applied anyway. I was approved for $2000 making this the first CC I have with a high limit. Though my AMEX BCE and Discover IT CC has better rewards, it's good for me to rotate between the 3 credits that I'll start using. Does anyone have a barclaycard that they like using??

Also, last month, I received an auto CLI on my Discover IT card to $1900. Woohoo. Now, I'm waiting to do my 3x CLI increase on Saturday with AMEX since I was denied the first time. Wish me luck
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14


luvbullmarkets
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Postby luvbullmarkets » Thu Jan 23, 2014 7:41 pm

Congrats.

I just applied for the Barclaycard Arrival World Mastercard last night. Was instantly approved with a CL of $10K.

Can't wait to get my first "black" card in the mail.
Amex PRG, Amex EveryDay, Amex BCE, Barclaycard Arrival, CSP, Chase Freedom, Discover it, Wells Fargo Propel 365 Amex, Wells Fargo Visa Signature

"Attack this day with a level of enthusiasm unknown to mankind." - Jack Harbaugh

DeeJay8385
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Location: Las Vegas

Postby DeeJay8385 » Thu Jan 23, 2014 7:52 pm

How can I get my credit limits that high? I know I'm onto a great start. My utilization is under 18%. It took me about 3 years to get my credit right and that's when the offers started coming.

luvbullmarkets wrote:Congrats.

I just applied for the Barclaycard Arrival World Mastercard last night. Was instantly approved with a CL of $10K.

Can't wait to get my first "black" card in the mail.
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14

daniel2304
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Location: Dallas

Postby daniel2304 » Thu Jan 23, 2014 8:02 pm

Just curious why don't you close the secured card? It has annual fee and no reward. And it's been 3 years but why your credit score is still below 700? With that kind of time along with good management, your score should be higher than that.
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

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otter
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Postby otter » Thu Jan 23, 2014 8:30 pm

daniel2304 wrote:Just curious why don't you close the secured card? It has annual fee and no reward. And it's been 3 years but why your credit score is still below 700? With that kind of time along with good management, your score should be higher than that.


I just started the process of closing my two secured cards these past two days and it is almost like a load was lifted from my back, honestly. My thought was "I have $20,000+ available credit, cards by prime issuers, and a card with a $10,000 limit. Why do I still have two $300 secured cards when I really don't need them. So I applied for unsecured cards from both issuers (WF and BoA). One I was approved for($4500) the other denied me(and will lose all my business).

My thought is... if your credit profile changes quickly and you don't need secured cards anymore- ditch them. Why let a bank keep your money interest free and charge an annual fee when you don't need it? Don't wait for graduation if you don't need to (and in OP's case... it will never graduate).
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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otter
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Postby otter » Thu Jan 23, 2014 8:56 pm

DeeJay8385 wrote:How can I get my credit limits that high? I know I'm onto a great start. My utilization is under 18%. It took me about 3 years to get my credit right and that's when the offers started coming.


You're probably closer than you think... I hate making comparisons because comparing one person's credit situation with another person's situation is like comparing apples to oranges. We all have different incomes, baddies, FICO's, utilization, etc so read the comparison I'm about to make with caution.

Anyway looking at where I was around October of last year, I had three of the same cards you do: Discover IT, BCE, and Barclaycard Rewards. We both had similar initial limits- actually yours was higher on two of the three. Once again, although we are all different, it does show that two of the three issuers we both had in common were willing to give you more than they were willing to give me. So although we have different profiles (and some issuers who would decline me would approve you and vice versa)... it's a good bet that many would give you the same or similar credit line they gave me.

So my advice is to pick cards whose rewards and rates match your spending and pick issuers who give generous CL's and who you can grow with- which is why I said in my previous post that you should close Cap One because Cap one will not grow with you. You might want to try some GE cards if you can. I've found the Pay Pal card to have decent rewards(for restaurants at least) and your limit will grow quickly. The OCCU Duck Card is another possibility- that was my first $10000 card although it would be wise to get your FICO up to 700 first. The Barclaycard Rewards was a good choice though. I'm about to close mine and rollover the CL into my new Sallie Mae card, but that's all because it matches my spending well. I have nothing bad to say about the Barclaycard Rewards card.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

daniel2304
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Postby daniel2304 » Thu Jan 23, 2014 9:51 pm

otter wrote:I just started the process of closing my two secured cards these past two days and it is almost like a load was lifted from my back, honestly. My thought was "I have $20,000+ available credit, cards by prime issuers, and a card with a $10,000 limit. Why do I still have two $300 secured cards when I really don't need them. So I applied for unsecured cards from both issuers (WF and BoA). One I was approved for($4500) the other denied me(and will lose all my business).

My thought is... if your credit profile changes quickly and you don't need secured cards anymore- ditch them. Why let a bank keep your money interest free and charge an annual fee when you don't need it? Don't wait for graduation if you don't need to (and in OP's case... it will never graduate).


That's why I asked him. And the longer he holds onto it, the more impact it will make when he closes it. Unless he wants to keep it for life, which is....
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

DeeJay8385
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Postby DeeJay8385 » Thu Jan 23, 2014 11:09 pm

My cap one secured card is the one I have the most history with and the other 5 cards were opened last year. IIRC, I read somewhere that you should keep your oldest card open and not to close as it may lower your credit score. I'm not sure why my scores not in the 700's bc I have paid all my credit bills 100% ON-TIME. Also I have only 7 hard inquiries on my report. My last collection item was paid off in 2011 and that's how I was able to receive my secured credit card.
With that being said, do you think that my secured cc through capital one is holding me back from having my scores in the 700's? Also according to my free credit reports from Discover, my CS is 667TU and AMEX was 687 TU

daniel2304 wrote:Just curious why don't you close the secured card? It has annual fee and no reward. And it's been 3 years but why your credit score is still below 700? With that kind of time along with good management, your score should be higher than that.
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14

DeeJay8385
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Postby DeeJay8385 » Thu Jan 23, 2014 11:14 pm

I definitely see your point. What confuses me is that I've had the secured card for almost 3 years. Now if I were to close it and use the cards that I have with no AF, do you think by me close out my oldest card would harm my score or boost it?

otter wrote:I just started the process of closing my two secured cards these past two days and it is almost like a load was lifted from my back, honestly. My thought was "I have $20,000+ available credit, cards by prime issuers, and a card with a $10,000 limit. Why do I still have two $300 secured cards when I really don't need them. So I applied for unsecured cards from both issuers (WF and BoA). One I was approved for($4500) the other denied me(and will lose all my business).

My thought is... if your credit profile changes quickly and you don't need secured cards anymore- ditch them. Why let a bank keep your money interest free and charge an annual fee when you don't need it? Don't wait for graduation if you don't need to (and in OP's case... it will never graduate).
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14

daniel2304
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Location: Dallas

Postby daniel2304 » Thu Jan 23, 2014 11:21 pm

Eventually you need to close it if you do not want to pay annual fee. Sooner is better than later. When you drop it, the card that you open after that will become your oldest card. Also, if you close it on good standing, it will appear on your credit report for a long time.

I think your credit score is low maybe because you opened too many cards in a short period of time and with short history of credit. You should try the 3X CLI of Amex because it already past 60 days.
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.



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