0% chance of getting Barclaycard Rewards Visa ??

Malkytheheed

NoodleDoodleMan said:

Malkytheheed said:

Hi, just to conclude this. Thanks for all the tips. I did an eligibility checker directly on the barclaycard website and it say I would be accepted but a limit of only £1200. I tried the eligibility checker on Halifax (clarity) and it said I would be accepted with a limit of £17000, so I have go.

ne with that. Thanks for help. 

Why not go for both - the Reward card won't incur interest at ATMs for currency and will give cashback ?

Use the Clarity if/when you reach the credit limit, goods and and services.

Best of both worlds.

No intention of taking out cash. My Aqua card already gives me 0.5% cashback with the same limit Barlaycard offered me so no point really. 

Marchitiello

cymruchris said:

MalMonroe said:

"I'm currently travelling with my Aqua card but it's just dire, the limit is only a couple of grand and I'm constantly throwing money at it to bring the balance down so I can use it again."   

- I think the reason you received such a negative response from Barclaycard was because an Aqua credit card is usually used by those who have had bad credit who use it to improve their credit reports

Happy to be corrected if wrong - but my understanding is that a financial institution checking your report cannot see who the lenders that you currently have accounts with are. They wouldn't know if it was Aqua (Newday), Capital One, Vanquis, Amex, HSBC or any other card provider. They can only see the time you've had your accounts and your payment/balance/limit history. It could be 'guessed' that if you have a card with a £500 limit it's likely going to be a credit builder - and if you have a card with a £10k limit, it's likely to be towards the upper end of the market, but that's as far as it goes. So having an Aqua card in itself isn't something that would deter other credit providers, as they'd not know you had one. 

Not impression, 100% accurate from speaking to underwriters directly at two different banks. They could not even associate the reports to their own account.

dr_adidas01

MalMonroe said:

Malkytheheed said:

Hi, just to conclude this. Thanks for all the tips. I did an eligibility checker directly on the barclaycard website and it say I would be accepted but a limit of only £1200. I tried the eligibility checker on Halifax (clarity) and it said I would be accepted with a limit of £17000, so I have gone with that. Thanks for help. 

Hi, just to ask if the Halifax clarity card limit is really £17,000? Have you actually been accepted for that card? As cymruchris says above, that is quite a disparity.

It's just that you said this in your OP, way back at the beginning of July -

"I'm currently travelling with my Aqua card but it's just dire, the limit is only a couple of grand and I'm constantly throwing money at it to bring the balance down so I can use it again."   

- I think the reason you received such a negative response from Barclaycard was because an Aqua credit card is usually used by those who have had bad credit who use it to improve their credit reports (I was accepted for a similar 'Ocean' card by Capital One when I came out of my DRO a few years ago and gradually moved up to a 'proper' Capital One CC after I proved myself capable of managing well. I've now left them behind and have three more 'respected' credit cards.) 

As you say, the Aqua limit is low. But if lenders see you have been using the Aqua for a while - three years is quite a while - they will assume you have been in, and still are in, financial trouble. You say you bring the balance down so you can use it again - not that you clear the balance. That's another red flag to lenders. I know it sounds extremely dopy but it took me a long time to understand the significance of Martin Lewis' mantra 'clear the balance in full, every month'.  

I do hope you manage to get the card you want.

Utterly wrong again lenders don't see who provides your credit cards, as when they check your report they don't see the credit providers name.  What they do see is when the account was opened, the name and address associated with the account the credit limit and if the card is on a promotional offer. They also see if you pay on time how much you pay i.e. In full, partially or minimum payment, and how long the account has been opened.

You might think and this is why the OP got a negative response from Barclaycard but it isn't.  You have to remember that Barclaycard have been slashing peoples limits left right and centre at the moment. They could have simply decided that's the limit they feel comfortable giving to the OP for what ever reason.

What is a respected credit card? Perhaps Amex might be though these days it seems most people have one, compared to when I first got mine and it was considered fancy to have one. Perhaps the only respected card these days is the Amex Centurion card, which I'm guessing you don't have!!

I still have my first credit card which was a Capital One card it started of with a £200 limit and after a few years it went to £6K, I keep it and use it from time to time as its one of my oldest credit accounts and it hasn't done me any harm when applying for other credit products.

I'm pretty sure that the OP means when they bring the balance down, they mean pay it off so they can use the full credit limit again, then pay that off in full.

Martin Lewis's mantra is always pay your credit card balance in full.... Which I and many others on this forum whole hardheartedly agree with. It doesn't mean you cant part pay your balance before your statement is produced or even pay off what you've used so that you can use your credit card limit again.

cymruchris

Malkytheheed said:

cymruchris said:

Malkytheheed said:

Hi, just to conclude this. Thanks for all the tips. I did an eligibility checker directly on the barclaycard website and it say I would be accepted but a limit of only £1200. I tried the eligibility checker on Halifax (clarity) and it said I would be accepted with a limit of £17000, so I have gone with that. Thanks for help. 

That's quite a disparity in the credit limit offerings. (Was the Barclaycard an actual offer of £1200? Or were they showing you the nonsense piece of legislation that shows that the credit would cost at an assumed limit of £1200?)

It was the actual offering as per the eligibility checker. As far as I could tell it was "you will be accepted for this card with this limit". 

I did full application with Halifax and got the £17K as suggested. 

That's really quite a staggering difference between two providers. It must be that for whatever reason your history doesn't match the profile of the customer Barclays wants, but Halifax (who I think are a little pickier in general) thinks you're a safe pair of hands to get quite a generous initial credit limit of that size. The only advantage I can see of the BC Rewards over the clarity - is that cash withdrawals overseas don't incur interest until the statement date, and with clarity you start paying interest the same day (albeit a few pence if you pay it off immediately). Both are pretty decent cards in the grand scheme of things though, so I'm sure you'll get the benefits when you're off exploring overseas. Sadly neither will help you with the monstrous queues at the airports or the channel tunnel though

Malkytheheed

cymruchris said:

Malkytheheed said:

cymruchris said:

Malkytheheed said:

Hi, just to conclude this. Thanks for all the tips. I did an eligibility checker directly on the barclaycard website and it say I would be accepted but a limit of only £1200. I tried the eligibility checker on Halifax (clarity) and it said I would be accepted with a limit of £17000, so I have gone with that. Thanks for help. 

That's quite a disparity in the credit limit offerings. (Was the Barclaycard an actual offer of £1200? Or were they showing you the nonsense piece of legislation that shows that the credit would cost at an assumed limit of £1200?)

It was the actual offering as per the eligibility checker. As far as I could tell it was "you will be accepted for this card with this limit". 

I did full application with Halifax and got the £17K as suggested. 

That's really quite a staggering difference between two providers. It must be that for whatever reason your history doesn't match the profile of the customer Barclays wants, but Halifax (who I think are a little pickier in general) thinks you're a safe pair of hands to get quite a generous initial credit limit of that size. The only advantage I can see of the BC Rewards over the clarity - is that cash withdrawals overseas don't incur interest until the statement date, and with clarity you start paying interest the same day (albeit a few pence if you pay it off immediately). Both are pretty decent cards in the grand scheme of things though, so I'm sure you'll get the benefits when you're off exploring overseas. Sadly neither will help you with the monstrous queues at the airports or the channel tunnel though

I bank with BOS (Halifax) and previously had a mortgage with them. Maybe this all helps? Not sure. But yeah Clarity will serve a purpose. 

[Deleted User]

Malkytheheed said:

MalMonroe said:

Malkytheheed said:

Hi, just to conclude this. Thanks for all the tips. I did an eligibility checker directly on the barclaycard website and it say I would be accepted but a limit of only £1200. I tried the eligibility checker on Halifax (clarity) and it said I would be accepted with a limit of £17000, so I have gone with that. Thanks for help. 

- I think the reason you received such a negative response from Barclaycard was because an Aqua credit card is usually used by those who have had bad credit who use it to improve their credit reports (I was accepted for a similar 'Ocean' card by Capital One when I came out of my DRO a few years ago and gradually moved up to a 'proper' Capital One CC after I proved myself capable of managing well. I've now left them behind and have three more 'respected' credit cards.) 

As you say, the Aqua limit is low. But if lenders see you have been using the Aqua for a while - three years is quite a while - they will assume you have been in, and still are in, financial trouble. You say you bring the balance down so you can use it again - not that you clear the balance. That's another red flag to lenders. I know it sounds extremely dopy but it took me a long time to understand the significance of Martin Lewis' mantra 'clear the balance in full, every month'.  

I do hope you manage to get the card you want.

Bit confused by this? I got the Aqua card because it offered 0.5% cashback and fee free travel use. What other card offers that? Nothing to do with being a "bad credit" card? (I didn't even know it was such a thing). I'm not in finnancial trouble or have been. I'm really taken aback by you saying that lenders will assume I have been in finnancial trouble because I choose a credit card with the best offering? I plan to still keep the card for small purchases abroad because no other card offers me fee free AND 0.5% cashback.  

As for bringing the balance down so I can use it again, how is this another red flag? I do clear my balance in full every month, always. But If I spend £1000 of a £1200 limit on say July 12th. If I want to spend more than £200 in the next 4 weeks I have to manaually pay off the £1000 first. 

As above, I was accepted (full application) for the Clarity card with the £17K limit. It's arriving soon. 
Barclay card eligibility checker said I would be accepter with a £1200 limit. So I didn't take it. 

Don't worry, the person you replied to has a reputation of giving slightly odd "advice" which is often wrong or based on a complete lack of understanding of the real world. Aqua is a "sub prime" card aimed at people with poor credit history (like Vanquis, Cap one etc) but if they offer something great like top rate cashback then anyone with sense would take it prime or not. Lenders don't see your card issuer.

The only thing I can think with BC is that it was only a representative rate (as they all quote £1200) and they couldn't tell you what you'd actually get for whatever reason

NoodleDoodleMan

Malkytheheed said:

NoodleDoodleMan said:

Malkytheheed said:

Hi, just to conclude this. Thanks for all the tips. I did an eligibility checker directly on the barclaycard website and it say I would be accepted but a limit of only £1200. I tried the eligibility checker on Halifax (clarity) and it said I would be accepted with a limit of £17000, so I have go.

ne with that. Thanks for help. 

Why not go for both - the Reward card won't incur interest at ATMs for currency and will give cashback ?

Use the Clarity if/when you reach the credit limit, goods and and services.

Best of both worlds.

No intention of taking out cash. My Aqua card already gives me 0.5% cashback with the same limit Barlaycard offered me so no point really. 

That's a fair one.

TOP_CAT

, and with clarity you start paying interest the same day (albeit a few pence if you pay it off immediately)

Regards this bit below
(albeit a few pence if you pay it off immediately)

I dont believe you can stop the cash advance interest clock ticking on the Clarity card anymore since around 2017/18.
Its been awhile but from memory they changed the T&C,s

I vaguely remember I used a work around of not setting up a direct debit but just cant recall the exact devil in the detail after they made new T&C,s .
The new changes were a pain as previously since its launch you could pay off all transactions as you went  and/or run a positive balance to limit any cash advance interest to pence. 

I used it alot from around 2010 thru 2018 over two and three month long trips so cash advance interest was a issue in my case.
It was the best card up until 2017/18 though .