Question
Denied Credit Card recieved Too few accounts with sufficient satisfactory performance?
I tried to get an Apple credit card through Barclay's to purchase a new machine for my daughter for christmas. They are offering 0% financing for 12 months. When i submited my application i got this: Too few accounts with sufficient satisfactory performance I pulled my credit report and i do not see anything that would not allow me to get the card. I own my own home, one credit card and two cars, and have never missed a payment in my life. Our house hold income is 135k. What would be the reasons for this to come back as it did? My one card is a discover card and i use it to pay all bills and purchases every month. I pay it in full each month after i get the points. The house has a morgage from wachovia, and both cars are financed. So at the moment i have 4 open lines of credit that are payed every month and have been for the past few years. As for the ask Barclay response... i did .. that was the first thing i did and they told me "sorry" we do not have details about why you were rejected. You can go look at your own credit report though! lol..
4 weeks ago - 3 answers
Best Answer
Chosen by Asker
Depends on how you paid for the house and cars - did you or do you have a mortgage...did you are are you using credit/loans to buy the cars? If the answer is no, then the decision is being made based on the one credit card you have and given the fact that many banks are tightening up their credit card lending policies due to the new consumer credit protection laws, that would be the reason for the "too few accounts" declaration...you just don't have enough recent credit history. This also may be the reason if you had car loans and a mortgage but they were paid off some time ago.
by Steve D
4 weeks ago
Asker's Rating: 
Other Answers
I have a great idea...ASK BARCLAY. THEY rejected you remember.
by Ryan M- 4 weeks ago
Let me say it in English for you. They mean you don't have enough credit history. The problem is your ONE credit card and zero other open lines of credit. If you can't even qualify for store credit, you've got a major problem. I'm betting you just about never use that one credit card either, right? They want to see a history of paying bills on time. If you never use it and/or you've only got one line of credit, it's not showing much. Get another card, ASAP.
by Gabriel- 4 weeks ago