Originally Posted by
MaxVO
"Declined" means declined. It will follow in a week with a written explanation. They now seem to decline without a hard pull, if the reason is hitting their limit for this one product.
I'm only curious now if that limit is one hard number, or some kind of a formula involving the velocity of apps as well.
Didn't consider them having declined me without a hard pull. I had closed the + a couple of months ago, never churned them too soon in the past, applied about a month ago (so just about a month aft closing) and got auto-declined, called then and confirmed it was without a hard pull and the reason was having had the + up until too recently. Being that this app now showed pending, figured they might have pulled credit but didn't get a notification from Credit Karma yet (cap one tracking after app updated today and doesn't show Transunion hardpull either), so perhaps they didn't pull.
Now I am curious whether the previous app (auto-declined) might have somehow reset some kind of auto-denial clock by tripping what you suspect is another component: app velocity. I've seen recent data points on people having successfully churned the + after a couple of months even with a high nr of recent apps in the last year, so this coupled with not many new accounts for me in the last year + pretty good fico score makes me believe the recent app did me in. Perhaps they added the app velocity component to their system to weed out us/churners.
I was going to call recon, but really wanted to try to get two of their cards with one pull so perhaps will move on to some other cards and try in a few months. At that time there will be more new accounts, which is something they don't like, but yeah it seems I've hit some kind of Barclays wall.