About one month ago we decided not to apply for a home equity loan (not HELOC which is home equity line of credit) at Bank of America, but a credit report request was already issued for both Isa and me.
Bank of America used Trans Union to check our credit scores. This is good, because rarely credit card pulls credit check from Trans Union. Both of us are active users of our Barclay Arrival credit cards. The report shows my credit score is 797 and Isa's is 731.
The scores match exactly what are shown in my Barclay card account's FICO tool section and Isa's,
whereas my CreditKarma report shows an incorrect estimated credit score.
I like reliability. This would be a great benefit of being a Barclay Arrival card holder. Bank of America Home Equity Loan agent said premier loan rate requires the applicant to have at least a credit score of 720. I was not sure about Isa's, but I will no longer be in doubt about Isa's credit score, as she now holds a fee-free version of Barclay Arrival MasterCard. I will simply refer to the credit score tool of her Barclay account. As Barclay draws a hard pull for each Barclay credit card application, Isa will keep the no-fee Barclay card. I will request downgrade to the no-fee version when time is up. I have shared about the pros and cons of both elite and non-elite Barclay Arrival credit cards.
Chip and PIN Protection
A colleague who is a summer intern is about to travel to UK to pursue her college degree. Her father applied for his Barclay Arrival Elite MasterCard and added her as an authorized card user, with first year membership fee waived. He prefers Barclay Arrival Elite Mastercard over Chase Sapphire Preferred card, because of the Chip and PIN protection offered by Barclay Arrival Elite card. I am glad that I was able to share with her various credit card benefits.
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