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New credit after being approved for a Barclaycard?

tag
HiLine
Blogger

Re: New credit after being approved for a Barclaycard?

As usual, the closing accounts due to the subsequent appearance of too many credit accounts story is blown way out of proportion. Same goes for Amex. Robot wink

Message 11 of 32
DigitalArk
Valued Contributor

Re: New credit after being approved for a Barclaycard?

I acquired 6 new revolving accounts within half a year before getting my arrival card. Does it count? Smiley Indifferent

Message 12 of 32
curranam
Member

Re: New credit after being approved for a Barclaycard?

I was happy to see this post, my husband was just approved for Barclaycard yesterday and also got approved for Chase Freedom. They have both posted on the TU report. We have read the stories of Barclaycard closing accounts if you get anything new.  Hopefully this doesn't happen. 

Message 13 of 32
Jess21
Frequent Contributor

Re: New credit after being approved for a Barclaycard?

we'll seee, i have also been a little worried about this because i just got my Barclays rewards and the next day i got 3 more CC and a lot higer CL  on all of themthan Barclays (I pretty much begged Barclays gor approval, it took me 2 recon calls).  I hope they do not close anything.  I PIF always.

Equifax: 676 (myfico) Experian: 683(myfico) TransUnion: 689 (Barclays)

Current Goal: 700
Message 14 of 32
meehan22
Frequent Contributor

Re: New credit after being approved for a Barclaycard?

I've pushed my luck I think. Approved middle of March, got approved next day for walmart and paypal. Than I was added as a AU on my girlfriends Chase Freedom card. And yesterday I applied for an installment loan from my Credit Union for a payoff on a vehicle.. if approved that'll be 4 accounts in just over a month after being approved by Barclay. Didn't need the loan but I have zero relationship with them besides my checking and saving accounts. They also offer CC's as low as 3.4%, so if approved for the installment loan I will for sure ask about an APR on a credit card. 

 

But i've also ran a few grand through Barclay and pif nearly weekly in the last month since having the card. And my other CC's are at 0 balance, if they were to close me than piss on them i'll give my transaction fee's to another company. haha.  


Wallet: Chase $6,000 - Discover $1,500 - Walmart $2,200 - Voyage FCU $1,300 - Zales $2,300 - Elan Fin: $12,500(AU, reporting) - Chase $8,500 (AU, reporting) 1% UTL
Message 15 of 32
AzaleaB
Established Contributor

Re: New credit after being approved for a Barclaycard?

My experience has also been positive. I got my Barclays card with a CL of $1300 and in six months added six new credit cards. I was approved for another Barclays card almost right at the six month mark for $5000. I think people with negative experiences are more likely to post than those who were okay. That said, I put healthy spend on my Barclays cards, PIF mostly but occasionally leave a small balance after the statement cuts to keep them happy.

Starting Score: EX:570, 8/2011
Current
Scores(8/30/18):
EX08:850; EQ08:850,
TU08:847
Inqs(12 mo): EX/0, EQ/0, TU/0
Goal Scores: 800+
My Cards: BoA Rewards: 30K, Discover IT: 50K, Arrival : 13.3K, CDP: 30.1K, Amex PRG, Amex ED: 22.5K, Amex BCP: 20K, FU: 21K, CSR: 35K, Amazon Store: 20K, Macys:10K, Diners Club:40K
Message 16 of 32
Dw4250
Valued Contributor

Re: New credit after being approved for a Barclaycard?

Ahhh yes, the dreaded "Barclay's Boogieman"...lol!

 

Here's the problem with the 'stories' some post on here and other boards about Barclay's AA/CLDing them:  People howl at the moon about how Barclay's screwed them over, but leave out some very important details about why the AA/CLD action was taken (i.e. failure to pay; failure to use the card; manufactured spending; recent major derog pops up on their CR, violating other terms and conditions).  Sure I guess if you went out and applied for 15 cards and 5 LOC in a month, that's going to raise some red flags with Barclay's.  But it would (and should) raise flags with every other bank too.

 

Think about from Barclay's POV...a customer who uses their credit product responsibly and pays their bills...why on earth would they shut out a customer like that???  And let that customer leave in order to enrich a rival bank? Even stuffy bankers from London aren't that brain dead Smiley LOL

 

OP, don't sweat it.  As long as you use the card regularly, pay your bill (on time), and aren't applying for 20 new cards this month, you have little to fear from Barclay's (or any other creditor for that matter).  Go apply for another card (or two) if you need them, live life and enjoy the nice weather. 

 

BTW I got my Sallie Mae (Barclay) at the end of an app spree, have added two more cards since then, and have lived to tell the tale! Smiley Wink

Message 17 of 32
meehan22
Frequent Contributor

Re: New credit after being approved for a Barclaycard?

^^ Exactly my thought. At first I was afraid about it. But if they AA me after running a lot of money and pif'ing than thats a bank I dont want to do business with. Smiley Happy 

Adding 5 accounts potentially within a month after being approved from there is a little sketchy, but reviewing my credit will see 0 balances on them too while they are still my everyday card. haha. if they dont want me, someone else will! 


Wallet: Chase $6,000 - Discover $1,500 - Walmart $2,200 - Voyage FCU $1,300 - Zales $2,300 - Elan Fin: $12,500(AU, reporting) - Chase $8,500 (AU, reporting) 1% UTL
Message 18 of 32
lg8302ch
Senior Contributor

Re: New credit after being approved for a Barclaycard?


@DigitalArk wrote:

I acquired 6 new revolving accounts within half a year before getting my arrival card. Does it count? Smiley Indifferent


Exacte same experience here....hit a cold app to test if Barclays is really new account sensitive and to my big surprise I got approved for the Arrival WMC with a nice limit after getting 6 new account out of 8 account in total. It is YMMV I guess Smiley Happy

Message 19 of 32
meehan22
Frequent Contributor

Re: New credit after being approved for a Barclaycard?


@lg8302ch wrote:

@DigitalArk wrote:

I acquired 6 new revolving accounts within half a year before getting my arrival card. Does it count? Smiley Indifferent


Exacte same experience here....hit a cold app to test if Barclays is really new account sensitive and to my big surprise I got approved for the Arrival WMC with a nice limit after getting 6 new account out of 8 account in total. It is YMMV I guess Smiley Happy


 

Did you wait 6 months? I think I may do the same down the road. 


Wallet: Chase $6,000 - Discover $1,500 - Walmart $2,200 - Voyage FCU $1,300 - Zales $2,300 - Elan Fin: $12,500(AU, reporting) - Chase $8,500 (AU, reporting) 1% UTL
Message 20 of 32
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