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Grover627
Posts: 60
Registered: ‎07-04-2013
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Seeking new credit after Barclay approval

I have read by some on here that Barclay has a reputation of cancelling new accounts after learning that there have been applications for new credit. I was approved for Barclays Reward MC a few weeks ago, with a $1500 limit. I plan on using this as my gas card, keeping my limits low, and PIF each month. How long though, should I wait to apply for other cards, while keeping Barclays happy?

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Senior Contributor
myjourney
Posts: 26,602
Registered: ‎02-07-2013
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Re: Seeking new credit after Barclay approval


Grover627 wrote:

I have read by some on here that Barclay has a reputation of cancelling new accounts after learning that there have been applications for new credit. I was approved for Barclays Reward MC a few weeks ago, with a $1500 limit. I plan on using this as my gas card, keeping my limits low, and PIF each month. How long though, should I wait to apply for other cards, while keeping Barclays happy?


YMMV but i would say 5-6 months 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


New Contributor
Grover627
Posts: 60
Registered: ‎07-04-2013
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Re: Seeking new credit after Barclay approval

Should I also avoid asking for CLI with current cards during this wait?

Super Contributor
enharu
Posts: 6,984
Registered: ‎02-27-2013
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Re: Seeking new credit after Barclay approval

Don't worry about asking for CLIs. Go for it
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
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Senior Contributor
myjourney
Posts: 26,602
Registered: ‎02-07-2013
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Re: Seeking new credit after Barclay approval


Grover627 wrote:

Should I also avoid asking for CLI with current cards during this wait?


No seek as many as you wish I would just try and avoid the HP unless I thought it was a lender that gave BIG CLI's 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Established Contributor
emptypockets
Posts: 989
Registered: ‎02-03-2009
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Re: Seeking new credit after Barclay approval

In 9/12 and when I got my last card with Barclays, I got their card last (after I had opened 4-5 new cards in 6/12). They noticed the new cards, and warned me to not app for "awhile" to avoid adverse action. When I specifically asked what was "awhile" the CSR said 6 months. I waited, but that being said I think if you use their card and pay it on time, as you plan too you should be fine with them. They seem to like people who use their card regularly.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Nordstrom Visa,US Bank Cash+, Chase (5), Huntington Voice, UMB Visa, Nasa FCU Plat Cash Visa, Barclay's Visa, Citi (4), Discover IT, Walmart Discover, Sam's MC, Cabela's Visa, Cap One QS, BOA (2), BMW Visa, Comenity Visa/MC (3), Ebates Visa Siggy, 5/3 RLR MC, Macy's AMEX; Several store cards.

Current Scores: EQ (6/14): 800; TU MyFico (6/14): 814; Walmart TU Fico 08 (10/2014): 813; EX (6/14): 775
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Grover627
Posts: 60
Registered: ‎07-04-2013
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Re: Seeking new credit after Barclay approval

OK- One more ignorant question from me... I was considering applying for a store card or two. With my new Barclays card, should I put off doing that, or are store cards in a different catagory than other cards?

Contributor
withaspark
Posts: 80
Registered: ‎01-10-2013
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I Re: Seeking new credit after Barclay approval

[ Edited ]

As another Barclays data point, I applied for 4 cards in the 6 months before opening a CC acct with Barclays and two more at the same time that showed as open on my credit report the following two months and no AA. In fact, they bombarded me with offers for an obscene bonus for spending over $750/mo for 3 months. The only thing I can think of is that I made sure no cards reported any balance at the end of period but showed very large actual payment amounts (proved use but didn't let any balances post)...maybe even though they didn't like the new accounts...use with absolutely no CC debt is low risk. YMMV.

Established Contributor
KIPPIE12
Posts: 620
Registered: ‎05-09-2009
0

Re: I Re: Seeking new credit after Barclay approval

Some squeek through, some don't.  Why chance it, unless you really need another card?  Barclays gets nervous if they see new accounts opened after theirs. Think it through, and be careful.  They will watch what is going on with your reports for 6 months afterwards.

Current Score: EQ: 807 TU: 811 EX: 813 (Fico) 8/14
Goal Scores: 760 Across all 3-Finally


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