Does Barclays have 5/24 rule?

[Anonymous]

On another of my posts asking for app advice on a Barclays product, someone responded that Barclays now may have a 5/24 rule. I hadn’t seen reports of that previously...does this seem to be a thing now with Barclays?

[FinStar]

Their UW criteria and standards seem to have tightened up. However, there hasn't been anything that officially states a 5/24 "rule" as with Chase, for example. That being said, individuals have cited a combination of excessive number of inquiries and/or new accounts within a span of 6-12 months or so. Of course, it's all profile specific so YEMV.

Even reconsideration channels do not yield fruitful outcomes for the majority.

Capital One has also shown similar trends with some of their CCs (Venture, Savor, etc.).

[red259]

I got a barclays card awhile back and was over 5/24 at the time. That being said barclays as always been touchy about a lot of recent inquiries.

[zerofire]

Barclaycard is a rather sensitive lender. They are not as brick wall as Chase with the 5/24 but you can safely say if they are concerned about your viability they will happilly cut their losses without thinking twice. If they see lots of unexplained inquiries with short average age of accounts or even lack of repayment guarentee they will get squeemish.

Only Chase has 5/24.

[coldfusion]

There are reports that within the last few months Barclay has implemented an unadvertised/unofficial 6/24 policy.

[Sharingan]

I have contended that being able to institute a hard wall, inflexible 5/24 rule is a luxury that very few banks, namely Chase, could succeed with. Regardless, for as long as I can remember, Barclays has always been averse to recent or new accounts at their discretion, and I really don’t even think people would be tagging it as an “x/24 rule” if not for Chase. So no, I don’t think it’s exactly new. “Too many recent accounts” without any further elaboration has always been a valid reason for any bank to decline an application.

My most recent Barclays credit card was the Aviator Business card not too long ago with slightly over 5/24. It was an instant approval.

[Anonymous]

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@red259 wrote:

I got a barclays card awhile back and was over 5/24 at the time. That being said barclays as always been touchy about a lot of recent inquiries.

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Same here. Got my Uber Visa in june and was way over 5/24. 

[shiftomnimega]

I was at around 3/24 when I got the Uber.  Pretty sure I had around 5 inquiries, though.

[staticvoidmain]

No. According to this article, they might have something similar only on certain card/s (namely, Arrival).

Barclays just thinks it is special. I agree with the responses above. For some reason, Barclays thinks it is Chase which can afford to implement a hard wall. And because they are stingy, and generally hard to deal with, it is easy to dismiss a denial as as an x/24 rule.

[Anonymous]

They laughed at me when I tried. They are definitely inq and new account sensitive. I’ll crack that shell eventually.