Does Barclays have 5/24 rule?

[FinStar]

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

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Just to reiterate, it is more profile specific than anything.  I had several new accounts and inquiries reporting and had no issue getting approved instantly for the Aviator CC last time. Since it's all based on algorithms, some individuals may still get approved while others will not.

[jdbkiang]

I’ve seen data for a lot of the denials that have been for “too many accounts opened in the last 24 months,” so I feel like there could be some sort of x/24 rule for certain cards, maybe combined with a certain amount of inquiries. It’s just a matter of finding out how many is too many. When I got denied for a recent barclaycard and I called into recon, the agent got surprisingly irritated when I asked her how many was too many for 24 months, not unlike the typical chase CSR response when posed with similar questions.

[FinStar]

Again, it's all profile specific since there's lots of DPs that point otherwise. So, before we delve into absolutes, it's important to note that not everyone whose profile may contain X number of new accounts or X number of inquiries (or combination thereof) will be declined.

Unfortunately, I don't believe Barclay's analysts are going to explicitly state... "Yes ,its definitely 5 for sure...oh wait I think it's 6...". Their algorithms have that built internally and it's likely they're more selective on who they want to acquire as a new accountholder.

[Anonymous]

I got declined on the Wyndham.  I only had 1 inquiry in the last 12 months on Transunion at the time. And had 1 new card in 2018 at the time.  Which was a couple of months ago.  Reason given was the number of accounts opened in the last 24 months. I did get approved for an Aviator Business card a month or so before. So it doesn't apply to all cards. But other sources point to the Wyndham and the Arrival Plus being 6/24.  

[jdbkiang]

Yes, I agree, it’s definitely not an absolute, and as always YMMV. Just wanted to note that more and more people have gotten that 24 month reason for denial. The 6/24 “soft rule” has been seen on a couple of other sites as well.

[CreditCuriosity]

I am um like 30/24 and had no problem getting the UBER or the Aviator or business Aviator..  So certainly not a hard set rule.. With that said their might be some type of rule on the Arrival+ card as seen a slew of denials with very well established profile enough to keep me from going for the bonus on that particular card or trying for it.  Can't say or not that is a hard rule of 6/24 or whatever or profile specific with any certainty.  Also have had many other Barclay cards in the past that I have opened such as Sallie mae, Hawaiian Air, Cash Forward, Ring, Rewards, etc.. that I have closed so quite a bit of history with them.. All instant approvals being the more recent ones with the exception of the business card where it was a simple business validation and not by any means a decline

[Anonymous]

I have no experience with Chase and IO'm rather new to credit. Is 5/24 accounts or inquiries? I know I didn't have 5 accounts at the time I got my Uber card, but I may have had more than 5 inquiries.

If you get denied or get the 7-10 days message just be prepared to tell your life story to the analyst.

[Anonymous]

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@Anonymous wrote:

I have no experience with Chase and IO'm rather new to credit. Is 5/24 accounts or inquiries? I know I didn't have 5 accounts at the time I got my Uber card, but I may have had more than 5 inquiries.

If you get denied or get the 7-10 days message just be prepared to tell your life story to the analyst.

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The rule is 5 new personal credit card accounts in the last 24 months you will be automatically declined for most of their cards. The Uber card is Barclay and I have not heard this card is under 6/24.  Doesn't seem like a card churners would care about so I am not sure why they would put an anti-churning rule on it. 

[Anonymous]

Not quite three years ago, I received my Barclay CC. I was at 9/24 counting CC applied and approved. Plus, there was a FMCC inquiry, an AT&T inquiry and maybe one more. Things must have changed.

[Anonymous]

This whole thread is based upon the premise that the "reason for denial" they give is in fact the true reason. In my experience, they simply check at least 3 boxes as reasons for denial at random and send the letter along its way. The law requires them to give a reason, it does not require that reason to be the REAL reason. In most cases it may be something more hidden than what has been posted so far, especially some 5/24 "rule". Why do I feel this way? In my long experience with lenders I have seen many reasons for rejection that defy the facts, such as:

"Too many recent Inquiries" when the only inquiry in the credit file is their own.

"Balances too high relative to credit lines" when the total of balances reported was $0.

"Too many newly opened accounts" when the most recently opened account was opened 5 years ago.

and a lot of others. These are actual Adverse Action letters I have gotten over the years along with the facts at the time. Recon proved useless at the time. Sometimes they just don't want you as a customer for any or no reason, but the law says they have to come  up with a reason. So they do - at random. I am waiting to see an adverse action letter that is truthful, giving a reason like "we just don't want to give you an account" or "we have filled our quota of new accounts this quarter" or "the sun, moon and tides are not in the proper alignment."