Insights: BARCLAYS

These insights can help you navigate the specifics of Barclay’s credit cards more effectively.

 

  1. Primary Credit Bureau: Barclay’s primarily pulls credit reports from TransUnion. This can be advantageous if your TransUnion report has fewer inquiries compared to Equifax or Experian.
  2. Handling Frozen TransUnion Reports: It’s unclear whether Barclay’s will pull from another credit bureau if your TransUnion report is frozen, as most applicants typically freeze Equifax or Experian instead.
  3. Targeted Spending Offers: Barclay’s frequently sends targeted spending offers via email and mail. These promotions often include incentives like earning bonus miles or points for meeting specific spending thresholds over a set period.
  4. Retention Offers: Experiences with retention offers from Barclay’s vary. While some cardholders may receive annual fee waivers or other incentives to retain their cards, others might not. Barclay’s seems to favor targeted spending offers over direct retention bonuses.
  5. Downgrading to No Annual Fee Versions: Many Barclay’s credit cards have no annual fee counterparts. It’s often possible to downgrade to these versions, which can help maintain your account history and positively impact your average age of accounts.
  6. Matching Higher Sign-Up Bonuses: If a higher sign-up bonus becomes available shortly after you’ve applied, Barclay’s will typically match it if you request the adjustment within 30 days of account opening. It’s advisable to contact them even if you’re slightly outside this window.
  7. Minimum Spend Timeline: The period to meet your minimum spending requirement starts upon card approval, not when you receive or activate the card. This means it’s beneficial to begin using the card promptly to ensure you meet the spending criteria within the allotted time.
  8. Card Expediting Fee: If you need your new Barclay’s quickly, you can request expedited shipping. However, there is typically a fee associated with this service, which may vary over time.
  9. Reconsideration Line: If your application is denied, Barclay’s has a reconsideration line you can contact to discuss your application further. Engaging with this service may provide an opportunity to address any concerns and potentially overturn the initial decision.
  10. Application Frequency: Barclay’s is known to be sensitive to the number of recent credit inquiries and new accounts on your credit report. It’s generally recommended to space out your credit card applications and maintain a moderate number of recent inquiries to improve approval chances.
  11. Account Closure Due to Inactivity: Barclay’s may close accounts that show prolonged periods of inactivity. To keep your account active and in good standing, it’s advisable to use the card periodically, even for small purchases.
  12. Credit Line Decreases: Barclay’s has been known to decrease credit lines for cardholders who do not regularly use their available credit. Consistent usage of your card, while keeping balances manageable, can help maintain or potentially increase your credit limit over time.