Not too long ago, Barclays was known to be one of the easiest issuers to get approved for a new credit card. On top of that, folks were earning bonuses for the same card multiple times.
Has this changed? Recently, there have been several reports on forums and blogs that it is becoming more difficult to get approved for certain Barclays credit cards.
Even if it is true that Barclays is setting higher standards about who they approve for a new card, there are ways you can increase your chances of being approved.
1. Use the Card You Currently Have
One way that I have found helps is to use the Barclaycard I currently have a month before applying for a new card. This creates an active statement for the prior month which seems to increase chances of future approvals. From reports around forums and blogs, folks have been reporting that having a active current statement when applying for a new card is more likely result in an approval vs. not spending on the card.
2. Make Several Purchases
I don’t know if it is important, but I try to make real purchases on my current card--such as groceries, gas, and other bills vs. just making one small purchase and paying it off. Who knows if it is just the computer that looks at you account or a real person, but showing intent to use their card loyally could help approval chances.
3. Maintain a High Credit Score
Although it’s nothing new, having a credit score above 720 will greatly increase your odds of being approved for a new credit card. Credit board's pulls database is great for looking up the general score needed to get approved for specific credit cards. All you need to do is enter the ‘creditor name’ and state to pull up a list of all credit cards and credit scores for approved applicants.
Credit card companies want to see that your fiscally responsible in general. Having a high credit score is likely to increase your chances of getting approved for a credit card that is selective of who they approve.
These are just a few tips to help you when applying for credit cards and especially Barclays cards. As always, don’t apply for any credit cards if you cannot responsibly manage a good credit score and pay your bills on time.
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