topic Re: FYI - Barclays has frozen APR reductions in Credit Cards

FYI - Barclays has frozen APR reductions

tussking — Wed, 09 Sep 2020 14:04:15 GMT

Just requested an APR reduction on my JetBlue MC and got an email response:

Thank you for contacting us about your JetBlue Plus Card.

Barclays is not reviewing cardmembers' accounts for Annual Percentage Rate (APR) reductions. At this time, there is no possibility of an APR reduction for your account. Your variable APR for purchases is 24.99%. You are most welcome to inquire again in the future.

Your APR information can also be found on your statement under the section heading "Interest Charge Calculation" on each of your statements. Your statements are available to view and print on our website. To do so, please click the "Activity & Statements" drop down menu and select the "Statements" option. On the following page, you can choose the statement you wish to view from the drop down list of available dates and then click the "Download" button.

Take good care and thank you for choosing us to service your credit needs. If you have any other questions or concerns, please reply to this message.

Sincerely,

Customer Care

Re: FYI - Barclays has frozen APR reductions

M_Smart007 — Wed, 09 Sep 2020 14:11:02 GMT

Sir Barclay is Crazy!!! ... Rates at an all time low

Re: FYI - Barclays has frozen APR reductions

gdale6 — Wed, 09 Sep 2020 15:06:38 GMT

Barclays is likely to experience some real problems with the approaching hard brexit, most likely will do nothing until the fallout is known.

Re: FYI - Barclays has frozen APR reductions

K-in-Boston — Wed, 09 Sep 2020 15:12:24 GMT

@M_Smart007 wrote:
Sir Barclay is Crazy!!! ... Rates at an all time low

As it's a variable APR, the rate has been reduced with the reduction of the Prime Rate. The "plus" part of Prime (or LIBOR) + X on variable APRs is independent of market changes, and is solely up to the lender based on the product and their risk assessment of the cardholder.

Re: FYI - Barclays has frozen APR reductions

Anonymous — Wed, 09 Sep 2020 15:53:00 GMT

@gdale6 wrote:
Barclays is likely to experience some real problems with the approaching hard brexit, most likely will do nothing until the fallout is known.

But, but .... Boris says that a hard Brexit will be just as glorious for everyone as all the other solutions he has promised!

(OK, politics, but not US politics!)