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I don't have this card, but I did get the Barclay's Financing card and a little later realized they had a rewards card. I was told that I couldn't PC unless I reapplied, so I did. They told me they had to review my account. I called to recon it and was told they were denying it and closing my Financing card too. I argued a bit with two different people and demanded to speak with the manager about this, the same rep came back and said they would open the account but close the financing card. They told me what my limit would be and then when I checked the card online it was half what I was told. I did some more recon after about a month using help from the BBB and got my limit set to what they told me it would be.
They do specials all the time. I was offered 1,000 bonus points on the card if I spent $100 a month each month Nov, Dec, Jan. This amounts to a $10 credit. I also had to recon the bonus points for signing up, which was only 2,500, but at least it is something. I think by the time Jan comes and I redeem the points I will have about a $50 credit. I wish I were willing to pull the trigger for a $400 reward, I can't even believe they could make money off a card by offering it! I haven't spent $400 in interest in the last 6 years! I haven't even spent $50 in interest in that time period!
Remember, cc companies make money on interest charged on balances and the fees they charge merchants like myself. Rewards cards can cost me up to 7% of the gross charged. I as a merchant must build in more overhead to be able to cover these fees/rewards when they occur. In the end, all consumers pay more for their goods and services. There is no such thing as free money.
Dang debbiedoubter, I mean bettercreditguy.
I was looking at this card 'til now. lol
@bettercreditguy1 wrote:Remember, cc companies make money on interest charged on balances and the fees they charge merchants like myself. Rewards cards can cost me up to 7% of the gross charged. I as a merchant must build in more overhead to be able to cover these fees/rewards when they occur. In the end, all consumers pay more for their goods and services. There is no such thing as free money.
@racer-x wrote:Dang debbiedoubter, I mean bettercreditguy.
I was looking at this card 'til now. lol
Although what bettercreditguy1 said is true, it won't dissuade me from using rewards credit cards.
Congrats!!! I just applied for this card this morning and was approved for a CL of $1000.