Barclays Warning

[Anonymous]

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@core wrote:

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@randomguy1 wrote:

Do you apply this in your practice?

Wondering if Barclays will take action on people who do this as a habit?

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I got my one Barclays card in 2015 and aside from activity for the signup bonus, for the last 5 years I have done nothing with the card at all except a $0.99 Amazon balance reload once a month.  They haven't done squat to me.  Nor has any other creditor.  Hey, I didn't ask them to write off that balance.  They did it on their own.

If they close me down some day, who cares.  The card in question isn't good for anything else besides $12 a year in my pocket.  Obviously I'm not gonna win any 'customer of the year' awards.  I don't care about CLIs anymore.

Usually what a company does is just nerf if completely for everyone, when they get sick of it.  That's when I switch back to paper statements so they can pay postage to bill me for $0.01.  Comenity used to be good for $1.99 (or was it $2.00?) per month.  Now I can't get any more than $0.49 out of them.  No reason for them to close down accounts when they can just straighten things out.

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I would suggest using any cards in a honest and legit manner.  Being familiar with their write off policy so you don't have to pay for what you charge is not the best practice.  

[longtimelurker]

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@core wrote:

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Usually what a company does is just nerf if completely for everyone, when they get sick of it.  That's when I switch back to paper statements so they can pay postage to bill me for $0.01.  

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What is the point of that? Yes, a loophole has closed, but no need (IMO) to "punish" them this way, next would be a charge for paper statements.

Doing something a little "iffy" for $12 a year doesn't appeal to me.  Go the MS route and at least get some decent return if you want to push the envelope!

[core]

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@longtimelurker wrote:

What is the point of that? Yes, a loophole has closed, but no need (IMO) to "punish" them this way, next would be a charge for paper statements.

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It's not about spite nor punishment.  It's about pointing out the financial error of their decision.  If enough people did that they'd go back to writing off balances, but perhaps a lesser amount.  What Comenity did with the $0.49 I think is quite reasonable:  Just a hair over what they pay for first class postage, and a little bit extra for the piece of paper and associated costs.

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@longtimelurker wrote:

Doing something a little "iffy" for $12 a year doesn't appeal to me.  Go the MS route and at least get some decent return if you want to push the envelope!

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That's my main source of income, along with similar but slightly more profitable schemes.  The $12 is just a little bonus for something I have to do anyway, which is show activity to keep the card open.  Yes, I did say I don't care about the card but I do care a bit what happens with AAoA in 10 years.  I have never closed a CC without an AF and as a result I can now hit signup bonuses with impunity, aside from the HPs.

The fact that this small amount of cash is coming out of a credit card company's pocket just adds to my enjoyment.  But really the ones who are paying for it are the folks who choose to carry a balance and pay interest.  I'm fine with that too.  *shrug*

[Dmessina666]

Your Comenity comment made my day. 

[Anonymous]

About a month ago I got a hardcopy updated T&Cs, and a section said they may terminate account for non-use, I'd never seen that before. Then two weeks ago I got an email offering a $20 statement credit for each month I spend $300, from July to September. Within the first week I put $301 on the card, no credit yet. I wonder what's really going on internally over there?

[core]

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@Anonymous wrote:

About a month ago I got a hardcopy updated T&Cs, and a section said they may terminate account for non-use, I'd never seen that before. Then two weeks ago I got an email offering a $20 statement credit for each month I spend $300, from July to September. Within the first week I put $301 on the card, no credit yet. I wonder what's really going on internally over there?

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Since they can already close accounts for any reason they want, yeah it does seem a little odd to put that right in the T&C.

$20 on $300 is 6.66% cash back.  That's not a bad offer, too bad I didn't get it.  Hey, that 6.66% number sounds familiar from somewhere.  You're right, I wonder what's really going on internally over there?