Letter from Barclaycard-Summary of changes-anybody else get one

[ramblinggirl]

Today I recieved a letter from Barclaycard and what the letter said was " To provide you with better service experience we are simplifying our pricing by modifying certain terms of your Barclaycard Rewards Mastercard. The key points are "The Penalty APR have been removed from your cardmember agreement-this means that we will not automatically increase your APR to a Penalty APR when you make a late payment and the introductory or promotional offer on your account, those terms will continue as described in that offer.  Also, effective October 1 2014, we are amending the Credit Information section of your Cardmember Agreement to add the following sentence:

From time to time we may request employment and income data from third parties for the ongoing administration of your account.

I do automatic payment but I am glad to know that they have removed the increased APR for late payment. What I gather with the "from time to time statement"-they are keeping an eye on your account to see if things are matching up and for CLI or CLD. I read on a forum that Chase and Barclaycard do SP creditchecks  to keep an eye on your use of credit..  

[ddemari]

I got the same letter. The highlights were no more penalty apr and they are going to get information on my income from time to time. I did not like that letter for some reason lol. 

[Kenny]

On the Arrival there were more changes than that. BT transfer fee increased to $5 or 4% I think.. and some other junk. Thanks for making the card "BETTER". Not.

[Themanwhocan]

As long as my Priceline.com stays at 2% cashback for everything... They can change whatever else they want.

[ramblinggirl]

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@ddemari wrote:

I got the same letter. The highlights were no more penalty apr and they are going to get information on my income from time to time. I did not like that letter for some reason lol. 

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Ok-I am glad other people got the letter. I thought it was just directed at me. I have the income and the job history but i just feel once they have decided to extend credit to me and I am paying as agreed no need to play big brother.

[ramblinggirl]

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@Themanwhocan wrote:

As long as my Priceline.com stays at 2% cashback for everything... They can change whatever else they want.

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Maybe thats coming soon. Your letter just didnt get there yet. lol

[Themanwhocan]

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@ramblinggirl wrote:

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@Themanwhocan wrote:

As long as my Priceline.com stays at 2% cashback for everything... They can change whatever else they want.

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Maybe thats coming soon. Your letter just didnt get there yet. lol

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Oh I read my letter   Lotsa fee increases and that elimination of a penalty APR (who cares, the apr's are already sky high)...

[barbaralee]

I got the letter... I don't really feel like any of it applies applies to me, so I am indifferent to the changes. 

[chwebb1]

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@ramblinggirl wrote:

Today I recieved a letter from Barclaycard and what the letter said was " To provide you with better service experience we are simplifying our pricing by modifying certain terms of your Barclaycard Rewards Mastercard. The key points are "The Penalty APR have been removed from your cardmember agreement-this means that we will not automatically increase your APR to a Penalty APR when you make a late payment and the introductory or promotional offer on your account, those terms will continue as described in that offer.  Also, effective October 1 2014, we are amending the Credit Information section of your Cardmember Agreement to add the following sentence:

From time to time we may request employment and income data from third parties for the ongoing administration of your account.

I do automatic payment but I am glad to know that they have removed the increased APR for late payment. What I gather with the "from time to time statement"-they are keeping an eye on your account to see if things are matching up and for CLI or CLD. I read on a forum that Chase and Barclaycard do SP creditchecks  to keep an eye on your use of credit..  

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I got a similar letter for my Ring. I agree that the "employment data from third parties" seemed very big-brotherish to me. The rest of it was fine, but I do feel that if I pay the account as agreed, no need to pry into my private (financial) life. And who even knows how accurate that information will be?

[AvadaKedavra]

I didn't get this letter. I agree the employment data from third parties sticks out, but I'm sure that's for rare situations. Perhaps CLI which puts you over a certain amount where they would need to verify your income. Much like AMEX after 25k limit.