Is this legal?

[hernaemm90]

So I wanted to share this story because I thought it was funny.

I was talking to a co-worker about how I was mad at Barclays because they wouldn't give me a soft pull CLI on my uber visa card, even though I was spending 2 times the current credit limit since I was using the card as my daily driver. Anyway, I start thinking, I figure Barclays is probably taking a small loss on their highest earning category, fast food and resturants. So, since they don't want to give me a credit limit increase, I don't want to make them any money. I figure that at most, they are probably making 3% in interchange swipe fees, if I only use the card for food, they take a loss of a few pennies each transaction I make. I know its only pennies and Barclays doesn't care about me but I'm upset they wouldn't give me a soft pull CLI, so I will make them regret it 1 penny at a time. When i'm done telling this to my co-worker she asked me seriously, "is that legal?". I just laughed because I realized at least 1 person (proabably more) in this world belives that if you are attempting to screw over a bank its actually illegal. What do you guys think? Have you experienced something similar?

Below is a link to Visa Interchange Reimbersment Fees, based on page 10 I think my estimate was about right, let me know if i'm wrong

https://usa.visa.com/dam/VCOM/download/merchants/visa-usa-interchange-reimbursement-fees.pdf

[CreditInspired]

For me, my CCs are a convenience where I have 25-30 days to use their money at no charge, and I earn cash back or rewards that the cards offer. The last thing I care about is what swipe fees a bank earns. 

Oh, the the story was about the coworker thinking screwing over a bank was illegal. That’s a new one for me. In my circle, people are shocked that I can actually earn money or rewards just from using my cards. 

[iced]

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@hernaemm90 wrote:

So I wanted to share this story because I thought it was funny.

I was talking to a co-worker about how I was mad at Barclays because they wouldn't give me a soft pull CLI on my uber visa card, even though I was spending 2 times the current credit limit since I was using the card as my daily driver. Anyway, I start thinking, I figure Barclays is probably taking a small loss on their highest earning category, fast food and resturants. So, since they don't want to give me a credit limit increase, I don't want to make them any money. I figure that at most, they are probably making 3% in interchange swipe fees, if I only use the card for food, they take a loss of a few pennies each transaction I make. I know its only pennies and Barclays doesn't care about me but I'm upset they wouldn't give me a soft pull CLI, so I will make them regret it 1 penny at a time. When i'm done telling this to my co-worker she asked me seriously, "is that legal?". I just laughed because I realized at least 1 person (proabably more) in this world belives that if you are attempting to screw over a bank its actually illegal. What do you guys think? Have you experienced something similar?

Below is a link to Visa Interchange Reimbersment Fees, based on page 10 I think my estimate was about right, let me know if i'm wrong

https://usa.visa.com/dam/VCOM/download/merchants/visa-usa-interchange-reimbursement-fees.pdf

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It's not illegal to only use a card for certain categories. If it was, Chase would have taken my CSR away a long time ago.

The only person being hurt in this situation is you. Not only are you not hurting Barclays with this tactic, you're actually helping them. They don't offer 4% cashback on dining because it hurts them, even if it might cost them a penny a transaction. The information they mine from you is far more valuable.

[hernaemm90]

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It's not illegal to only use a card for certain categories. If it was, Chase would have taken my CSR away a long time ago.

The only person being hurt in this situation is you. Not only are you not hurting Barclays with this tactic, you're actually helping them. They don't offer 4% cashback on dining because it hurts them, even if it might cost them a penny a transaction. The information they mine from you is far more valuable.

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You're right, I forgot about them collecting data. Oh well, i'm still only going to use it for that one category

[MakingProgress]

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@hernaemm90 wrote:

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It's not illegal to only use a card for certain categories. If it was, Chase would have taken my CSR away a long time ago.

The only person being hurt in this situation is you. Not only are you not hurting Barclays with this tactic, you're actually helping them. They don't offer 4% cashback on dining because it hurts them, even if it might cost them a penny a transaction. The information they mine from you is far more valuable.

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You're right, I forgot about them collecting data. Oh well, i'm still only going to use it for that one category

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Other than meeting my SUB my Uber Visa will be used for Dining (except Disco 5% quarter), and travel @ 3%, and my online subscriptions @2%.   The only reason the 2% is there is that it is the same as my Citi DC and as long as I hit my spend of 5K this year (that is questionable if it will happen or not)  I will get the Subscription credit.

My Ducks Unlimited card will only see Gas purchases at 5% back.

I use my cards where it is most advantages to me. 

[Anonymous]

That's what the card was made for. It use to be my daily card for restaurants but that changed since I got the Gold AMEX. I usually use it for some restaurants where AMEX isn't accepted and that's about it.

I also  pick up the tab and let people Venmo me. It's not really mis-using the card. With the interest rate they're also expecting people to not PIF. 

As long as you have the right strategy, you'll be fine. Remember MF'ers are such a small % of the actual CC users, most don't know any better.

[Anonymous]

Barclays is known for their unique actions. For that reason we do not have a Barclays card. 

As far as cards go. At the backwoods house and business we have cards that give reewards for almost any specific purchase.

Grocery 6% Gas 5% utility 5% Fast Food 5% Table cloth dining  3%   whole list specific shops 8% to 3%   Misc we have 2% and 1.5%

For biz we get anywhere from 5% to 1.5% back.

It can be fun when to cash back hits a large amount.