In November of last year Barclaycard made significant cuts to the benefits they give active duty military members. The main changes were that interest would be capped at 6% instead of 0% and annual fees would no longer be waived. Active duty military members that already had these benefits applied to their grand were grandfathered under the old rules.
Reddit user churningcents2011 reports receiving the following letter:
Dear *****,
Please read this information carefully and keep it with your Cardmember Agreement for future reference.
Our review of the Department of Defense records indicates that, prior to the date on which you applied for the MasterCard Gold Card, you were on active duty status. Because you opened your account after you were on active duty status, the account is not eligible to receive the protections under the Servicemembers Civil Relief Act (SCRA) – but we extended certain benefits to your account at account opening based on our policy.
Going forward, we’ll no longer waive the annual fee on your account. As a result, a charge of $995.00 for your annual fee will appear on your billing statement for the next billing period your annual fee is scheduled to be assessed, April 30, 2017.
Also, we’ll charge an annual fee of $295 for each authorized user on your account.
You will also receive written notice of the annual fee before receiving the billing statement in which the annual fee will be charged.
Although your account is not covered by the SCRA, we’ll continue to apply a 0% Annual Percentage Rate to your account and waive other fees while you remain on active duty because we appreciate your service to our country and we value you as a cardmember.
Thank you for your service to our country.
Sincerely,
Barclaycard.
It seems that Barclaycard will only continue to grandfather cards if they were opened prior to somebody becoming active duty military (apparently this information is also now easier to access). You can view our recap of SCRA benefits for each individual card issuer by clicking here.
– I enrolled my Barclays Gold card in SCRA benefits in June of 2016; already on active duty.
– Mar 17, I received notice they will be welching on the written agreement to waive my fees while I’m on active duty.
– They are still offering me 0% interest, but at a price of $995/yr. (terrible deal)
– I’m going to ditch them and keep my AMEX Platinum.
– My USAA World Card has double points and will accept SCRA while I’m deployed overseas during the next 3 yrs.
Barclays is welching on written agreements to waive fees. There is NO GRANDFATHERING of the fee waiver if you were already on duty when you applied for the Gold card.
DP, I received the letter in the mail yesterday for my Arrival+. Annual fee will be charged next year. I do not have the Gold Card.
Thanks for that DP, wasn’t sure if it was just being applied to the gold cards.
I am not so sure this applies to all their cards. I only received the letter for my Gold card. I also have their AAvantage Silver card and I haven’t received a letter about that one.
Thank you for the update.
Like a lot of things in this hobby, it was great while it lasted. Time to use up my Arrival+ points.
F**K
Any creative suggestions for using the $200 annual credit (besides gift cards) before closing the account, given that this development plays out as described?
WHAT card has $995.00 + $295 for each authorized user?
Those luxury cards: Black and Gold and Titanium
Barclaycard gold: https://www.doctorofcredit.com/luxury-cards-from-barclaycard-reviews-titanium-black-gold/
Barclays and the Terrible, Horrible, No Good, Very Bad Gold Card