Friday, January 16, 2015

Barclays is Late to The Party + Retention Bonus

Barclays sent me an email announcing an enhancement to my US Airways Barclays credit card.

The enhancement is the elimination of foreign transaction fees.

Foreign transaction fees are additional money that you have to pay for using your credit card to purchase items in a foreign currency. Typically, the foreign transaction fee is 3% or  $3 for every $100.

Eliminating this unnecessary fee is a true enhancement. The problem is that other credit card companies have already eliminated this fee on most cards. Barclays is late to game.

Retention Bonus 

Early this week, I tried to cancel my US Airways Mastercard. After being transferred to an Account Specialist, I explained that I wanted to cancel my card. After explaining that I am not using the card and the lack of spend bonuses, the account specialist offered to refund my annual fee $89 and give me 5,000 miles if I spend $1,000 in 90 days. The funny thing is I paid the annual fee in August.

I took the offer and kept the card open. $89 refund and the possibility to earn 5,000 miles easy was to much to offer.
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