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Small Balance Write Off--anyone know why they do this?

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  • Small Balance Write Off--anyone know why they do this?

    Well, checked my natwest Credit card statement and saw an amount under £1 stating Small Balance Write Off......needless to say the first thought I had was, are they shutting the account down.

    Never seen this before but I am aware that some credit card companies will write off amounts under £1.

    Has anyone else seen this before(saves me calling them and asking them :o ) ?
    "Family means that no one gets forgotten or left behind"
    (quote from David Ogden Stiers)
    Tags: None

  • #2
    Re: Small Balance Write Off--anyone know why they do this?

    That's a strange one, but Yes I can see what you mean, :tinysmile_hmm_t2:

    Would a free credit report come up with anything yet perhaps?

    I expect someone may know what this is all about, good luck.

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    • #3
      Re: Small Balance Write Off--anyone know why they do this?

      If the balance is below £1 then they pay it off for you.....I don't know how many times they would do this or why they do this but that's saved me £0.67, lol!!!
      "Family means that no one gets forgotten or left behind"
      (quote from David Ogden Stiers)

      Comment


      • #4
        Re: Small Balance Write Off--anyone know why they do this?

        I believe it is purely a pragmatic decision based on the fact that any admin costs incurred with dealing with the balance would not be financially feasible.

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        • #5
          Re: Small Balance Write Off--anyone know why they do this?

          Thanks for sharing information,your information are very helpful for me and increase my knowledge.

          Comment

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