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

[leclerc]

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 ) ?

[di30]

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.

[leclerc]

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!!!

[labman]

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.

[carltoncarney]

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

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