Big Print Blog

Why are we calling this blog "Big Print"?

Because we want to shed some light on the small print you see in financial documents. By pulling back the curtain on how a credit card company really works, we can work together to be better.

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Barclaycard Ring September Results: First Giveback is in the Books
Barclays Ring Public Blog

Barclaycard Ring 1st GivebackMy 2 thoughts and 1 mixed feeling on September’s financial stats.


I write to you from a bittersweet place. Let’s start off on a positive note. We are very excited to be working with the Ronald McDonald House of Delaware for our first GivebackTM charity project. As a community, we have a wonderful opportunity to make a positive impact for the organization. You can read more about the project here. Also, the greater Ring team has worked feverishly to bring you the first GivebackTM ever. We’re proud to let you know your Giveback shares have posted on the community site here.  On the not so positive side, in September, we  posted a negative result for Giveback. I am bummed the total Giveback value declined from last month. Although it’s still a very good number, it’s a shame it couldn’t be better. So, what happened?


First, the good: We’ve been able to get the growth moving in September. The number of active accounts grew 22% and the total loan balances grew 22%. That’s our highest balance growth rate so far in a given month. Revenues grew at 13% and costs grew by 15%. These numbers are all good indicators that we’re moving in the right direction.


Now, the bad: Two individual with higher than average credit lines have, unfortunately, filed for bankruptcy.  As a result, the total unpaid balance amount for September was over $23,000. The bankruptcies are not official (meaning they aren’t approved by the courts yet) but we still need to reserve for that possibility. We obviously try to guard against such a thing happening. Overall, we still managed a net a total profit of $921 in September. However,that does not cover our 3% hurdle requirement. As a result, Giveback was reduced by $7,930 for the total Giveback period. It’s a shame that so few people can have such a dramatic result but, it does give everyone a better sense of how our credit card business works.


Moving forward we are very excited to launch GivebackTM. Please log into the community to see how much you received. Once you are in, you can choose to donate some, all or none of your share to the charity project. If you feel compelled to donate to the community charity project I want to thank you for doing that. As a reminder, for every dollar donated by the community, Barclaycard will match that donation, dollar for dollar. The opportunity to donate ends at 8:00PM EST on November 15th. Congratulations all recipients!


Interested in providing your feedback on our first Giveback summary? Share your thoughts with us on Facebook!


And, if you're not a Barclaycard Ring cardmember yet, apply today!

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