New AARP Barclays Credit Card contains a binding arbitration clause.
As I understand the letter AARP sent to all members on July 2, 2021, notifying us of the program in place to cancel our existing AARP/Chase credit cards to transition to a new AARP/Barclays credit card, the new Barclays Terms and Conditions Agreement will contain a binding arbitration clause, with no “opt out” option.
AARP has been a champion supporter of consumer rights in the past and particularly supportive of fighting against binding arbitration clauses in consumer credit card agreements. This new program - moving members to Barclays - is contrary to that fight and support AARP has given members in the past.
So, I do not understand why the AARP Board of Directors, or management, has chosen to take this path and include a binding arbitration clause in the proposed new AARP Credit Card with Barclays. I for one, will not be transitioning to it. There are plenty of other credit card options out there which do not include a binding arbitration clause.
If management, or the BOD, have an explanation for members as to why it is now in support of binding arbitration in member financial agreements I’d love to hear it.
I encourage other members to look carefully at this and let AARP know your thoughts about it.
You've made some very good points here, many of which we hadn't thought about. It makes us want all the more to bow out of this 'deal'. It certainly wasn't thought out to the degree that we the customers would have liked. I think we may be coming out on the losing end of this change. AARP has another strike against it in our books.
I was disappointed with the AARP switch. The Barclays card rewards are useless to me so I will opt out. I never received the opt out mailing so I guess I have to wait for the actual credit cards. Instead of the Barclays card, I applied for a Chase freedom unlimited. It is a better credit card, plus it is with Chase. I don't need another bank to deal with.
Absolutely agree! AARP is switching to Barclays because they are going to get higher royalties compared to CHASE. We opted to get a CHASE Freedom Unlimited card which offers better rewards than the Barclay's card. Applying was a piece of cake, and we didi it all on line in less than one day. As soon as the new card is activated we're dropping Barclays like a hot potato. I'm for cancelling our AARP membership, but my spouse is resisting. Stay tuned.
The new card is a colossal pain in the ass. I'm 70. Not a tech wizard. It was an effort for me to set up automatic payments on the Chase Card, now I have to do it all over again. No, I won't be switching to the new AARP card. I have to haul my ass to Chase and have them walk me through auto-pay setup for a regular Chase VISA.
I agree completely, I only just discovered the switch over from an email on Sep 1st, I have a lot of automatic payments on my Chase card which are going to be a pain to switch in time. Considering whether I want to continue my AARP membership...
I'm certainly not going to switch them to the new AARP card!
@andreamae Hi there, here to help. To reject the card, you are supposed to call Barclays at 866-211-9133 before September 7, 2021. Even though you have missed the deadline however, you can still call them to cancel using the number on the back of the card once it arrives. AARP and its members have enjoyed a very longstanding and beneficial relationship with Chase but unfortunately, that relationship was contractually slated to end this year. AARP felt that a co-branded credit card offer was important to members and underwent a long and rigorous process to search for a replacement to Chase that would 1) service Members in the manner in which they were accustomed and 2) whose card benefits were competitive with what was with Chase. It is standard practice in the credit card industry to allow a credit card company to sell your account to another card company, which can happen even when your card is active and in good standing. The Chase agreement that signed when the account was opened allows for this event to happen. I hope this helps!