I submitted a formal complaint via secure message this morning at 9am.
I stated that I wanted to be compensated in cash given that I had spent the last 4 months working towards a target that Barclaycard have known for some time was unlikely to be achieved as they had known for some time about the closure. In my complaint I made it clear that I would take them to the Ombudsman as the period of notice was insufficient particularly in light of the time specified target to be reached.
They have just called back at 7pm and it took around 15 minutes before they offered £30 which was increased immediately to £50 when I laughed down the phone.
I told them they were clearly in the wrong; that their offer was evidence of this and that I would take my chances with the Ombudsman. I was then asked what I would accept and I said £150. This was based on the percentage of the target spend I had spent to date along with the cash price of a night at the IC Amstel or London Park Lane later in the year.
To my surprise they agreed and they have credited my account.
This was done to stop me going to the Ombudsman and clearly Barclaycard know they have got this very wrong and cannot afford to be taken to the Ombudsman.
I suggest that before closing any account write and complain and make it clear that you will go to the Ombudsman.
Work out your progress towards the target and the time left till the end of your year. Then pitch you claim at a percentage of an expensive IC.
I am happy with my outcome and will close the account shortly and move to the Mastercard. However it is either evidence of ineptitude by Barclaycard or further evidence of the continued duplicity of UK financial institutions.