barclaycard 0% for life balance transfer

red_marauder2001

hi..
a while back this site advised of the 0% interest for life on balance transfers from barclaycard.I did this and set up the minimum requirement £1 spend per month with a monthly subscription to MSE.
This worked fine until this june when for some reason when the payment didnt go from barclaycard.Because i do not use this account for anything else i did not realise this.Consequently i have paid interest on whole of balance for the last three months.Even though i recieve an e-mail from pay pal to say it has been paid, barclaycard say they have not been asked for the £1.
Can anyone offer advice? Monthly interest gone from 50 p to more than £12!

M_Thomson

red_marauder2001 wrote:

hi..
a while back this site advised of the 0% interest for life on balance transfers from barclaycard.I did this and set up the minimum requirement £1 spend per month with a monthly subscription to MSE.
This worked fine until this june when for some reason when the payment didnt go from barclaycard.Because i do not use this account for anything else i did not realise this.Consequently i have paid interest on whole of balance for the last three months.Even though i recieve an e-mail from pay pal to say it has been paid, barclaycard say they have not been asked for the £1.
Can anyone offer advice? Monthly interest gone from 50 p to more than £12!

As I remember the original terms of the offer stated that if you don't make a purchase at least once a month you are charged at 6.9% for that month only and then when you make your purchase again next month you go back to the 0% offer. Have you got the terms and conditions anywhere? I will try and dig mine out and I will get back to you tomorrow.

Rafter

M is right - it goes back to 0% once you start making a payment again, although I think you will end up paying interest on interest.

If Barclaycard have not received the instruction I guess you need to tell paypal they have a problem with their system, and once the payment comes through try appealing to Barclaycard to cancel the interest, although can't see why they would. After all you are taking them to the cleaners with this offer and they hardly value your loyalty!

R.

Milarky

Rafter wrote:

M is right - it goes back to 0% once you start making a payment again, although I think you will end up paying interest on interest.

That's not quite right. The interest [at 6.9%] is added to the promo balance. If you make a purchase [I think 'payment' was an unintended slip]this whlole balance [including any rolled up interest - because it is charged at the same rate as the rest] reverts to 0% for that month, again, and so on.

Help yourself now - find any place on the interent - or large shop - and just use the card for the minimum possible [£1 only] before the next statement date to lock back in to 0%. And keeping doing this manually each month until the Paypal thing starts taking again.

Personally, I just pay £1 in council tax each month and put it back in the draw. In other words I don't trust to others to collect this vital transaction by organising it myself.

dc

I get a £1 of petrol at an automatic pump, usually Asda or Tesco, whichever I am passing a few days before statement date.

From November the 50p interest will go up £1 if you haven't heard.
I suppose they have to get something back :rolleyes:

mr_accountant

fastpay were great for this. take £1 out of bcard premier into fastpay, then take this £1 from fastpay into your current account, so infact the even the £1 'spend' was not spent, this is because a fastpay transaction counted as a purchase. now its closed i buy a bar of choclate from my local petrol station!

red_marauder2001

hi
thanks all for advice..gues i`ll just have to spend a pound manually to avoid problems!

regards

phil