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Warning: Barclaycard BT's
Vindiesel
Posts: 472 Forumite
in Credit cards
Hi All
Just had a furious conversation with Barclaycard. They are trying to sc*** me on an interest free promo Balance Transfer..let me explain as it's a little complicated:
1st August o/s balance roughly £200
2nd August purchase £350
6th August PAY FULL BALANCE OFF
12th August make BT of £1000
Lo and behold, 1st September, my BT balance is only £750 (approx) even though I have paid nothing off..so I query, and they say my paying off the balance on 6th august only applies when Septembers statement is generated- whereby they use it in the order of payment, to pay off BT's then BT fees, then purchases, then cash charges etc. Now I understand the order of payments, but my balance was effectively clear when I made the BT! So I explaiend this to them. I also explained I HAVE to pay the bill off in time which I did, otherwise I am charged interest so I am scre**ed either way.
If I did not pay off the bill, I would be charged interest on the full balance, and maybe have a fee charged. If I pay early, I am still scr**ed, as they pay off the BT that I haven't even made yet, so I pay interest on the purchases!
Sooo..I can't win, either way, I have to pay interest. This is clever, but also completely unfair! I have told them that I am closing my account out of a matter of interest. Make this a warning to everyone! Don't do a BT unless you have a completely free account, that you paid off the moneth prior! and be sure!
cheers
Just had a furious conversation with Barclaycard. They are trying to sc*** me on an interest free promo Balance Transfer..let me explain as it's a little complicated:
1st August o/s balance roughly £200
2nd August purchase £350
6th August PAY FULL BALANCE OFF
12th August make BT of £1000
Lo and behold, 1st September, my BT balance is only £750 (approx) even though I have paid nothing off..so I query, and they say my paying off the balance on 6th august only applies when Septembers statement is generated- whereby they use it in the order of payment, to pay off BT's then BT fees, then purchases, then cash charges etc. Now I understand the order of payments, but my balance was effectively clear when I made the BT! So I explaiend this to them. I also explained I HAVE to pay the bill off in time which I did, otherwise I am charged interest so I am scre**ed either way.
If I did not pay off the bill, I would be charged interest on the full balance, and maybe have a fee charged. If I pay early, I am still scr**ed, as they pay off the BT that I haven't even made yet, so I pay interest on the purchases!
Sooo..I can't win, either way, I have to pay interest. This is clever, but also completely unfair! I have told them that I am closing my account out of a matter of interest. Make this a warning to everyone! Don't do a BT unless you have a completely free account, that you paid off the moneth prior! and be sure!
cheers
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