SNEEKY Ba*rds!!!

PJJones

So, I applied for another 0% card to switch to, after my existing card ended. I got a Barclay Card Platinum card at 0% for 12 months.

Because I'm not sure about my job security at the moment, i decided to take the basic, involuntary unemployment cover at some small percentage per month. I thought it might be better safe than sorry. I was happy to pay for a good few months until things settled down.

I got the first statement after doing my balance transfers and all was well. I got my second one today, and the balance transfers I did were still OK, sitting happily at 0% interest, but the payment for the "Plan B Payment Protection" had been added to the balance at 1.167% ?!?!

If I hadn't bothered checking it and just let the Direct Debit go through each month, id be getting charged for this each month!

I don't remember anyone telling me this on the phone, and I don't remember reading anything about it. Now there is a small amount sitting there waiting at the end of my Promotional Rate, growing in size all the time, until i pay off my balance!

Has anyone else noticed this?
If you haven't checked... Check!


PJ

PJJones

reported spam

Eydon

PJJones wrote: »

So, I applied for another 0% card to switch to, after my existing card ended. I got a Barclay Card Platinum card at 0% for 12 months.

Because I'm not sure about my job security at the moment, i decided to take the basic, involuntary unemployment cover at some small percentage per month. I thought it might be better safe than sorry. I was happy to pay for a good few months until things settled down.

I got the first statement after doing my balance transfers and all was well. I got my second one today, and the balance transfers I did were still OK, sitting happily at 0% interest, but the payment for the "Plan B Payment Protection" had been added to the balance at 1.167% ?!?!

If I hadn't bothered checking it and just let the Direct Debit go through each month, id be getting charged for this each month!

I don't remember anyone telling me this on the phone, and I don't remember reading anything about it. Now there is a small amount sitting there waiting at the end of my Promotional Rate, growing in size all the time, until i pay off my balance!

Has anyone else noticed this?
If you haven't checked... Check!


PJ

Yep - all to do with the order of payments, and most credit card companies work this way. The insurance is effectively a purchase, so it will be charged at your purchase interest rate. Any payment you make towards your balance will pay off the debt at the lowest rate first (in this case the balance transfer at 0%0.

I know it's not what you want to hear, but it's in the T&Cs of the card. Golden rule is never use a card for purchases while you have a balance on their at a promotional rate.