Barclaycard 6.9% UPO MISTAKE! BEWARE!

ajc2009

BEWARE!

I received a letter from Barclaycard early Jan 2010 offering me a 0% Balance Transfer and also sent me some cheques to use for balance transfers. I have had an account with them for years but the card was '0' Credit.

Anyhow I called them up to find out more and got through to India. I asked if there were any other offers for me, they went through all informing one was a 6.9% offer UPO (until paid off). I then asked how much I could transfer. She told me on the 6.9% offer I could transfer £7100. I then proceeded to ask if I could use the cheques sent with the original 0% offer to complete the 6.9% transfer... SHE SAID YES YOU CAN!

So I was told I could do the 6.9% offer and that on the back of the Cheque I should write my account number and "6.9% UPO Offer".

So I checked my account today and saw that there is a balance transfer for £5000 and £2000 in CASH!!! You get charged over 27% for CASH!!!

I called them and they basically said I had taken the 0% on £5000 and £2000 in addition was cash... (this was India call centre too). They had no record I had been 'sold' the 6.9% offer. I explained the above to them that I had been told I can do £7000 at 6.9% using those existing cheques...

Anyway they need to check with their Financial Decision makers for a resolution, but it looks as though they may have to downgrade me back to the 0% offer for the £5000... not sure about the £2000 "CASH" they have on the account.

I am willing to update this if i hear back from Barclaycard. She said they 'may' call me back or it may appear on my next statement.

My point is PLEASE BE CAREFUL when speaking to them, I was 'miss-sold' this financial product and now they have no record of it on the system, even though I checked and checked again that I could DEFINATELY do the 6.9% UPO offer on £7000.

Anyone else had this problem or have any comments?! I'm worried I will go back to square one now

maninthestreet

Why would you want take up a 6.9% BT offer when a 0% BT offer was apparently available to you?

ajc2009

I understand why you ask that question, but thats nor here nor there. The point is Barclaycard didnt deliver what they SOLD ME.

Anyhow I decided to go for the 6.9% offer because its for THE LIFE of the balance. I have no savings, my other credit cards are nearing end of their 0% offers AND I recently applied for new 0% CC's and they refused me (due to credit crunch perhaps?).

I also noticed one of my existing CC's is no longer accepting new customers...

It seems as tho I exhausted my 0% CC applications and like I say I have been refused for a couple lately. I have always used 0% cards.

Thanks.

Bismarck

I sympathise...have never had too much faith in them to get the story straight - it's usually turned out OK but in this case you need to talk to someone in the UK team and explain what's happened and you wanted a big 6.9% LOB and can they simply fix the balance that you have at that and then everyone will be happy..the magic words that others have used with success is "crystallise"...you probably not be able to spend on the card again afterwards but I don't thin kyou wanted to, anyway....

ajc2009

Hi Bismarck!

Thanks for the sympathy vote!

Just called them again for help. The guy was VERY helpful. It seems he knew more than the supervisor did who I spoke to earlier!

Basically one of their advisors cocked up when she gave me the info, so it appears its a 'one-ff' situation? What I am unhappy with however is the ammount of inconsistency at Barclays... something similar happened when I need to reclaim from a company that went bust (Section 75 I think it was) and they sent me the wrong forms... anyhow thats another issue. But it's annoying how they aren't consistent across the board and all come out with different messages.

I know that from now I will be more careful and check, check, check and CHECK AGAIN and ASK them to put those exact notes on the system.

As a result of my conversation just now they are sending me more forms and should be able to restore the original 6.9% offer back onto my account. For now they have put £5000 at 0% (until March 2010) and £2000 cash is frozen...

As I said before the 6.9% is a better option for me as my cards I transfered from are running out of their 0% period and Barclaycard was the final option for me without getting a new card... I cant keep juggling cards cos I have been refused new 0% cards AND you never know what's going to happen to the economy next, so would rather play it safe.

As it stands at the moment, this 6.9% offer is CHEAPER than a LOAN and with lower repayments!!!

figworm

Hello, I was going to apply for a barclay card 6.9% this evening but was unsure what to do you may be able to help me. My 0% interest card is coming to an end but do I go for a 0% balance transfer card or do I go for a long term low interest deal which charges a balance transfer fee? I need to spend on my credit card for purchases so was edging towards the barclay card. Any tips first time I have done this credit card tarting! Thank you

Kavanne

maninthestreet wrote: »

Why would you want take up a 6.9% BT offer when a 0% BT offer was apparently available to you?

If you aren't going to pay it off within the 0% period then a life of balance offer COULD save you money. That is why some people would do it.

ajc2009

Hi Figworm!

Well I have always done 0% balance transfers and was in same situation with you re: 0% offers coming to an end. You will notice that other companies such as Egg Money have stopped accepting new customers (credit crunch?) and I have also found that although I have a good credit rating that I have been refused other credit cards... So I decided to go for the 6.9% when Barclaycard told me about it.

It was particularly appealing to me because I knew I would now find it hard to find other credit cards with 0% AND 6.9% for the life is LESS than th repayment of a Loan at this time.

It's totally up to you but in my situation this was the best option for me. Call them up and discuss Balance Transfers and ask if there is a 6.9% UPO (Until Paid Off) Offer. I think its one of the better rates in the market, especially if you have exhausted all 0% cards!

GOOD LUCK BUT MAKE SURE YOU GET THE RIGHT INFO FROM BARCLAYCARD AND ASK THEM TO MAKE THOSE NOTES ON YOUR ACCOUNT INCASE THEY HAVE MADE A MISTAKE, LIKE THEY DID WITH ME!!!!

gardnt1

As far as I'm aware, Barclaycard existing customer offers are 6.9 for life or you get the occasional 0% cheque (with fee) for a length of time.. when I have been offered these, the small print says that you can transfer up to 90% of you credit, to a maximum of £5000. Anything over is charged at cash rate. This is definately on the web site existing balance section and has always been included with my 0% cheques in the statement.

ajc2009

Hi,

Thanks for you reply.

Can I just make it clear that I was FULLY aware of what you say in your message 'GARDNT1'.

BUT... My point is that when I spoke to the Barclays associate she told my I could put £7100 ALL on one cheque. Even though those Cheques where for the 0% she told me that I could do the 6.9% offer and use the same Cheque.

So like I say in my previous posts it's Barclaycards 'F**kup' cos I checked and checked that's what I could do and the idiot on the phone said YES.

Anyway they are sending me more forms to fill out to dispute it but I may have to go back to the 0% offer?! Not sure what they are going to do. So my point is that if anyone wants this 6.9% offer just be VERY VERY careful if you speak to Foreign Call Centres because they seem to make mistakes, like they have done several times before with other things on my account.

Thanks