What's BarclaYCard upto?

nads

Barclaycard customers who pay their bills in full each month may have their payment date suddenly brought forward, the bank has told the BBC.

See http://news.bbc.co.uk/1/hi/programmes/moneybox/4681228.stm

I swear one half doesn't know what the other half is doing... They evne have a flexi-rate card that charges you less interest if you more on time... bloody fools

Mark7799

Why would anyone want to use a Barclaycard at present - the rates aren't market leaders and there's no other incentives for those of us who don't borrow on them?

wigginsmum

I think they're hoping people won't send payment in time so they can charge them. Let's face it, they don't like people who pay their bill on time - how else can they make money from them? But what a peculiar way to go about it - if I had a Barclaycard, I'd be feeling penalised for being responsible wit my money, so I'd close my Barclaycard and go elsewhere. By going public with this scheme, I think/hope they'll lose custom. Maybe eventually they or someone will make it impossible to clear your balance fully every month so you're forced to pay at least some interest.

nads

I've got a BarclayCard, I don't have a terrible credit "ratign" but I am trying to build it up by using it and paying all in full, I do have a DD setup but I do feel other people who have pporrer ratings or dont keep an eye on their bill might end up being stung.

It's just a ridiculous concept, to hope to get rid of customers who pay on time or hope to maek money out of customers who don't clock on to the pay date being changed by possibly more than a week.

grrrr

$17mma

http://forums.moneysavingexpert.com/showthread.html?t=146759

here is one of them

Curry_Queen

From the BBC webpage:

"When I looked at all my previous statements and my February statement, all the payments were required on the 9th of the month. The only one which is not is the December statement which requires payment by the 3 January.

Justin believes Barclaycard has a policy to maximise penalty payments, and he was concerned the company was doing it during the holiday period when banks are often shut."

Exactly the same thing happened to me as going by previous months I was expecting to pay December's statement around the 6th January, to reach them by payment date of 9th, but the statement asked for payment to be made by 3rd January instead! :mad:

The only way this would reach them in time (bank transfer) because of the holidays was if I paid on 28th December, which I did, but I wonder how many people got caught out with late payment charges because of this :rolleyes:

I've just this week received my new shiny Lloyds Advance card with 0% interest and a great credit limit so Barclaycard will be going into the shredder when I've paid off this month's statement

dc

MBNA started doing this in October, by suddenly bringing payment dates forward by 7 days , which is a week and a half! in banking day terms. And they dont discriminate against full payers, it applies to all. :mad: Purely to make money from late payments.

( Obviously B/C see this as a missed opportunity.)

Ever since they (MBNA) move it forward 2 days a month, each month.
I suppose the next will be a 28 day month.:rolleyes:
So the MBNA ship is not one to jump to.

I suppose the only way forward is with the dreaded min dd.

dc

grumbler

dc wrote:

... the only way forward is with the dreaded min dd.

If you dont pay full balance on time you lose interest free period next month and will be charged interest on each purchase from the day of transaction.

magentadreamer

I think Barclays is the only card that's openly admitted to doing this. I've had a Sainsburys card for years -for the Nectar points. I always pay this of in full each month. Over the last year I noticed the date the statement was made up gradually change. It was always 18 0r 19th of the month. Last statement it was 22nd. The date payment was needed by always stayed the same. And really was a very short period of time around the 8th of the month. I got my Halifax Card statement run by same group as Sainsburys. Statement date 27th payment needed by 21st of the next month. It would seem some lenders are more generous then others even within the same card group!

DJ1UK

dc wrote:

MBNA started doing this in October, by suddenly bringing payment dates forward by 7 days

Yeah I noticed this, last month. My minimum payment by direct debit would not have cleared by the due date. It had cleared in all months prior to the due date.

Have to keep a close eye on the payment dates from now on.

DJ

dc

DJ1...?,,

You should be OK as it is MBNA's responsibility to collect the dd on time..
I didnt use dd's on principle so they caught me twice, got off both late payments, but the second one was a struggle, threatening to close account didnt work, only paying 99% did.

Sorry Grumbler, wasnt thinking of Tarting/Stoozing consequences of late payment, which are more dire and " the end of a beautiful relationship" with 0%

dc