Barclayloan

DilbertJones

I have a bog standard Barclay loan taken out in Dec 03 Started repayments Jan 04

Now then I dont have a lump sum to pay this off all at once at the moment, current out standing balance is approx £2700

However i do currently have £750 and am able to make small iregullar extra payments which will prob grow each time i amke them, so i called Barclays to enquire if this was possible, they informed me the payment would be rejected.

But I sent a payment of £1 to my loan account & it worked, it was accepted so where do I go from here?

Shall i put the £750 into the account, is it worth it? They charge interest daily so surely thats related to the balance of that day.

Barclays keep saying put it into a savings account, so you can earn interest, if only a savings account would pay 18.9%!!!

andymac746

Can you not just get another loan but flexible like cahoot or egg and they have a better rate e.g 12.9% egg. That way your paying less a month over the same term and are able to overpay.

DilbertJones

Good thinking, I will consider that, I have just recently applied for 2 credit cards, Morgan Stanley £2800 Limit & Egg £2250 Limit, is this likely to go against me? or should i wait a few months

roswell

barclays have a loan rate of 6.9% for existing customers Only :-) say it in one of there branches this morning

DilbertJones

is there a minimum loan for that?