Barclaycard for life 0% update info needed

Thorrrr

Hi all

Please can anybody update me what Barclaycard are doing with the 0% for life card. I had a card from the inception at 0 % for life. I was really tight and paid .50p to a charity as I got the minimum spend of £0.01p card offer. So I paid my .50 charity and my 1.019% interest which equated to .50p.

I have noticed my payment from Oct has gone to a £1 interest. The interest rate has gone to 1.167%!
So what is the current situation on the 0% offer for life? I have searched on the forums but very confusing info some members are saying the 0.01p has gone to £1 not had anything from BC on that issue.

Also my partner got a card at the same time as myself and the interest on that card has gone from 1.019% to 1.167% and now to 1.385%

Is it worth ditching the card or is BC just adding extra % without notice??

Any member with the update please advice me with the current situation

Cheers Thorrrr

tobago22

I am in exactly the same position with a 0% for life of balance deal and minimum £1 spend. Have just phoned Barclaycard to ask about increase in interest on standard balance. They claim to have informed me of increase in a letter in September. Would not accept that I have not received the letter.
Finished up banging my head off nearest brick wall.

Chris2000

I have the card with no minimum spend. This has not changed. Some people got a slightly different offer with a minimum spend of £1 a month, but if you applied when there was no minimum then 50p or even 1p per month is enough to keep the 0% offer going.

They did increase the interest rate last year, and increased the minimum interest charge from 50p to £1. I definitely got advance notification in a letter.

I would not cancel this card. If you keep the standard balance small by spending just 50p a month, and only pay the minimum amount, then it will take another 6 years or so before the interest you pay on the standard balance exceeds the interest you're earning on the 0% balance. Only then will it be worth paying off the remaining amount.

Milarky

Agree with Chris2000 100 percent. As long as you spend the minimum each month the 0% balance comes down gradually but it will be 6-7 years before the accrued 'standard balance' (at say 17.9) completely cancels out the interest you earn on the 0% balance. Only at that point do you need to pay it off. [At that stage the 0% balance would be down to about 4 times the accrued standard balance.]