Barclaycard

CTT_2

Yesterday I received a letter from Barclaycard advising me that the min payment has been increased to 2.25 percent. Also my APR on the Plat visa and mastercard has gone from 17.9 to 19.9 and cash advances to 27 percent.
However it will not really affect me because on the plat visa I have a bt for life of debt at 2.9 percent. My question is has anyone else received this letter or perhaps they regard me as one of their riskier customers and I have been singled out.

linda-ann

I also got a letter from Barclaycard increase of min payment to 2.25% also interest on cash balance increase from 21.9% to 27.9% massive 6%.
I asked if my interest could be reduced 4 month ago and they reduced the interest on the standard balance but not the cash balance but they are now taking it back by putting up the interest on the cash balance.My card is a gold one

jonesMUFCforever

They are all doing it!!
It is of course nothing to do with having to reimburse idiots who have incurred 'unlawful' credit card charges.
Did you really think that banks were just going to take the hit without fighting back! It will be current accounts next!!

CTT_2

linda-ann wrote:

I also got a letter from Barclaycard increase of min payment to 2.25% also interest on cash balance increase from 21.9% to 27.9% massive 6%.
I asked if my interest could be reduced 4 month ago and they reduced the interest on the standard balance but not the cash balance but they are now taking it back by putting up the interest on the cash balance.My card is a gold one

I have now phoned them and they said the rise was generic. They did however advised me I have offers on my cards for bt. I could have 6.9 with no fee or zero percent until November but does carry a 2 percent fee.

linda-ann

I have checked my barclaycard on line and guess what they have also increased my credit limit must be hoping I will spend more with an increased interest rate ,right I think not ! God loves a trier as they say lol.

CTT_2

linda-ann wrote:

I have checked my barclaycard on line and guess what they have also increased my credit limit must be hoping I will spend more with an increased interest rate ,right I think not ! God loves a trier as they say lol.

I have just checked my cahoot cc and cooperative there apr is only 10.8.
Barclays must be having a laugh. However it will not be at my expense.

GUMPO

The people that have managed to claim back bank charges and compensation for missold endowmants have put interest rates up for all of us. They might have a case in a court of law but to my mind do not deserve a penny for being too bone headed to read the small print in the first place. When I use my bank and credit cards I am fully aware of the charges the bank will apply to me (lawful or not) if I do not adhere to the conditions.

CTT_2

Gump

Exactly my thinking. Ok the charges may be excessive but they still breached the banks terms and conditions. Now we are all having to pay.

mountainofdebt

not really worried as he a lifetime balance rate of 6.9%.

The_Boss

GUMPO wrote:

The people that have managed to claim back bank charges and compensation for missold endowmants have put interest rates up for all of us. They might have a case in a court of law but to my mind do not deserve a penny for being too bone headed to read the small print in the first place. When I use my bank and credit cards I am fully aware of the charges the bank will apply to me (lawful or not) if I do not adhere to the conditions.

Exactly. It makes me mad when I hear them running around shouting "punitive unproportional unlawful unenforceable charges" when a few months ago they probably didnt even know what those words meant. If people are having to claim back hundreds, it just shows that they shouldnt be trusted with further credit or anything else if they cannot abide by their terms and conditions.

daveboy

Not that it matters as my balance is zero, and I'm closing the account soon (did have a balance transfer at 0% until February), but the letter I got mentioned the 2.25% repayment, the £12 charges, but no mention of an APR increase.

They sent my statement separately in the same post....cash advances @ 21.9% and purchases @ 14.9%.

Looks like they've picked you out because they've not done it to me.