Barclaycard

CTT_2

daveboy wrote:

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.

No logic to this apr increase. Ok in their eyes then I am a bigger risk to Barclaycard than your goodself. However when I enquirED about special offers on the account I am told I can have zero percent until November or 6,9 percent until life of debt. Also the max is 5k.

Yours totally confused.

grex9101

My platinum has gone from 17.9% to 22.9%.

Absolutely ridiculous - a 5% increase is HUGE.

And i've got a high balance so this is gonna hurt...

bunking_off

daveboy wrote:

but the letter I got mentioned the 2.25% repayment, the £12 charges, but no mention of an APR increase.

Ditto - no mention of APR change.

CTT_2

grex9101 wrote:

My platinum has gone from 17.9% to 22.9%.

Absolutely ridiculous - a 5% increase is HUGE.

And i've got a high balance so this is gonna hurt...

What have I got to moan about then. I had 8.5k on the card that was the amount outstanding on my car. I have cleared quite a bit and now down to 3k. I am however only 2.9percent for life of bt. The interest works out at about £6.00 per month.
The reason I was annoyed because the Plat mastercard would be affected if I used that. My interest would be 19.9 percent and cash 27.9.
I do have a cooperative plat card at 9.9 and cahoot 10.8.
I will keep my Barclycard Mastercard for any special offers that come along.

CTT_2

Re increase charges. Received message from Barclaycard.

quote
Thank you for your e-mail.

I am sorry to learn that you are unhappy with the recent changes in the
purchase and cash interest rates on your Barclaycard account.

The increase in purchase rates are part of our ongoing activity that we
always communicate through a Notice of Variation. The cash rate
increase has been driven by the announcement from the Office of Fair
Trade (OFT) that credit card issuers must decrease default fees.

Unquote.

Thanks to all of the disorganised people out there we all have to suffer.

Daft_Monkey

Without wanting to sound offensive to anyone, to my opinion people still holding Barclay's products (out of promotion periods etc.) are the bone headed ones. Interestingly enough I still hold my main account with Barclays, but now I have the excuse of their Regular Saver. I got rid of their Barclaycard years ago, as it was offering nothing to me apart from a high limit (rubbish interest rates, rubbish rewards, rubbish insurance).
My personal opinion is that they are not looking to recover the £18 they've lost as a result of the OFT ruling, but to cut down their losses from bad debts due to irresponsible lending.
My girlfriend is being charged £60 a month for going over her overdraft limit for few days, mostly her fault, bad management, not moving money from her savings account to meet the extra expenditure on time. She asked for a higher limit,an extra £150 on the £250 she already had, but they never bothered. They prefer the £60 they get in charges. Well my friends, I'll make sure she gets every single penny back with interest and deprive them from any income they can make from her. I'm so angry that I will also close my account with them once the Regular Saver period ends.
I will not sit idle when those close to me are being ripped off by Barclays or by any other bank or credit card.
Instead of the "those people claiming back charges etc are ruining it for us" attitude, keep in mind that the banks will always try and make money out of us no matter what and charge whatever they feel they can get away with, that being unauthorised overdraft charges, mortgage arrangement and redemption fees etc.

P.S Here's a thought: the extra interest is for the bubbly to celebrate 40 years of barclaycard.

cjcarden

We have all been advised not to pay only the minimum amount on our credit cards because it will take many years to pay the debt off, but some of us can only pay the minimum amount.

Barclaycard increasing the minimum payment amount up to 2.5% is a very disturbing move in my opinion. This is expecting people who are perhaps already in a debt crisis to find another 25% more cash each month than they can afford. I am sure that there will be many people worrying right now! I know because i am one of them. To make matters worse, the other credit card companies will probably follow there example eventually, adding to the problem.

It is interesting to note the change in the charge for not making at least the minimum payment has dropped from £20 to £12. Is this because Barclaycard anticipates that many people won’t be able to pay the increase. Does Barclaycard think that only fining customers £12 extra each month, rather than £20, they will object less ?

poppy_f1

yeah i got the letter in the other day as well, took one look at it and threw it in the bin, got a 0 balance at the moment but may be considering doing the 6.9% LOB from another card, or the account will be closing

CTT_2

cjcarden wrote:

We have all been advised not to pay only the minimum amount on our credit cards because it will take many years to pay the debt off, but some of us can only pay the minimum amount.

Barclaycard increasing the minimum payment amount up to 2.5% is a very disturbing move in my opinion. This is expecting people who are perhaps already in a debt crisis to find another 25% more cash each month than they can afford. I am sure that there will be many people worrying right now! I know because i am one of them. To make matters worse, the other credit card companies will probably follow there example eventually, adding to the problem.

It is interesting to note the change in the charge for not making at least the minimum payment has dropped from £20 to £12. Is this because Barclaycard anticipates that many people won’t be able to pay the increase. Does Barclaycard think that only fining customers £12 extra each month, rather than £20, they will object less ?

For clarification in my letter it said 2.25 percent. As they now regard some customers more riskier than others are they now saying for some the min will be 2.5 percent and the rest 2.25 percent.

Also Barclaycard have had to drop their penality charges hence the reason going down to £12.00. However because the min payment has been increased there will be customers who will have difficullty meeting the new payment. Barclaycard will slap the penality charge on them and the credit card co will still do very well out of.
it.

M_Thomson

Daft_Monkey wrote:

Without wanting to sound offensive to anyone, to my opinion people still holding Barclay's products (out of promotion periods etc.) are the bone headed ones.

I disagree when it comes to using them for Balance transfers they have had some great rates. I got 0% for the life of Balance only having to make a purchase of 1p a month. I also have been offered 2.9% for the life of the balance and other offers. Agree with you they are crap for purchase rates, but for balance transfers for existing customers they are pretty good.

Daft_Monkey wrote:

Interestingly enough I still hold my main account with Barclays

You could do a lot better, Alliance and Leicester have a 5% current account and 10% regular saver.