Challenge Interest Charges - Even when they are right

pob100

"Once we recognise that someone is regularly paying their bill in full, we will shorten the time that they have got to pay a little", Ian Barber, Barclaycard.

Now they may argue that this is just about shortening the interest free period, but have no doubt that they did their spreadsheet work and saw that this would trip customers up for late fees.

Call_Centre_Monkey

Right, but what's that really got to do with the Christmas period specifically? They'll be doing that all year round (probably automatically), rather than just saying it's December time guys, time for our yearly shortening of our payment period.

pob100

The example they used in the story was over the Xmas period. Perhaps you are right and they do this all year round. I don't think that's much of a defence though. They've targeted certain customers and treated them differently to other customers in order to attempt to trip them up for late fees. Personally, I think that is scandalous behaviour, whether it was in their T&Cs or not.

maggieS_2

Not sure if this fits in here but I've just discovered that Morgan Stanley have charged interest on my cc account this month. I always pay off the balance and in good time, so rang them to complain. They told me that they have a problem in their system and incorrect interest is being wrongly charged to many customers! Although the amount will be refunded next month, I would have paid it if I hadn't spotted it and I wonder how much they will make from customers who simply pay their account as it stands. (I'm going to deduct it from the account balance). Incidentally, there was no apology and I think they were slightly irritated that I had bothered them.

domestic_goddess

Am i reading your post wrong you say your balance is 5379.00 and your min payments are £56 - this is 1% of your balance not 10%. This is less than the minimum payments stated in their terms and conditions that you listed

bengal-stripe

Josie64 wrote:

Barclaycard that they have not stuck to these terms and conditions , they have been asking me for £56 a month , which they say is 10% of the balance, that is the minimum they can accept. surely we can argue that the minimum they have got accept is £5 or a percentage of 5379 depending on what card I have??

You owe 5379.13

2.25% of 5379.13 = 121.03
3% = 161.37
10% = 537.91

You are asked to pay just over 1% of the balance.
Or is the balance only 537 quid?

linniestorm

Josie64 wrote:

I'm not sure which card I have ...

Not meaning to be funny but I think you should find that out straight away!! How do you know what your t's & c's are and what your obligations are if you don't know the name of the card you have!! Give their customer services a quick ring, they'll be able to tell you. It's probably even more important in these days of differing t's & c's for multiple cards from the same lender.