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Barclaycard interest rate rise.

2

Comments

  • CannyJock
    CannyJock Posts: 3,838 Forumite
    1,000 Posts Combo Breaker
    ytfcmad wrote: »
    Thats not the point is it? What happens if i wanted to leave a balance for a few months?

    At a 5% increase, it would cost you an extra 0.4074% per month.
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • ytfcmad
    ytfcmad Posts: 387 Forumite
    Part of the Furniture 100 Posts Name Dropper
    YorkshireBoy wrote: »
    It wouldn't be if the Barclaycard was being reported to the CRAs! ;)

    My Barclaycard doesn't show up on Equifax or Experian, can you explain that?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ytfcmad wrote: »
    My Barclaycard doesn't show up on Equifax or Experian, can you explain that?
    Yes. Accounts opened prior to 1998 (when the DPA was revamped), and generally run well, are not reported because the T&Cs/privacy statements didn't allow for them to do it. Google 'white data' for more details.

    My Yorkshire Bank credit card (£8K limit, used once per year, 16.9% APR) doesn't appear; nor did my £5K O/D facility with them.
  • ytfcmad
    ytfcmad Posts: 387 Forumite
    Part of the Furniture 100 Posts Name Dropper
    YorkshireBoy wrote: »
    Yes. Accounts opened prior to 1998 (when the DPA was revamped), and generally run well, are not reported because the T&Cs/privacy statements didn't allow for them to do it. Google 'white data' for more details.

    My Yorkshire Bank credit card (£8K limit, used once per year, 16.9% APR) doesn't appear; nor did my £5K O/D facility with them.

    So if you ran a bad account they do submit info?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ytfcmad wrote: »
    They are increasing the interest rate by 5%!
    Assume you mean by 5 percentage points, not 5%? Because 5% of, say, 15.9% APR is next to nothing.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ytfcmad wrote: »
    So if you ran a bad account they do submit info?
    You'd need to refer to your account T&Cs, but yes some providers have a 'black data' clause on old accounts.

    After all, if they want 'black data' about you from any search they make of the CRAs then it's only fair that all lenders are expected to report it. Indeed, the 'principles of reciprocity' cover such data sharing. Google will provide more detail.
  • ytfcmad
    ytfcmad Posts: 387 Forumite
    Part of the Furniture 100 Posts Name Dropper
    YorkshireBoy wrote: »
    Assume you mean by 5 percentage points, not 5%? Because 5% of, say, 15.9% APR is next to nothing.

    Sorry yes, i think from memory it has gone from 14. something to 19. something. (Never looked at the rate before as always paid in full)
  • ytfcmad
    ytfcmad Posts: 387 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Im going to take them up on there very kind offer and close my account, i have one other dormant account and fancy a Tescos card anyway, there loss.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ytfcmad wrote: »
    fancy a Tescos card
    Fancy setting up a direct debit for paying it as well?
  • ytfcmad
    ytfcmad Posts: 387 Forumite
    Part of the Furniture 100 Posts Name Dropper
    YorkshireBoy wrote: »
    Fancy setting up a direct debit for paying it as well?

    Funny thing is when ever i had a balance on another card at 0% for 12 months etc i always set up a DD for a sum well above the min payment but in 23 years i never bothered doing so with my Barclaycard:rotfl:
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