Barclaycard payment cockup- beware

CannyJock

Hammyman wrote: »

They keep upping my credit limit. I put absolutely everything on it so they get a lot out of the commission they charge the places I purchase from. 2.5% commission from what I put on it in a typical month is at least 25% more than the interest they charged me for last month.

My apologies for posting something that may have been a warning to others, CannyJock. I'll remember to keep it to myself in future. I thought this board was supposed to be about helping others. I didn't realise it was a board to be made a fool on.:embarasse:undecided

Posting a warning to others = good.
Posting a poorly informed righteous outrage rant = not good.

There's nothing in your post that is helpful to others, infact it misleads them on the way Barclaycard calculates interest.

In addition to mocking the tone of your post, I've also provided you with links to the Barclays FAQ confirming their interest basis, confirmation that Barclays haven't had any government funds, and detailed how you can make additional manual payments to your account to work around any maximum direct debit payment restriction. If the one thing you take from all that is that I'm not applauding your post then you won't survive long on a financial forum.

EDIT: For the record, they up your limit to tempt you to overspend and start a revolving balance. Your merchant fee, which most large retailers have negotiated down to 1% won't cover the cost of administering your account or come close to covering the cost of dealing with your phone call.

Hammyman

I take it that:


Please be nice to all MoneySavers : There's no such thing as a stupid question and, even if you disagree, courtesy helps.

...doesn't apply in this board?

CannyJock

Hammyman wrote: »

I take it that:


Please be nice to all MoneySavers : There's no such thing as a stupid question and, even if you disagree, courtesy helps.

...doesn't apply in this board?

I'm sure the CS person you spoke to where you "phoned them up full of p*** and vinegar" would have appreciated a bit of civility too.

If you have a look around some of the other boards, you will see that the Credit Card board can be a bit more hostile, and other boards are for group hugs and words of tender encouragement.

Reason for this is simple: Most of the 1 post wonders we get are asking for ways to avoid their responsibilities, or where they clearly haven't bothered to read their summary box - usually the posts are titled "Is this legal?". Occassionally we get inflamatory posts like yours by someone who doesn't understand how something works and then doesn't take kindly to being corrected.

Presumably you've now checked the links previously provided and realise that Barclaycard don't charge interest on average monthly balance?

no_more_cards_for_me

Hammyman wrote: »

Read the bit after "Now to the point of my post"

Hammyman wrote: »

I take it that:


Please be nice to all MoneySavers : There's no such thing as a stupid question and, even if you disagree, courtesy helps.

...doesn't apply in this board?

You set yourself up for the response.

CannyJock is quite right.

Perhaps you should check your facts prior to posting rants

BoGoF

Act like a fool.....be treated like a fool

Downsizing__for_sanity

Hi, new on this board, usually on the Old Style Board. (Where we like to keep things simple. Usually.) Apologies if I'm being a bit dim, but if you have more than enough to repay the last of your debt, then why not just pay it off with some of the money in your ISA? Maturity dates? (Genuine question - not trying to be smart. )

Unless you have an absolutely superb ISA deal, surely the interest you'd lose would be outweighed by the cost of paying any more late payment fees, should you forget again? And Barclays won't be "understanding" forever...

DFS

CannyJock

Downsizing__for_sanity wrote: »

Hi, new on this board, usually on the Old Style Board. (Where we like to keep things simple. Usually.) Apologies if I'm being a bit dim, but if you have more than enough to repay the last of your debt, then why not just pay it off with some of the money in your ISA? Maturity dates? (Genuine question - not trying to be smart. )

Unless you have an absolutely superb ISA deal, surely the interest you'd lose would be outweighed by the cost of paying any more late payment fees, should you forget again? And Barclays won't be "understanding" forever...

DFS

ISA rates being what they are, it's not a bad idea.

I'm dong a bit of juggling at the moment but not taking money from my cash ISA as part of the picture - on the cash ISA front I'm playing a long game and looking to maximise my pot for the future when interest rates eventually recover.

LillythePink

I had issues trying to pay all of my cards off a month or so ago - didn't help that Lloyds blocked my debit card as well as due to BC site - it said pay balance or what amount to pay so I chose balance and then it said that the maximum I could pay was 9,999! So, had to do that twice and then other amounts by their phone system payment (I was clearing 26k!)

So as it was just after the statement was produced I thought - yes clear! Erm...no - a statement arrived the following month saying that I still owed £150 approx in interest!

They said that it was on money taken out on the cards and that that interest still accrues from the statement date to the payment date - wasn't happy but couldn't wait to close the BC after that - I had held a BC for 22 years but no more - am cc free!