Offer from Barclaycard

OverspendFool

Just wondering if anyone else has had this offer from Barclaycard.
I'm currently 3 years into a 6 year DMP with CCCS and still owe 5K on a Barclaycard VISA and the same on a Mastercard.
I received a letter this morning stating they were going to re-issue me with a VISA card and give me a credit limit of £500 over what I still owe them.

I've promptly rang and said "thanks but no thanks" as it was partly due to the easily given credit that I got into my overspend mess.

As my partner said, are they stupid???

hmpmdo

I''ve had a letter from them today too

Have been making reduced payments with them for 4.5 years now - didn't go through anyone, negotiated a plan with all my creditors direct.

I have just over £2200 left to pay to barclaycard and they are offering me a credit limit of £2700

Still making my mind up if I'm going to accept or not.

If I accept the offer they have put on the table but continue to make the same payment I have been for the last year (which is more than the minimum monthly payment would be), then it will take me roughly 6 months longer to pay off the debt.

At the moment I am fixed to paying a certian amount but I could reduce my payment to the minimum for a month or 2 to cover any unforeseen bill if necessary

I don't have to activate any card I recieve but I do worry sometimes that I have nothing to act as a buffer if there ever was an emergency so it would be nice to have one there "just in case". I needed a new washing machine last year as mine died on me, washing everything by hand whilst I saved up for one was a nightmare

I'm thinking that it may be a start to also help me rebuild my credit rating, not that I have any plans to take out any loans or anything but you never know what the future will hold

fermi

Barclaycard have lost/destroyed a lot of original signed credit agreements.

So perhaps they are trying to get you to effectively agree something new to get around that?

They have been stung a lot.

What is effectively a "new" agreement would be enforceable in court even if you didn't sign it, whereas an old one from before April 2007 would not be.

May not be anything to do with that, but Sharkleycard are sneaky sods.

I certainly would not agree to anything new on any terms.

costaerer

Did your card come?

Alex_the_lad

Sorry just Tagging along on this thread. Regarding the comment about agreements have people been having sucesses with them on the basis of BC not being able to enforce debts? Worth a SAR maybe!

nanna58

maybe they are just trying to get hold of your signature

costaerer

i also got this same letter yesterday. my balance is £410 and they are increasing my credit limit to £900. seem to have a general £500 credit limit increase.

cant see any other reason otherthan the fact they have no cca. because why would they give you more credit.

Choc-addict

I also got this letter - on reduced interest plan..... I opted to stay as I am as happy that I never want to use credit again!

Also be VERY careful as if you opt to take it by how I read the letter the rate of interest you are also being charged changes (be it going up!).....NO THANK YOU!

costaerer

YUP. mine was to 15.9% , but originally when i took the card i think it wass about 27.9%.

but this is more than what im paying on dmp