Barclaycard - GRIPE

Joe_Bloggs

11% twice sounds great. It's not as good as 0% they could have given you as a new customer. Try knocking the 11% down to zero or to 6.9% even 2.9 like many other customers get before calling 11% fabulous. Barclays are too tricky for me to even consider applying for any of their products.

If you do not owe them money and can pay the bill of every month then who cares what the rate is.
J_B.

PinkLipstickBabe

11% twice sounds great. It's not as good as 0% they could have given you as a new customer. Try knocking the 11% down to zero or to 6.9% even 2.9 like many other customers get before calling 11% fabulous. Barclays are too tricky for me to even consider applying for any of their products.

If you do not owe them money and can pay the bill of every month then who cares what the rate is.
J_B.

I agree with your point hon, but the superb 'rates' you quote there are usually given to new customers to attract custom. No credit card in the land will let someone stay on a 6.9% or 2.9% rate permanently. They would make no money and we all know credit cards are there for the issuer to make money! I still feel that 11% was a superb rate to be offered as an exitisting customer of 5 years etc. My 11% rate is for life, a special rate like you quoted would only be for a set period, so in the long run, would it really be better? Better to be on 11% forever rather than 6.9% for 6 months maybe then jump to their standard rate of 17.9% is it not?

Galstonian

I agree with your point hon, but the superb 'rates' you quote there are usually given to new customers to attract custom. No credit card in the land will let someone stay on a 6.9% or 2.9% rate permanently. They would make no money and we all know credit cards are there for the issuer to make money! I still feel that 11% was a superb rate to be offered as an exitisting customer of 5 years etc. My 11% rate is for life, a special rate like you quoted would only be for a set period, so in the long run, would it really be better? Better to be on 11% forever rather than 6.9% for 6 months maybe then jump to their standard rate of 17.9% is it not?

Exisiting customers who ask for more sometimes get more, your post demonstrates this. An 11% rate is dreadful when you consider a 4.5% base rate but if it is "for life" as you suggest then it may be okay of we ever have another period with excessive rate hikes. The Co-Op were (may still be) offering a fixed forever rate card some time ago, I think it was less than 11%.

Of course in the long run it is best to live within your means and never to borrow any money on credit cards that will incur interest.

PinkLipstickBabe

Exisiting customers who ask for more sometimes get more, your post demonstrates this.  An 11% rate is dreadful when you consider a 4.5% base rate but if it is "for life" as you suggest then it may be okay of we ever have another period with excessive rate hikes.  The Co-Op were (may still be) offering a fixed forever rate card some time ago, I think it was less than 11%.

Of course in the long run it is best to live within your means and never to borrow any money on credit cards that will incur interest.

I agree hon, and you are right, the Co-Op via their online bank 'SMILE' did offer a low rate for life. I am a member of SMILE and my Smile Gold Card has a permanent rate of 9.9% for life. Obviously, this is better than the Barclaycard 'for life' rate of 11% and I also get cash-back on the Smile Gold Credit Card. This is why if I am using a card that I won't pay off in full, I use my Smile Gold rather than either of the Barclaycards. However, to get a 11% rate of barclaycard is an achievement as everyone else seems to have had so many problems with them.
Regards to interest rates in general, I think all credit cards charge unfair interest rates when compared to the Bank of England base rate. So why do any of us use credit cards? I guess that's a question we all need to ask ourselves, but I for one, couldn't live nor would want to without mine. I rarely don't pay off balance in full but if I need 'quick' credit it's there. Used wisely, they are brilliant, used badly, they ruin lives.
If you check my earlier posts, you will see I have just been accepted for a Citi Platinum card with a 0% rate for 6 months, so I do take advantage of 0% deals ;D

Joe_Bloggs

Credit card companies pay me money because I chop and change.
Capital One are offering a 5.9% variable flat rate (Non introductory).
It sounds like you are a victim of consumer inertia. This is how financial institutions make their money by offering poor deals to existing customers. This was the gist of Martin's spot on 'Tonight with Trevor McDonald'.

It is easy to become a victim of consumer inertia as  change is much harder than doing nothing.
J_B.

PinkLipstickBabe

Credit card companies pay me money because I chop and change.
Capital One are offering a 5.9% variable flat rate (Non introductory).
It sounds like you are a victim of consumer inertia. This is how financial institutions make their money by offering poor deals to existing customers. This was the gist of Martin's spot on 'Tonight with Trevor McDonald'.

It is easy to become a victim of consumer inertia as  change is much harder than doing nothing.
J_B.

I TOTALLY agree Joe! Guilty as charged! But am trying to forget loyalty to companies I have been with for a long time which is why I am now getting new 0% cards and chopping and changing my credit cards to benefit me not the card company. Thank You for your excellent comments xx

andrewbro

I wanted to transfer my balance from another card to Barclaycard and they said that I could not because of my credit rating. I checked my rating and this was clear. When I tried to complain about being refused they were extremely unhelpful so I decided to cancel my card. When I told them this they tried offering me a balance transfer, however by then I had had enough and told them I was going to cancel my card anyway as I had got another card with 0% on balance transfers. However in your case it may be worth threatening to cancel your card to try and get what you want.

M_Thomson

I agree hon, and you are right, the Co-Op via their online bank 'SMILE' did offer a low rate for life. I am a member of SMILE and my Smile Gold Card has a permanent rate of 9.9% for life. Obviously, this is better than the Barclaycard 'for life' rate of 11% and I also get cash-back on the Smile Gold Credit Card. This is why if I am using a card that I won't pay off in full, I use my Smile Gold rather than either of the Barclaycards. However, to get a 11% rate of barclaycard is an achievement as everyone else seems to have had so many problems with them.
Regards to interest rates in general, I think all credit cards charge unfair interest rates when compared to the Bank of England base rate. So why do any of us use credit cards? I guess that's a question we all need to ask ourselves, but I for one, couldn't live nor would want to without mine. I rarely don't pay off balance in full but if I need 'quick' credit it's there. Used wisely, they are brilliant, used badly, they ruin lives.
If you check my earlier posts, you will see I have just been accepted for a Citi Platinum card with a 0% rate for 6 months, so I do take advantage of 0% deals  ;D

"No credit card in the land will let someone stay on a 6.9% or 2.9% rate permanently."

Barclaycard have an offer of just that 2.9% for the life of the balance transfer for existing customers.

With regards to the above, the Smile rate is not set at 9.9% for life. It has been kept at that rate by them since they launched, but it is still variable.

M_Thomson

I wanted to transfer my balance from another card to Barclaycard and they said that I could not because of my credit rating. I checked my rating and this was clear. When I tried to complain about being refused they were extremely unhelpful so I decided to cancel my card. When I told them this they tried offering me a balance transfer, however by then I had had enough and told them I was going to cancel my card anyway as I had got another card with 0% on balance transfers. However in your case it may be worth threatening to cancel your card to try and get what you want.

I did the same thing, the didn't let me do a transfer at 2.9% because they said I had a bad credit rating which is rubbish as I have never missed a payment or had any problems with cards. I then asked to cancel my card, and all of a sudden, they said, we can do you the transfer at 2.9% now. I think they use the credit rating excuse as a smokescreen sometimes. I think they give it to customers who are likely to spend monthly on the card as well as have the 2.9% interest so that they make money on the monthly spend at the standard rate. Of course I won't be doing that ;D

Leia_Stephens

 I then asked to cancel my card, and all of a sudden, they said, we can do you the transfer at 2.9% now.  

That sounds like Barclays .