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Barclaycard
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Ah it's OK mother has just come around and we're on the phone to them now. They've done it
APR is now 13.9% like it was in 2003.
Good
So your mother had an arrangement to pay with barclays,and all of a sudden she now has a better APR rate then every mainstream card out there..
Sorry that is to way off the mark to believe that..
Its basically barclays saying thanks for not keeping up payments with us just for you we will give you a better apr than the other millions of customers we have..0 -
So your mother had an arrangement to pay with barclays,and all of a sudden she now has a better APR rate then every mainstream card out there..
Sorry that is to way off the mark to believe that..
Its basically barclays saying thanks for not keeping up payments with us just for you we will give you a better apr than the other millions of customers we have..
Yes, I'm sure they get their entertainment by discussing their mothers imaginary finances...
On a completely unrelated topic, when did "..." become ".."? I know its not important whatsoever, or even makes the slightest difference, but I keep seeing it and its irritating me for some reason!0 -
callum9999 wrote: »Yes, I'm sure they get their entertainment by discussing their mothers imaginary finances...
On a completely unrelated topic, when did "..." become ".."? I know its not important whatsoever, or even makes the slightest difference, but I keep seeing it and its irritating me for some reason!
Strange have you been drinking..0 -
So your mother had an arrangement to pay with barclays,and all of a sudden she now has a better APR rate then every mainstream card out there..
Sorry that is to way off the mark to believe that..
Its basically barclays saying thanks for not keeping up payments with us just for you we will give you a better apr than the other millions of customers we have..
I don't think you understand.
They had not charged her a penny interest for seven years because she was suffering financial hardship and they agreed a reduced payment plan in exchange for stopping interest charges.
She is now in a better position and asked for Barclaycard to resume charging interest and raise the minimum payment to what it should be as per the credit agreement as opposed to the lowered minimum payment that was agreed when they set up the AP in 2003.
All she wanted them to do, was increase her minimum payment from 1% to 2.5%, and have them start charging interest again - both in the best interest of Barclaycard because
a) They earn interest from her once again
b) They receive more money from her each month
Now as strange as it may seem to you, a customer asking a credit card company to resume the original credit agreement that both parties agreed to shouldn't be something a card company balks at when said company have made no money whatsoever off the customer in seven years. An arrangement is exactly that - an informal agreement made between a creditor and customer which either party may terminate at any time. This is the definition of an AP.
In regard to the interest rate remaining at 13.9% -
As you well know, for a customer to opt out of interest rate increases, they have to close their account - preventing further spending on the account - and the APR will remain the same.
As my mother closed the account - preventing further spending - in April 2003, she is immune from APR increases from this date onward, as per the government issued best practices I quoted, verbatim, in my letter viewable in the first post.
Maybe re-read the letter and this post and you'll have a better understanding of the issue and outcome.Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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The whole point of this exercise is to get her the remortgage she so desperately needs to keep a roof over her head and get away from B&M's awful tracker which is charging an SVR of 3.79% - bonkers with the base rate so low.
That's a joke right? have you bothered to look at anyone else's SVR before posting such?
Skiptons 5% springs to mind...Thinking critically since 1996....0 -
callum9999 wrote: »Nope, and its been irritating me for months now (not badly obviously but I don't get why people only use 2 dots, maybe you can explain?).
And so it should irritate you. Two dots is just two full stops, which is grammatically incorrect. Three dots is an ellipsis, which is a valid punctuation mark. I can only assume it's laziness.
Almost as irritating is the misuse of apostrophes, one of which you missed in your first sentence.
Glad you got your mum's issue sorted, izools.
KiKi' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0 -
I don't think you understand.
They had not charged her a penny interest for seven years because she was suffering financial hardship and they agreed a reduced payment plan in exchange for stopping interest charges.
She is now in a better position and asked for Barclaycard to resume charging interest and raise the minimum payment to what it should be as per the credit agreement as opposed to the lowered minimum payment that was agreed when they set up the AP in 2003.
All she wanted them to do, was increase her minimum payment from 1% to 2.5%, and have them start charging interest again - both in the best interest of Barclaycard because
a) They earn interest from her once again
b) They receive more money from her each month
Now as strange as it may seem to you, a customer asking a credit card company to resume the original credit agreement that both parties agreed to shouldn't be something a card company balks at when said company have made no money whatsoever off the customer in seven years. An arrangement is exactly that - an informal agreement made between a creditor and customer which either party may terminate at any time. This is the definition of an AP.
In regard to the interest rate remaining at 13.9% -
As you well know, for a customer to opt out of interest rate increases, they have to close their account - preventing further spending on the account - and the APR will remain the same.
As my mother closed the account - preventing further spending - in April 2003, she is immune from APR increases from this date onward, as per the government issued best practices I quoted, verbatim, in my letter viewable in the first post.
Maybe re-read the letter and this post and you'll have a better understanding of the issue and outcome.
I might try this then with barclaycard..0 -
And so it should irritate you. Two dots is just two full stops, which is grammatically incorrect. Three dots is an ellipsis, which is a valid punctuation mark. I can only assume it's laziness.
Almost as irritating is the misuse of apostrophes, one of which you missed in your first sentence.
Glad you got your mum's issue sorted, izools.
KiKi
Kiki i am not at school i left 14 years ago its nothing to do with laziness,i cant be that lazy if not i would of put one full stop instead of two..
Callum i dont really know why i put two or three full stops at the end of my sentences...0 -
Kiki i am not at school i left 14 years ago its nothing to do with laziness,i cant be that lazy if not i would of put one full stop instead of two..
It was a tongue-in-cheek post that wasn't aimed at you - I said nothing about you nor about being in school. Don't take me so seriously!
KiKi' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0
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