Are Barclaycard completely inflexible ?

rocco1504

I ask the above question, as I have just spoken to their customer services dept, thinking I would take this website's advice, and ask if they would lower the interest rate on my card. 29.9% by the way, plus we are not talking many thousands, just over £2000.

They point blank refused, I should point out that I am not currently working but make sure that I usually pay at least triple the minimum payment every month, and have done so for at least the last year, if not longer.

The person said it was not possible to do it on that account, so I pointed out that I was a good payer, and had never given them any cause for concern, and didn't they take that into account at all ?, she just said "we used to, but not now", and that was that, she wouldn't move at all..

When did Barclaycard become so inflexible ?

Plus, it might be an idea to remove that particular piece of advice.

Saints2011

Im pretty sure they are correct, the only thing I would say is that if they were increasing the interest rate you could put a freeze on your existing card if you agreed not to use if for spending, but the apr is in the Ts & Cs.

Although I do agree that Barclaycard are complete and utter useless !

Fruit_and_Nut_Case

rocco1504 wrote: »

[...] this website's advice [...]

rocco1504 wrote: »

Plus, it might be an idea to remove that particular piece of advice.

Do you have a link to that advice? I'd be very interested in reading exactly what it says. Thanks.

rocco1504

Fruit_and_Nut_Case wrote: »

Do you have a link to that advice? I'd be very interested in reading exactly what it says. Thanks.

Yes it's here, well I would post it, but I'm not allowed to post links, in case I'm a Spammer, but it's on a page entitled "
Credit Card Shuffle




If you click the link at the top that says "Ask them to cut the rate"
although you'll probably tell me that I've completely misunderstood what is being said or something.

Hax

I think that you've misunderstood it a little. The article isn't specific to Barclaycard - it's meant to offer a general list of options relating to all credit card companies.

There's no guarantee that the technique will work - but for some it may do.

FWIW1: You have the right to reject future rate increases upto 60 days from the date of notification. At this point, the account is closed to new transaction but remains open at the existing rate for you to repay the debt.

FWIW2: Asking credit card companies to reduce the APR (particularly if you have a high(ish) balance) may send the wrong signal to the lender - they may think that you are struggling and as a result re-evaluate your agreement and credit record. This could result in them concluding that you are a higher risk and they may start reducing your credit limit and/or increasing your rate.