Barclaycard end cash advances

MABLE

However BC say that you can withdraw cash abroad.

movieman

If Barclaycard think I'm a bad risk, why are they still willing to let me spend £1500 of their money on consumer goods, with absolutely no guarantee that I'll ever pay it back?

One thing to consider is that if you're in financial trouble and spend 1500 pounds on consumer goods, at least the bank will probably have something for the bailiffs to take when they come around after you default... if you take out 1500 in cash and bury it in the garden, then they'll get nothing.

Also, people in real financial trouble are more likely to be withdrawing money to pay their mortgage or whatever than to go out and buy 1500 pound TVs.

Watson

movieman wrote:

One thing to consider is that if you're in financial trouble and spend 1500 pounds on consumer goods, at least the bank will probably have something for the bailiffs to take when they come around after you default...

That's a fair point, and one I hadn't thought of.

...if you take out 1500 in cash and bury it in the garden...

Funnily enough, that's not what I was planning to do...

Watson

thesaint

MABLE wrote:

However BC say that you can withdraw cash abroad.

They may well do, but they can change their minds to protect their interests.
I can see other card issuers going down this route.

mozzer251

Other card companies have put measures in place that are less drastic. Citicard have a 60% of credit limit maximum for cash advances....

movieman

Funnily enough, that's not what I was planning to do...

I was using 'you' in the generic sense; but I'm sure some people have done exactly that in the past when they knew they were going to be in severe financial problems and/or go bankrupt.

Watson

Bizarrely, Barclaycard told me today that I could in fact withdraw cash at any ATM, at 19.1% plus a handling charge. Either things have changed in the last few days or the person I spoke to today simply got it wrong.

I also asked about balance transfers and was told I wasn't eligible because I haven't used the card for any transactions over the last twelve months. "Go out now and withdraw five pounds," the helpful lady said, "and then ask again - you'll get your transfer!"

Watson

thesaint

From the length of time between your original post and this, I assume that your emergency is not an emergency, but an ongoing situation like I assumed in post#2 on the 15th Jan.

Watson

Your assumption is completely incorrect.

And though I assume that your repeated comments are intended to be helpful, frankly I find your attitude unwelcome and somewhat insulting, which is a pity given the generally extremely friendly and supportive nature of this site and the vast majority of its members.

Watson

pudding06

I like most people have had emergencies, but I can honestly say that I have never had to make a cash withdrawal on a credit card to avert disaster.

I have and it was an extreme emergency - one I never want to live thru again in my lifetime -

luckily I phoned B'Card from abroad, no cash at all , just a phone card and they gave me some hope. They gave me an increase on my credit limit ( I had money in bank but no access to it) so I could withdraw it.
I think sometimes its easier to speak to someone on theother end of the phone and explain the circustances. B'card couldnt have been more helpful and understading at our prdicament.
pudds