Barclaycard 22 month low transfer credit card problems

bluemiche

I have just applied for this card as it seemed like the very best deal to get me out of an imminent change from 0%. However, all is not as it seems because I tried to transfer £3000 which would qualify for the 1.6% rate only to find that they set my credit limit at £1200 and because I exceeded it all promotional offers are voided! Is this because I have poor credit rating already does anyone know? Or is it just some smallprint from Barclaycard that ensures they still charge 3.2%?

bengalknights

The limit will be set based on the criteria and your credit liability to income ratio, if its already to high they wont want the risk of giving a huge limit and facing a default.

In this case the only balance that should have been transferred was that to your credit limit and no more which has caused the void in agreement.

firsttimestudent

Bluemiche, did you mean you requested for £3000 of Balance Transfer during the application stage (before knowing your credit limit) - but later on, as you only got a limit of £1200, Barclaycard still transferred £3000?

When you said all promotional offers have been voided, do you mean Barclaycard charged you an over limit fee, as well as removed the 0% for 22 months?

Please let us know as it seems like very unreasonable - if you ask me!