We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Barclaycard Rate Hike Help
Chuddles
Posts: 47 Forumite
in Credit cards
Hi all,
I'm hoping somebody can help as I appear to be hitting a brick wall arguing with the Barclaycard Customer service team.
They've served the letter letting me know there will be a rate increase. I have called to reject and ask them to close the account, but my issue is this...
I have a Flexi rate card offering 3 tiers of interest depending if I pay 2.5% 5% or 10% of the balance each month. I am being told by Barclays that if I reject the increase I will be held at the higher rate of my flexi interests with no change no matter how much I pay per month.
As I read the statement from the Financial Ombudsman I can reject the increase and retain my existing rate of interest. My existing rate of interest being the three tiers dependant on how much I pay per month.
It seems as even if I reject the increase I am being forced to accept an increase as I lose my ability to drop the rate by 5% when paying more of the balance.
I'm hoping somebody can help as I appear to be hitting a brick wall arguing with the Barclaycard Customer service team.
They've served the letter letting me know there will be a rate increase. I have called to reject and ask them to close the account, but my issue is this...
I have a Flexi rate card offering 3 tiers of interest depending if I pay 2.5% 5% or 10% of the balance each month. I am being told by Barclays that if I reject the increase I will be held at the higher rate of my flexi interests with no change no matter how much I pay per month.
As I read the statement from the Financial Ombudsman I can reject the increase and retain my existing rate of interest. My existing rate of interest being the three tiers dependant on how much I pay per month.
It seems as even if I reject the increase I am being forced to accept an increase as I lose my ability to drop the rate by 5% when paying more of the balance.
Proud to Be Dealing With My Debts! (Since July 2011;))
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards