Barclaycard 25 Month Balance Transfer

pho

Hello
I applied for Barclaycards 25 month 0% balance transfer. They wrote to tell me I have been accepted for their card, but only on 12 month 0%! Feel a bit conned. I haven't had a chance to call them back and query, but just wondered if anyone else has experienced this and what you did?

BugsyBrowne

pho wrote: »

Hello
I applied for Barclaycards 25 month 0% balance transfer. They wrote to tell me I have been accepted for their card, but only on 12 month 0%! Feel a bit conned. I haven't had a chance to call them back and query, but just wondered if anyone else has experienced this and what you did?

If they've reduced your balance transfer wonder what your credit limit will be now.

stephane_2

They must have assessed your credit worthiness & decided to give you a different card. Maybe there was something on your credit file....

pho

stephane wrote: »

They must have assessed your credit worthiness & decided to give you a different card. Maybe there was something on your credit file....

That's what I'm starting to think. According to Credit Expert my rating is "Good" - I guess it needed to be "Excellent" :-(

May just accept the 12 months free 0% and make every effort to move to another 0% when the 12 months is up. Still feel conned though!

BugsyBrowne

pho wrote: »

That's what I'm starting to think. According to Credit Expert my rating is "Good" - I guess it needed to be "Excellent" :-(

May just accept the 12 months free 0% and make every effort to move to another 0% when the 12 months is up. Still feel conned though!

You'll need to get a default or go bankrupt to get an excellent score on Experian I'm afraid.

pho

BugsyBrowne wrote: »

You'll need to get a default or go bankrupt to get an excellent score on Experian I'm afraid.

Eh? How do you mean?

pho

also just read the letter from Barclaycard again. The Rep APR they are offering is 29.9%! The one I applied for was 18.9%

stephane_2

Good or excellent does not make any difference....Barclaycard is not interested with your Experian credit score, they have their own lending criteria....

BugsyBrowne

pho wrote: »

also just read the letter from Barclaycard again. The Rep APR they are offering is 29.9%! The one I applied for was 18.9%

They are giving you an initial barclaycard and expect the credit limit to be pretty poor.

stephane_2

They've given you their credit card for poor credit history....so you'll have 0% for the first 12 months but then it will jump to 29.9% after that....still 12 months at 0% is better than nothing. Just make sure you make at least the minimum payment each month without fail and apply with another provider after that time....

pho

Thanks guys. I'll take the card but will DEFINITELY switch after 12 months, otherwise I'll be in a worse position.