Barclays Credit cards

Greasemonkey_2

Hi all,
My parents are in their seventies and have 2 credit cards which they are finding difficult to pay off. One is from Barclaycard the other was from what was then Goldfish ( I think it's now owned by Barclays). on their current income they have been paying back just above the minimum amount on both for about 10 years! The balances are £1300 on one and £1700 on the other. At this rate they'll never clear them. They have been looking to swap to an interest free card deal but due to a less than sparkling credit history ( 0ne or two late payments over the years, never non payments though) no cards will touch them , same goes for loans. have asked their Barclays branch for help but they dont semm to want to know. Unfortunately I'm not in the position financially to help them out at the moment. Can anyone offer any advice? Thank you.

[Deleted User]

What are the rates on each of the card? It may make sense to BT one to the other, if there is enough of a difference.

Have they opted out of any future rate increases?

BugsyBrowne

Greasemonkey wrote: »

Hi all,
My parents are in their seventies and have 2 credit cards which they are finding difficult to pay off. One is from Barclaycard the other was from what was then Goldfish ( I think it's now owned by Barclays). on their current income they have been paying back just above the minimum amount on both for about 10 years! The balances are £1300 on one and £1700 on the other. At this rate they'll never clear them. They have been looking to swap to an interest free card deal but due to a less than sparkling credit history ( 0ne or two late payments over the years, never non payments though) no cards will touch them , same goes for loans. have asked their Barclays branch for help but they dont semm to want to know. Unfortunately I'm not in the position financially to help them out at the moment. Can anyone offer any advice? Thank you.

You get a 0% card and let them pay you.

Greasemonkey_2

BugsyBrowne wrote: »

You get a 0% card and let them pay you.

Unfortunately I'm not in the position to do that at the moment.

izools

What are the interest rates on the cards?

If their credit history is poor anyway they may wish to seek an Arrangement to Pay with the lenders. If they were to fall a month behind the lenders may entertain freezing interest whilst they pay the accounts off at a reduced rate.

This will of course negatively effect their credit rating but long term may be a better solution.

Greasemonkey_2

Deleted_User wrote: »

What are the rates on each of the card? It may make sense to BT one to the other, if there is enough of a difference.

Have they opted out of any future rate increases?

They asked Barclays to do this but they said that because both
cards were effectively owned by Barclays, they wouldn't allow it. not sure if they have opted out of future increases, will have to ask. thanks

debbieme

Get them to apply for a credit card with 0% interest then move their existing debt to this credit card it will ony be 2-3% to make the move!