WANRNING - Barclaycard 5% interest rate increase!!!

boon72

ive just got my statement from BC and there putting up my rate by 5% and just been told there's nothing i can do about it as they have increased all the rates along with other credit card companies :mad:

mattbass

This is probably to pay for the rumoured 5% cashback deal.

ad44downey

capital one increased my interest rate by about 13% a few weeks ago so 5% is nothing!

Dylanwing

At this rate Vanquis will soon be a market leader!:D :rotfl:

wiganpier

Just saw this particular thread, and had to sign up to tell you this... if you have a good payment history with your barclaycard.. phone up customer services, with a query or polite request to reduce the actual APR% rate of the card. i did this and had my rate reduced from 14.9% to 9.9% (now similar to the Flexi-rate)

Ivan_Konstantinov

boon72 wrote: »

ive just got my statement from BC and there putting up my rate by 5% and just been told there's nothing i can do about it as they have increased all the rates along with other credit card companies :mad:

it cos all the peeps claiming back charges etc. :money:

ontheup_3

Heres one for people to try if you have a good record with them

Ring them and ask to be put through to the "Customer Loyalty Team" they will blag you etc but if you persist and say that they are the people you need to speak to you will be passed through.

Once there (remember to speak in a very nice manner to them as they are the main key)ask them if they can look at your account and see if there is anything they can do or offer you as you are a good customer and feel you are being took advantage off and thinking of moving CC provider .

I was on a 27.9% card , I did this and they upgraded my card and knocked my APR to a sliding scale which was if I use my card between £0-£24.99 per month my will be 18.9% if I use the card and spend between £25-£49.99 per month it goes down to 11.9% , if I spend over £50 per month it goes down to 6.9% APR which is lower than any loan i can get .

Dont forget to get the name of the person you speak too , then you can ask for them if you need to ring again especially if they give you a good deal.

HTH's other BC customers !!!, please let me know how you get on !!!

inmypocketnottheirs

ontheup wrote: »

Heres one for people to try if you have a good record with them

Ring them and ask to be put through to the "Customer Loyalty Team" they will blag you etc but if you persist and say that they are the people you need to speak to you will be passed through.

Once there (remember to speak in a very nice manner to them as they are the main key)ask them if they can look at your account and see if there is anything they can do or offer you as you are a good customer and feel you are being took advantage off and thinking of moving CC provider .

I was on a 27.9% card , I did this and they upgraded my card and knocked my APR to a sliding scale which was if I use my card between £0-£24.99 per month my will be 18.9% if I use the card and spend between £25-£49.99 per month it goes down to 11.9% , if I spend over £50 per month it goes down to 6.9% APR which is lower than any loan i can get .

Dont forget to get the name of the person you speak too , then you can ask for them if you need to ring again especially if they give you a good deal.


HTH's other BC customers !!!, please let me know how you get on !!!

Very interesting. I have written a scathing letter to BC regarding their business practices, which I am waiting for a reply to. Which number did you call to speak to the Customer Loyalty Team?

ontheup_3

inmypocketnottheirs wrote: »

Very interesting. I have written a scathing letter to BC regarding their business practices, which I am waiting for a reply to. Which number did you call to speak to the Customer Loyalty Team?

I rang 01642 663800 and I spoke to Danielle Thompson who was very sweet and did the job !!!

Hope you get sorted as well as i was !!!

Spark

I just got my new barclaycard simplicity, and still got to use it for the first time.
Do they put up the rate on that one too?
Do they send a letter telling you about the rise?

MABLE

I am the customer and do not believe in bowing and scraping to any company. If the provider will not give me a good deal I move on. I have various credit cards including Barclaycard. I only keep that one because I have a 2.9 percent bt for life. My regular cards which include CO-OP Plat at 9.9 and Cahoot 10.8 percent on purchases.