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Karina_B
Posts: 3 Newbie
in Credit cards
Hi everyone
I'm new here so forgive me if this has been asked before.
I'm stuck in a situation where I'm paying high interest on credit cards but cannot change to another card because I now don't have the income to apply for a new one. I was employed when I first had the cards but am now self employed with a much lower income.
I have two credit cards - Egg and Barclaycard. I'm up to the limit of £6000 on my Egg card and paying 19.5%. I have contated them to ask why the rate I am paying is higher than the rate they advertise. They would not tell me - they just said that it was the way my account was managed and operated. I suspect that it is because a) because I have missed a very few payments in the past and b) because I am no longer spending on the card. I have asked them to reduce the rate and they have declined.
I owe £3000 on my Barclaycard. They are currently advertising 14.5% variable to new customers but I am paying 21%!! I pay by direct debit, still have credit to use and have spent on my card in the last year (but have now stopped and determined not to use except in dire emergency). I don't think I have missed any payments - at least not within the last two years. I want to ask Barclaycard to reduce the rate that I pay but I want to get it right. Any advice please? And is Egg a lost cause?
Thanks, Karina
I'm new here so forgive me if this has been asked before.
I'm stuck in a situation where I'm paying high interest on credit cards but cannot change to another card because I now don't have the income to apply for a new one. I was employed when I first had the cards but am now self employed with a much lower income.
I have two credit cards - Egg and Barclaycard. I'm up to the limit of £6000 on my Egg card and paying 19.5%. I have contated them to ask why the rate I am paying is higher than the rate they advertise. They would not tell me - they just said that it was the way my account was managed and operated. I suspect that it is because a) because I have missed a very few payments in the past and b) because I am no longer spending on the card. I have asked them to reduce the rate and they have declined.
I owe £3000 on my Barclaycard. They are currently advertising 14.5% variable to new customers but I am paying 21%!! I pay by direct debit, still have credit to use and have spent on my card in the last year (but have now stopped and determined not to use except in dire emergency). I don't think I have missed any payments - at least not within the last two years. I want to ask Barclaycard to reduce the rate that I pay but I want to get it right. Any advice please? And is Egg a lost cause?
Thanks, Karina
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