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Barclaycard interest
Stuart_Calrke
Posts: 1 Newbie
in Credit cards
I have a Barclaycard (purchase) which I have stupidly let run beyond its 0 percent interest limit. I have been informed by Barclaycard that I will soon be paying 20 percent interest. Is there a way I can swap my card? Can anybody give me any advice?
Many thanks.
Stuart
Many thanks.
Stuart
0
Comments
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You could get another card and do a balance transfer - at least in theory.0
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If you are paying 20%APR - that will be over the year.
Interest is calculated daily so pay off as much as possible, as soon as possible to minimise the amount of interest you pay.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
What was your original plan for reaching the end of the 0%?
If you want to minimise your interest then either pay off the card or look for another card and transfer the balance.0 -
Use the MSE Eligibility tool to look for a 0% Balance Transfer Card...Dwy galon, un dyhead,
Dwy dafod ond un iaith,
Dwy raff yn cydio’n ddolen,
Dau enaid ond un taith.0 -
No point swapping to another card with them, as the interest rate and features are more or less the same.
You can balance transfer the amount to another card with another financial provider or pay the remaining balance using your savings.
From now on with the Barclaycard, change your direct debit from minimum payment to full payment each month.0
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