Barclaycard Interest

Mrsclairemackay

Hi - I just wanted to share my experience of today - after reading ML's advice on managing your CC's - I called Barclaycard (I have almost £4k on a card with them) and asked them if there was anything they could do to help me as I was struggling to clear my balance on the curent interest rate - 24.6% - they moved my balance onto 9.9% for 2 years. Any new purchases would be on the original rate however what a huge difference and massive saving on interest with regards to paying your balance. Well worth a try!

Dobbibill

Thanks for sharing this, it may help other posters in the same situation in the future.

I would take this opportunity to look at the root cause of the £4K of debt too so that once you clear the balance you won't find yourself in a similar position in the future.

bengal-stripe

Mrsclairemackay wrote: »

.......they moved my balance onto 9.9% for 2 years.

Your account will probably get marked as "Agreement to pay", which means you will not get any more credit in the foreseeable future.

But, in your financial situation, that might be a blessing.

chattychappy

bengal-stripe wrote: »

Your account will probably get marked as "Agreement to pay", which means you will not get any more credit in the foreseeable future.

I think you meant "arrangement to pay"?

But in any case, I don't think that that is the case here. It sounds like they just offered the OP a better deal. Despite what the OP said, I don't think they handled the call as coming from someone in financial difficulty. If they had, then I would have expected repayment amounts to have been agreed and no further purchases to be allowed.