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Feeling cheated
Risca_Bob
Posts: 2 Newbie
in Credit cards
I have been enjoying a recommended MSE Barclaycard giving me free foreign cash withdrawals and purchases. As with all my cards, I usually pay off completely each month.
Recently, I had some unexpected expenditure that I charged to a different card and was then pleased to get a 6-month interest free balance transfer offer from Barclaycard (with a one-off fee). I transferred the amount off the other card which then correctly showed on my statement as promotional balance.
So then I use the card as normal after paying all non-promotional items in full by due date. Low and behold, I'm charged interest!? Upon ringing them, I'm told that while I have a promotional balance, I will pay from day 1 on all purchases in the month!!
I still don't get it and despite scouring the website, I can only find the wording relating to the application of payments being to purchases first before reducing the promotional balance - fair enough, I pay the purchases in full plus. I cannot find any reference to charging interest.
Not sure at all and not happy - feeling misled.
Recently, I had some unexpected expenditure that I charged to a different card and was then pleased to get a 6-month interest free balance transfer offer from Barclaycard (with a one-off fee). I transferred the amount off the other card which then correctly showed on my statement as promotional balance.
So then I use the card as normal after paying all non-promotional items in full by due date. Low and behold, I'm charged interest!? Upon ringing them, I'm told that while I have a promotional balance, I will pay from day 1 on all purchases in the month!!
I still don't get it and despite scouring the website, I can only find the wording relating to the application of payments being to purchases first before reducing the promotional balance - fair enough, I pay the purchases in full plus. I cannot find any reference to charging interest.
Not sure at all and not happy - feeling misled.
0
Comments
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It is clearly stated in the summary box / T&Cs and is the same on 99.9% of cards (there a couple of exceptions). The purchases interest is only waived if you pay off the whole outstanding balance (and this includes any promotional balances).0
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Yep. Absolutely standard and discussed on here daily since the allocation of payment changes in 2011.0
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The golden rule for most credit cards is 'pay off the BALANCE in full & on time to benefit from the interest free grace period on purchases'.
As said, there are a couple of exceptions but this applies to almost all credit cards, this is where having more than one card can help. One for the BT and another for purchases which are paid in full each statement.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 -
And this is why it’s always best to keep spending and balance transfers on separate cards.0
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Too late for the OP now but the Nationwide Select credit card has the following features.And this is why it’s always best to keep spending and balance transfers on separate cards.
No fee balance transfers at 0% interest for 12 months.
0% interest on purchases for 12 months.
0.5% cashback on all purchases payable once a year.0 -
Too late for the OP now but the Nationwide Select credit card has the following features.
No fee balance transfers at 0% interest for 12 months.
0% interest on purchases for 12 months.
0.5% cashback on all purchases payable once a year.
I believe they need to have a NW current account too for this card
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
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