Barclaycard stopping late payment and cash advance fees for 90 days

Tildaplum

Just received an email saying Barclaycard are stopping all late payment and cash advance fees for a period of 90 days 

This will be automatic no need to call them

tricky_plus

presumably we still need to make the 3 monthly payments due in that time though, just as a lump sum at the end?

Tildaplum

If you don't make a payment, interest will continue to accrue but you won't be charged a late payment fee as such.

I you withdraw cash then interest will start to accrue from the withdrawal date but you won't be charged a cash advance fee.

SnowTiger

I haven't received an email from Barclaycard about this yet, however it is mentioned on their website: 

Coronavirus help and support

We won’t be charging you late payment or cash advance fees between 19 March and 17 June 2020 – we’ll take care of this, so you don’t need to call us

tricky_plus said:

presumably we still need to make the 3 monthly payments due in that time though, just as a lump sum at the end?

No late fees, so I guess you can take a cash advance tomorrow and not pay it back until 17th June.

No mention of interest, so I guess punters will still have to pay it on cash advances as usual.

zagfles

Yes it looks like interest will still be payable on cash withdrawals - I initially thought it'd be like foreign withdrawals where no interest is charged if you pay in full (and no fee either if you've got the Travel card) but reading the terms they charge immediate interest on Sterling withdrawals, unlike foreign withdrawals. So you'd save the fee but not the interest by the looks of it.

callum9999

SnowTiger said:

I haven't received an email from Barclaycard about this yet, however it is mentioned on their website: 

Coronavirus help and support

We won’t be charging you late payment or cash advance fees between 19 March and 17 June 2020 – we’ll take care of this, so you don’t need to call us

tricky_plus said:

presumably we still need to make the 3 monthly payments due in that time though, just as a lump sum at the end?

No late fees, so I guess you can take a cash advance tomorrow and not pay it back until 17th June.

No mention of interest, so I guess punters will still have to pay it on cash advances as usual.

You can pay it back whenever you want. The 17th June is the last day you can make the cash withdrawal without getting a fee - they wouldn't retroactively apply to a fee to any transaction not paid off by that date.

roakes

So for clarity, if I don't pay the minimum payment for the next 3 months, there won't be any negative effects on my credit score or any fees?

jay1804

There will be negative affects, No fees but interest will be appiled

roakes

jay1804 said:

There will be negative affects, No fees but interest will be appiled

Even if I'm on a 0% offer for the balance?

jay1804

Not 100% sure, but the T&Cs of 0% offers is to pay at least the minimum payment

D3xt3r5L4b

I believe you still need to contact them to arrange this, no?
You can't just "stop" making payments