We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Barclaycard to hike minimum payments in major credit card shake-up - MSE News
Options
Comments
-
MattMattMattUK said:If people always repaid their debts life would be simpler and banking cheaper,
0 -
binao said:
Many years ago my GP said, "it's a burning question", and gave me a script for patches and inhalers. Not cheap, but a good investment for the NHS.
Lets face it if they did, it is not going to save the NHS anything for a generation at least & maybe more.
Let them keep smoking and paying the tax. It's saving us non smokers a lot of money...Life in the slow lane0 -
born_again said:If everyone stop smoking. Where are the Government going to find all that income from?
Lets face it if they did, it is not going to save the NHS anything for a generation at least & maybe more.
From a purely fiscal point of view the best option would be to allow smoking, but ban filters, of course that has moral implications.born_again said:Let them keep smoking and paying the tax. It's saving us non smokers a lot of money...0 -
badmemory said:DiamondLil said:It hasn't always been this way in the UK. I well remember discovering and opening a current account with the Trustee Savings Bank because they didn't charge a fee. My previous banks had all charged.
Used bits of paper we called cheques or paid bills at the bank.
Good luck.0 -
binao said:Grumpy_chap said:badmemory said:binao said:All ads on TV or elsewhere for gambling should be banned.
Totally agree, although I think some TV channels would go broke if it was, but that is not necessarily a bad idea either.
Many years ago my GP said, "it's a burning question", and gave me a script for patches and inhalers. Not cheap, but a good investment for the NHS.0 -
MattMattMattUK said:
The issue is always with defaults, it is why payday loans had very high interest rates and still only made a net profit of around 1.5%.
Borrowing is cheaper now, but the unknown is how many people will go bankrupt. They want to be close to the edge but not fall over.
Pre covid the lenders were pretty good at picking their customers, while payday lenders didn't need to as by charging such a high apr their target customers found them.0 -
Absolutely disgusting interest rates applied to all credit cards across the board. If the FCA are 'pressurising' credit card companies in an effort to reduce personal debt then the FCA as a Government agency should regulate their interest charges and get them reduced to enable reductions in the levels of personal credit. We're all suffering from the financial downturn so then it is not unreasonable that credit card companies should take responsibility for the levels of interest they charge and recognise that they cannot continue to bleed their customers with scandalous increases in minimum payments. The credit card industry has needed regulation for years and it is about time the Government and the FCA stepped into enforce interest rate reductions.
0 -
sourcrates said:Barclaycard have been reassessing their position in the credit card market for some time.For months now limits have been reduced, accounts closed, new borrowing restricted.These are strange times for credit card companies, when cash is tight we tend to turn to credit more, but it can be a double edged sword, for lender and customer, as COVID-19 has seen that cash flow all but dry up, what comes next will determine the game for the foreseable future.
interesting move, at the start of lockdown, i heard on the radio that people were paying back credit cards in record rates. people getting furlough pay for doing nothing, nothing to spend their money on, so they started paying back their debts.
I paid off all my stooze balance because for the first time I needed to get on universal credit, so I paid back all my cards and paid of any money I owed to people to get my bank balance down to as close as £6k as possible to avoid capital penalties under universal credit. I suspect a lot of people would have done the same to qualify for UC.
1 -
RichardCBG said:
The credit card industry has needed regulation for years and it is about time the Government and the FCA stepped into enforce interest rate reductions.
And increasing minimum payments obviously isn't the banks 'bleeding' their customers. You've misunderstood what a payment is.0 -
RichardCBG said:Absolutely disgusting interest rates applied to all credit cards across the board. If the FCA are 'pressurising' credit card companies in an effort to reduce personal debt then the FCA as a Government agency should regulate their interest charges and get them reduced to enable reductions in the levels of personal credit. We're all suffering from the financial downturn so then it is not unreasonable that credit card companies should take responsibility for the levels of interest they charge and recognise that they cannot continue to bleed their customers with scandalous increases in minimum payments. The credit card industry has needed regulation for years and it is about time the Government and the FCA stepped into enforce interest rate reductions.
People will always pay lots of interest when borrowing, particularly on cards if they aren't paying it off every month - that's the fault of irresponsible borrowing, not lending3
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards