BarclayCard Interest rip-off! Beware

stuzhunter

Beware those who took the Barclaycard platinum card with £50 voucher. You had to spend on the card to get the £50 voucher.

I spent just over £1 to get the voucher, which I did get. I also balance transferred over £1700. I have also already paid about £80 minimum re-payments.

However the payments are applied to the balance transfer & fees first so I will never pay the above purchase unless I pay the full balance amount.

As the interest on my spend comes to about virtually nothing, Barclaycard charges £1 minimum interest every month. So I will pay Barclaycard £1 x 12 over the next 12 months.

Unbelievable..they will charge me £12 for a purchase just over £1.:mad: What a rip-off? Surely this cannot be right:eek:

KiKi

Hi there

This is part of the Terms and Conditions of the card - in fact, of almost all (if not actually all) credit cards when you transfer a balance. Payments will apply to the balance transfer first, before any purchases...which is why Martin always says that you should never use a card for balance transferring and purchases.

What you should have done was spent on the card and paid it back *before* balancing any transfer to it.

Put it down as a lesson learnt and not to be repeated!


KiKi

stuzhunter

Cheers Kiki-I got caught this time!