Barclaycard penalising prompt payers

JoseChungsDoomsday

YorkshireBoy wrote: »

But that 16.7% is a gross margin CLAPTON.

By the time they take off their costs, they'll probably make a loss on your account.

Also, there's the opportunity cost of tying up (potentially) £3K of borrowing capacity, which they then can't allocate more profitably elsewhere, for your £150 average indebtedness.

could not agree more with you or daveyboy. Truth is, you make the comany pennies a year. Considering they have to pay the following -

Postage
Printing your statement
Pay visa to allow your card to exist
Process the payment you send to them

It really is no wonder they are a little harsh with you. Just be glad you can pay off your card very month and move on.

CLAPTON

YorkshireBoy wrote: »

But that 16.7% is a gross margin CLAPTON.

By the time they take off their costs, they'll probably make a loss on your account.

Also, there's the opportunity cost of tying up (potentially) £3K of borrowing capacity, which they then can't allocate more profitably elsewhere, for your £150 average indebtedness.

Just doing the maths old chap.

I have no real idea of CC average or marginal costs structures or their assumptions about cross selling other products.
Anyway, I personally take the view that while one is owed nothing by these financial institutions, if they choose to offer 1% or 2% cashback plus 20-30 days interest free money plus certain level of protection for spends and there are no real downsides then one might as well take it.

If the OP doesn't like the product then our wonderful competitive market place provides loads of other products that may suit him better.

terafarma

[/quote]JoseChungsDoomsday;8688393]could not agree more with you or daveyboy. Truth is, you make the comany pennies a year. Considering they have to pay the following -

Postage
Printing your statement
Pay visa to allow your card to exist
Process the payment you send to them

It really is no wonder they are a little harsh with you. Just be glad you can pay off your card very month and move on.[/quote]


To JoseChungsDoomsday,the best, and I believe the wisest thing for protagonist of this kind of theory is to simply let those of us who are not willing to allow themselves be robbed blind by credit card providers be. They have the God given choice of taking their charitable crusade on behalf of the banks, credit card providers and other financial institutions to the the banks' doorstep.

This forum and website is not dedicated to campaigning for, and championing the immoral, reckless, and extortionate profit making cause of these financial institutions.

I am not a wannabe saint or socialist by the way. Reasonable, sensible, fair profit making is good, both for the customer and the banks.

terafarma

Thanks glastowinebar. No apologies for my comments. Do not owe any certain people any explanation and never pander to anyone. Life is tough, the truth is bitter.

JoseChungsDoomsday

glastowinebar wrote: »

"I am not a wannabe saint or socialist by the way"

no need to explain to pander to certain people

I assume thats directed at me... care to explain what kind of person I am?

JoseChungsDoomsday

JoseChungsDoomsday;8688393]could not agree more with you or daveyboy. Truth is, you make the comany pennies a year. Considering they have to pay the following -

Postage
Printing your statement
Pay visa to allow your card to exist
Process the payment you send to them

It really is no wonder they are a little harsh with you. Just be glad you can pay off your card very month and move on.[/quote]


To JoseChungsDoomsday,the best, and I believe the wisest thing for protagonist of this kind of theory is to simply let those of us who are not willing to allow themselves be robbed blind by credit card providers be. They have the God given choice of taking their charitable crusade on behalf of the banks, credit card providers and other financial institutions to the the banks' doorstep.

This forum and website is not dedicated to campaigning for, and championing the immoral, reckless, and extortionate profit making cause of these financial institutions.

I am not a wannabe saint or socialist by the way. Reasonable, sensible, fair profit making is good, both for the customer and the banks.[/quote]

You miss my point - you are complaining about a company that is tightening up on you free loading off them (and lets be honest, its what you are doing).

I could careless if you are a socialist or a CEO of microsoft. If you dont like what they are doing move to another company and free load of them. But beware that all companies catch on to these tactics.

Trm4342

I appreciate all the comments regarding barclaycard, my issue was not that they changed the date of my payment as much as they are penalising people who are trying to keep their finances in order. with regard to the comments that I should be thankful that I have credit and that I should be glad that I can pay off my card every month, this is only through hard work and organisation, something Martin preaches on a daily basis. I am 'lucky' in that I have other cards that I can use and I am 'lucky' that they do not penalise me in this way and I am also 'lucky' in that I can and will pay off the amount this month, but think of others that are on a tighter rein!! If we all followed Martin's advice (which is why we are all here is it not?) the credit companies would have a problem on their hands.

Trm4342

I would also add that I too have been listening to Martin for about three years aswell Daveboy (join date Jan 05) (Super money saving fan ???). My finances are in order, well done Martin!! Some of us really do take his advice and use it wisely.

jinkssick

daveboy would be one of those idiot lobbyist with the banners outside 'debt agencies' proclaiming 'Its your own fault your in debt' 'I love CCs'. Idiot.

daveboy

jinkssick wrote: »

daveboy would be one of those idiot lobbyist with the banners outside 'debt agencies' proclaiming 'Its your own fault your in debt' 'I love CCs'. Idiot.

Whatever you say, whatever you say.

All the OP needed to do was ring Barclaycard and ask for them to alter the date the statement is issued, which they will do. But instead, like so many others, he came on to MSE and had a whinge about something which in reality doesn't do anything to help anyone else save money.