Barclaycard

dr_adidas01

Hi Everyone,

I just wanted ask if anyone else had come across this with Barclaycard.

I have a Barclaycard which is always paid in full and well before its due date. Today I checked my balance online and found it had £1.09 on it. This then worried me as i'd not used it since paying the balance.

So I called Barclaycard to find out what the £1.09 was for as I thought this maybe a fraudulent transaction, as we know they start with small amounts and then work up to large amounts if the small amount is successful.

The Customer Service representative assured me this was not the case, and that it was in-fact a 2.75% interest fee. I then asked how this could be charged if your balance is paid in full every month.

He Explained that Barclaycard now charge interest from the day your statement is issued, even if you pay in full, and that it is added onto your statement the following month. He assured me that that Barclaycard has sent out letters to everyone explaining this over 4 months ago, and that it is also on the back of your statement to. Which when looking on the back i cant find it anywhere.

He then said he would refund the interest charge as a gesture of good will, but I should be aware that next month they wont.

Has anyone else come across this?

Thanks.

emweaver

I would pay that off and cut it uip then

Bismarck

wow.....that is really something...are they the first provider to do this?

vbrindle

I noticed something similar in the revised terms and conditions that were sent to me from citi. It said interest would be charged from the statement date. It was in the small print which most people wouldn't even bother to read.

Looks like 56 day interest free is gonna be a thing of the past.

It seems to me that they're just trying to find more ways of making money and milking us for what they can get.

Bismarck

so it's not just barclaycard?

hmm..the plot thickens...

YorkshireBoy

dr_adidas01 wrote: »

The Customer Service representative assured me this was not the case, and that it was in-fact a 2.75% interest fee.

A "2.75% interest fee", if charged monthly, would equate to an APR of around 38.5%.

There is, however, a 2.75% figure in the Barclaycard summary box for foreign currency transactions. Is it possible you have bought something online and your payment was processed overseas?

Dagobert

I have a Barclaycard and never received any letter in the last few months (I keep ALL letters + statements).

On the back of the statements, it still says that the max. interest-free period is 56 days.

TangledMemories_2

This happened to me. I received my statement and a day later I paid the balance off in full. I then rang up 4 days later (after allowing the payment to clear) and advised them I wanted to close my account. They informed me there was a further interest charge of £8.77 to be paid. When I asked why, they advised me that now I have paid off the balance in full, I was still liable for further interest.
So...I paid the £8.77 and told them where to stick their account.

Mutton_Geoff

This has happened to me before. Despite paying my usual card off in full, a rogue interest charge turned up a month later. Seems it was interest on a foreign transaction between transaction date and payment of my account but carried forward (as they clearly wouldn't know until I'd paid off in full exactly when that date would be).

They waived it for me even though it was clear in their T&C's (I'd missed it).

CLAPTON

dr_adidas01 wrote: »

Hi Everyone,

I just wanted ask if anyone else had come across this with Barclaycard.

I have a Barclaycard which is always paid in full and well before its due date. Today I checked my balance online and found it had £1.09 on it. This then worried me as i'd not used it since paying the balance.

So I called Barclaycard to find out what the £1.09 was for as I thought this maybe a fraudulent transaction, as we know they start with small amounts and then work up to large amounts if the small amount is successful.

The Customer Service representative assured me this was not the case, and that it was in-fact a 2.75% interest fee. I then asked how this could be charged if your balance is paid in full every month.

He Explained that Barclaycard now charge interest from the day your statement is issued, even if you pay in full, and that it is added onto your statement the following month. He assured me that that Barclaycard has sent out letters to everyone explaining this over 4 months ago, and that it is also on the back of your statement to. Which when looking on the back i cant find it anywhere.

He then said he would refund the interest charge as a gesture of good will, but I should be aware that next month they wont.

Has anyone else come across this?

Thanks.

are you saying

a. each and every month you pay the FULL amount

b. you have made NO cash withdrawals or bought foreign currency or used it at a gambling site

c. you haven't used the card overseas

rail.link

So , statements dated, say 30th April, will have to be paid by 29th April, in order to be interest free ?
Considering, you only get the statement after the "due date", does anybody find this a bit ridiculous ?