Barclaycard increases BT fee

urbanfrit

Had a letter this morning from Barclaycard informing me that from 14/11/05 as well as increasing the APR to 17.9% for purchases and 21.9% for cash and minimum interest increasing to £1 from 50p,Barclaycard will usually charge a handling fee of 2.5% on cash,travellers' cheques,balance transfers or cheques.
This will be an increase from 2% for most customers.

YorkshireBoy

That's going to hurt people BT'ing "smaller" balances, but did the letter also mention a removal of the current BT fee cap of £50?

urbanfrit

YorkshireBoy wrote:

That's going to hurt people BT'ing "smaller" balances, but did the letter also mention a removal of the current BT fee cap of £50?

The cap is not mentioned in the letter so it looks like it is going.
They only let you transfer £5000 at 0% anyway whatever your limit.
A poor card is becoming even poorer for new and existing customers.
When my 0% for 12 months deal comes to an end in March I will ditch them.

YorkshireBoy

urbanfrit wrote:

The cap is not mentioned in the letter so it looks like it is going.
They only let you transfer £5000 at 0% anyway whatever your limit.
A poor card is becoming even poorer for new and existing customers.
When my 0% for 12 months deal comes to an end in March I will ditch them.

So, a £5K BT that used to cost £50 @ 2% capped will now cost £125 @ 2.5% uncapped. That's a heck of an increase.

Even for "smaller" BT's, this card's only redeeming feature is it's 12 month duration.

Milarky

For anyone of the 'life of balance' 0% deal the higher [£1] minimum interest charge could affect them too for a while as their carried-forward spending balance gets up to around the £80 mark

mountainofdebt

Are you on a special type of barclaycard deal?

I only ask as I've done a number of BT deals with them (@6.9% for LTOB) and never paid a fee....so theoretically this would mean a jump of 2.5% for me.

YorkshireBoy

mountainofdebt wrote:

Are you on a special type of barclaycard deal?

I only ask as I've done a number of BT deals with them (@6.9% for LTOB) and never paid a fee....so theoretically this would mean a jump of 2.5% for me.

Have you checked the website recently? The current "Barclaycard Simplicity" 6.9% card (on BT's and purchases) has a 2% UNCAPPED fee according to the summary box.

urbanfrit

mountainofdebt wrote:

Are you on a special type of barclaycard deal?

I only ask as I've done a number of BT deals with them (@6.9% for LTOB) and never paid a fee....so theoretically this would mean a jump of 2.5% for me.

Not as far as I know.Got the card in March for the 0% for 12 months deal.
Got charged 2% which was capped at £50.
My brother has had a Barclaycard for years and has had the same letter.

mountainofdebt

YorkshireBoy wrote:

Have you checked the website recently? The current "Barclaycard Simplicity" 6.9% card (on BT's and purchases) has a 2% UNCAPPED fee according to the summary box.

I think I must have the classic card.....that's the only reason I can think of beause I definitely have had no fee applied to any transfers that I've made and they've been at 6.9% (LTOB).....is this the offer that Martin mentions in his article?

alanprior

I also received this letter and rang them today. I was put on to the loyalty department and after explaining I wasn't happy I was offered no rate rise on my account and £20 cash credited to my account to make up for the loss of Nectar points,
This wouldn't have happened if I hadn't been aware of this site so once again thank you Martin