Barclays personal reserve

myners

well I`ve just been to the local branch and spoke to the company man.
I might have well gone and had a conversation with a wall!

They say it can`t be referred higher.

All he could say about the `Opt Out` was `all our customers are happy with it`, couldn`t say why with all other products you have to ask for them to be provided, apart from this one he just regurgitated `all our customers are happy with it`.

When I mentioned that Barclays figures would show I was `happy with it` as I didn`t even know I was in it.

When they send me a `terms & conditions` letter I read it, if this is a change to an existing scheme why was it not sent as a `change to terms & conditions` letter. it was sent as a new product. to which I had be aware of and `opt out` that is the crux, no more no less..

Inactive

myners wrote: »

All he could say about the `Opt Out` was `all our customers are happy with it`, couldn`t say why with all other products you have to ask for them to be provided, apart from this one he just regurgitated `all our customers are happy with it`.

When I mentioned that Barclays figures would show I was `happy with it` as I didn`t even know I was in it.

He was clearly speaking through his back passage, as you say, how would Barclays know how happy, or more likely unhappy, any customers are with this " Opt Out " set up?

willo65

myners wrote: »

So you read all your junk mail? I doubt it. I have better things to do..

Two letters sent, I only recieved ONE!

you ignore the OPT OUT question. they knew many people would not OPT IN.

I did not ask for this service..

As you have now realised this JUNK mail wasn't junk mail so you should pay more attenion

rachhealey

Hi
I am not sure if this has been mentioned in this thread already but I wanted to make people aware of the affect that having a personal reserve has on your credit rating (not just your pocket!).

I have recently been rejected for a credit card and an overdraft because I had used my reserve. I have always fully accepted that if, in an emergency, I need to use the reserve I will incur a £22 fee but even by going into my reserve by £1 has still given me a negative credit rating (I was informed by A&L and MBNA that was the reason - no other).

There are probably plenty of people who are financially savvy enough to realise this - but for those of us who felt that they were just being offered an extra lending facility - at a higher fee/penalty of £22 every 5 days - this has been a shocking find.

I have cancelled my reserve tonight and strongly suggest that other people do the same.

naijapower

Yes, i completely agree with you. This personal reserve thing does have a negative effect. What you described as happened to my best mate

sscott5581

rachhealey wrote: »

Hi
I am not sure if this has been mentioned in this thread already but I wanted to make people aware of the affect that having a personal reserve has on your credit rating (not just your pocket!).

I have recently been rejected for a credit card and an overdraft because I had used my reserve. I have always fully accepted that if, in an emergency, I need to use the reserve I will incur a £22 fee but even by going into my reserve by £1 has still given me a negative credit rating (I was informed by A&L and MBNA that was the reason - no other).

There are probably plenty of people who are financially savvy enough to realise this - but for those of us who felt that they were just being offered an extra lending facility - at a higher fee/penalty of £22 every 5 days - this has been a shocking find.

I have cancelled my reserve tonight and strongly suggest that other people do the same.

Are Barclays reporting to CRA's your account is in arrers by using the reserve facility, if this is the case that is terrible and clearly Barclays should warn customers of this.

Extant

I'd suggest that you go get yourself a copy of your credit report, since reserve usage isn't reported - it shows as being part of your credit limit. There's no way to tell if someone has used their reserve. I.e. If you have a £1000 overdraft and a £250 reserve, your credit limit is reported as £1250.

I'd really like to know how A&L and MBNA knew you'd used your Personal Reserve.

rachhealey

BarclaysManager wrote: »

I'd suggest that you go get yourself a copy of your credit report, since reserve usage isn't reported - it shows as being part of your credit limit. There's no way to tell if someone has used their reserve. I.e. If you have a £1000 overdraft and a £250 reserve, your credit limit is reported as £1250.

I'd really like to know how A&L and MBNA knew you'd used your Personal Reserve.

Hi BarclaysManager
Both of my credit reports (equifax and experian) do indeed just show a total credit limit (overdraft & reserve) so A&L and MBNA must have obtained the information somehow.
I am not sure if I should go to Barclays and ask them what information they are submitting or if it is the fault of the other financial institutes? I tried to explain until I was blue in the face to them both the way the reserve works but they were adament that my rating is now blighted as a result!
Not sure how long I will now have to wait until my credit rating improves - but have a £3k balance on a 0% running out in June - argh!!

Extant

rachhealey wrote: »

Hi BarclaysManager
Both of my credit reports (equifax and experian) do indeed just show a total credit limit (overdraft & reserve) so A&L and MBNA must have obtained the information somehow.
I am not sure if I should go to Barclays and ask them what information they are submitting or if it is the fault of the other financial institutes? I tried to explain until I was blue in the face to them both the way the reserve works but they were adament that my rating is now blighted as a result!
Not sure how long I will now have to wait until my credit rating improves - but have a £3k balance on a 0% running out in June - argh!!

We don't report use of reserve fees at all. They don't report as arrears or defaults either.

Did you give A&L or MBNA any statements? Because they certainly didn't find out from us or from your credit report.

rachhealey

BarclaysManager wrote: »

We don't report use of reserve fees at all. They don't report as arrears or defaults either.

Did you give A&L or MBNA any statements? Because they certainly didn't find out from us or from your credit report.

No I didn't give copies of my statements at all.