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  • FIRST POST
    • Shakin Steve
    • By Shakin Steve 6th Sep 18, 6:58 PM
    • 1,688Posts
    • 1,458Thanks
    Shakin Steve
    FYI Barclaycard
    • #1
    • 6th Sep 18, 6:58 PM
    FYI Barclaycard 6th Sep 18 at 6:58 PM
    Received this from Barclaycard today. It may be of interest to some:

    I came into this world with nothing and I've got most of it left.
Page 1
    • Shakin Steve
    • By Shakin Steve 6th Sep 18, 8:34 PM
    • 1,688 Posts
    • 1,458 Thanks
    Shakin Steve
    • #2
    • 6th Sep 18, 8:34 PM
    • #2
    • 6th Sep 18, 8:34 PM
    I'm guessing, by the lack of responses, that this was already common knowledge.
    I came into this world with nothing and I've got most of it left.
    • slicence
    • By slicence 6th Sep 18, 8:35 PM
    • 208 Posts
    • 148 Thanks
    slicence
    • #3
    • 6th Sep 18, 8:35 PM
    • #3
    • 6th Sep 18, 8:35 PM
    Yeah I saw this too. However, I've not activated my card as I'm mostly using it to clear an old amount. I find the high monthly minimum payment useful for this. I'd rather just clear as much as I can, and use my new 0% spending for spending amount

    Due to be mortgage free in May 2043
    Mortgage free wannabe by May 2028, eek!
    Current daily interest ~ -6.75 - 6.31
    Overpayments since April 2018 - 5,500
    • Gary_Dexter
    • By Gary_Dexter 6th Sep 18, 8:57 PM
    • 3,747 Posts
    • 2,300 Thanks
    Gary_Dexter
    • #4
    • 6th Sep 18, 8:57 PM
    • #4
    • 6th Sep 18, 8:57 PM
    It’s well known as the promo balance and purchase balance are in different “pots” when it comes to payments and interest
    • slicence
    • By slicence 6th Sep 18, 9:00 PM
    • 208 Posts
    • 148 Thanks
    slicence
    • #5
    • 6th Sep 18, 9:00 PM
    • #5
    • 6th Sep 18, 9:00 PM
    I was surprised that they were making a big deal about it too

    Due to be mortgage free in May 2043
    Mortgage free wannabe by May 2028, eek!
    Current daily interest ~ -6.75 - 6.31
    Overpayments since April 2018 - 5,500
    • jonesMUFCforever
    • By jonesMUFCforever 6th Sep 18, 10:24 PM
    • 25,650 Posts
    • 12,880 Thanks
    jonesMUFCforever
    • #6
    • 6th Sep 18, 10:24 PM
    • #6
    • 6th Sep 18, 10:24 PM
    I must be honest I was not aware of this - I have the cashback Barclaycard. I only use it for day to day purchases and never thought of getting a balance transfer on it - might be worth considering for the future as their fees are competitive.
    What goes around - comes around
    give lots and you will always receive lots
    • Shakin Steve
    • By Shakin Steve 7th Sep 18, 6:37 AM
    • 1,688 Posts
    • 1,458 Thanks
    Shakin Steve
    • #7
    • 7th Sep 18, 6:37 AM
    • #7
    • 7th Sep 18, 6:37 AM
    I must be honest I was not aware of this - I have the cashback Barclaycard. I only use it for day to day purchases and never thought of getting a balance transfer on it - might be worth considering for the future as their fees are competitive.
    Originally posted by jonesMUFCforever
    2 years at 0% with a fee of 1.9% is the offer on my card at the moment.
    I came into this world with nothing and I've got most of it left.
    • Vortigern
    • By Vortigern 7th Sep 18, 8:24 AM
    • 2,708 Posts
    • 1,868 Thanks
    Vortigern
    • #8
    • 7th Sep 18, 8:24 AM
    • #8
    • 7th Sep 18, 8:24 AM
    I'm guessing, by the lack of responses, that this was already common knowledge.
    Originally posted by Shakin Steve
    Perhaps it's a targeted offer, only available to those who received the email?

    I have a BC, paying down a balance transfer at 0%. I have not had this offer - and I'm not really bothered as I have other cards for spending.
    • Dobbibill
    • By Dobbibill 7th Sep 18, 8:43 AM
    • 3,590 Posts
    • 4,767 Thanks
    Dobbibill
    • #9
    • 7th Sep 18, 8:43 AM
    • #9
    • 7th Sep 18, 8:43 AM
    I wasn't aware of this either but it seems it is on their website too.

    https://www.barclaycard.co.uk/personal/credit-cards/your-interest-rates-and-balances?WT.ac=A09D14&ref=hero-banner-p2-ecm
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • chattychappy
    • By chattychappy 7th Sep 18, 8:45 AM
    • 7,068 Posts
    • 3,909 Thanks
    chattychappy
    I've had a couple of cards where this is the case, but I didn't know Barclaycard had joined the club.

    I think it's like the negative hierarchy - something that is a little smelly so is removed, under regulatory pressure to act fairly or otherwise.

    I predict the next thing to change will be the business of losing a promo offer when you miss a payment.
    • binaryuniverse
    • By binaryuniverse 7th Sep 18, 5:23 PM
    • 810 Posts
    • 521 Thanks
    binaryuniverse
    Not seeing much to get excited about tbh. You still have to pay whatever purchases you have made, when the next statement payment is due, else you will then get interest charged. I'll carry on using a separate card for purchases, and avoid any confusion.
    • fozmcfc
    • By fozmcfc 7th Sep 18, 9:54 PM
    • 3,023 Posts
    • 2,195 Thanks
    fozmcfc
    We have seen a few threads over the years about people making purchases while having a 0% balance on a Barclaycard.

    In the past if you cleared the full purchase balance, but didn't clear the whole balance including the 0% bit, you still were charged interest. This was even after the payment hierarchy changed to highest APR debt paid first.

    So yes, it is something some people might get 'excited about'.
    • MABLE
    • By MABLE 8th Sep 18, 9:15 AM
    • 3,740 Posts
    • 1,980 Thanks
    MABLE
    Very useful. However I have just swapped my Lloyds card with another one of their cards and have 24 months interest free on purchases.
    • konark
    • By konark 10th Sep 18, 1:14 AM
    • 1,170 Posts
    • 876 Thanks
    konark
    Is this true for other credit cards?
    • aleph_0
    • By aleph_0 10th Sep 18, 9:48 PM
    • 522 Posts
    • 348 Thanks
    aleph_0
    Is this true for other credit cards?
    Originally posted by konark
    AFAIK, No. In general, credit cards charge interest, but it's waived either because of promotional offers, or because of the standard offer that *almost* all cards have of "pay no interest if you pay your statement balance in full". Since 0% balance transfers still count as part of a 'statement balance', this offer doesn't apply normally if you only pay off the purchases element.

    Hopefully other banks will follow. Thanks OP for spotting this. Personally, I had seen the e-mail, but took a while to realise what this meant (yes, you have to be careful to keep track, but this will be useful to stop my stooze balance from deteriorating by putting my non-Amex transactions on there).
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