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[Dusty]

I have just received my Barclaycard statement this morning.
Sadly,I owe £3500.The interest each month alone is £44.

As the current interest base rate is only 0.5%,then does anyone know how Barclaycard can justify charging me 26.9%.

Are they crooks?. :-/
Is it Legal?. :-/

[tunnie]

i had a Barclaycard, gave you sod all in benifits. I switched.

You have to use credit cards as a tool, never spend in a month what you can't pay back is my motto.

Mine gets paid off in full every month.

[Andy B]

I have just received my Barclaycard statement this morning.
Sadly,I owe £3500.The interest each month alone is £44.

As the current interest base rate is only 0.5%,then does anyone know how Barclaycard can justify charging me 26.9%.

Are they crooks?. :-/
Is it Legal?. :-/

Try one of the cards that offer free interest for a limited time or Barclaycard do a life of balance interest free card - but don't use it to spend on.
Money saving expert Martyn Lewis's site is the one to look at.  

[Andy B]

.....
You have to use credit cards as a tool, never spend in a month what you can't pay back is my motto.

Mine gets paid off in full every month.

Fine sentiments if you have the income to do so. Not everyone is able to do so.  

[Big Bri]

Maybe you should look into creditcard with 0%... transfer rate period then you should think about swapping your provider again give you chance to pay off the balance and not their interest

[Dusty]

i had a Barclaycard, gave you sod all in benifits. I switched.

You have to use credit cards as a tool, never spend in a month what you can't pay back is my motto.

Mine gets paid off in full every month.

Just you wait Tunnie,as soon as you get your first mortgage ,then you'll see.
In a perfect world however,I would agree with you.

[Dusty]

Maybe you should look into creditcard with 0%... transfer rate period then you should think about swapping your provider again give you chance to pay off the balance and not their interest

There is now usually a 3% of balance transfer charge.
Long gone are the days when you could move money free of charge.

[Lizzie_Zoom]

I know where you are at Dusty.  I had a Barclaycard for many years and once I managed to get to £7,800 owing with a credit limit of £11,500 (and this was not the only card I had, with ones for Mastercard and a John Lewis Store card - limit £7,500 - ah, those were the days!! 8-) 8-) 8-)), but the cost of the interest was just so ridiculous, and indeed they all were, and paid it all off.

I'd advise you Dusty to take out a loan and pay your outstanding balance off. It will be far cheaper! Why give those greedy whatsits £44 a month??   ::)8-) 8-)

[Chris_H]

.....
You have to use credit cards as a tool, never spend in a month what you can't pay back is my motto.

Mine gets paid off in full every month.

Fine sentiments if you have the income to do so. Not everyone is able to do so.  

It's usually a 'mind/habit' thing. If you don't spend what you don't have, you can pay it off each month.

I deliberately spent 2 weeks at a Nairobi slum in 2005 to find out what I need to live on.  The effect is wearing off now but I can certainly remember that I don't need 9/10 of what I have.

[nick v6]

best thing is to find a company that does free money transfers
interst free
so keep swopping the balnce from company to company to keep it interest free

[tunnie]

.....
You have to use credit cards as a tool, never spend in a month what you can't pay back is my motto.

Mine gets paid off in full every month.

Fine sentiments if you have the income to do so. Not everyone is able to do so.  

But there is the problem, never spend what you cannot afford.

If you can't afford to pay an item off in the month you buy it, then don't buy it! Simple.

Some people seam to think credit cards are free money, and end up owing £10,000+

[Dusty]

best thing is to find a company that does free money transfers
interst free
so keep swopping the balnce from company to company to keep it interest free

Not possible these days Nick.
There is always a balance transfer cost,sometimes 3% for 6 months only. :-/ :-/

[Marks DTM Calib]

.....
You have to use credit cards as a tool, never spend in a month what you can't pay back is my motto.

Mine gets paid off in full every month.

Fine sentiments if you have the income to do so. Not everyone is able to do so.  

But there is the problem, never spend what you cannot afford.

If you can't afford to pay an item off in the month you buy it, then don't buy it! Simple.

Some people seam to think credit cards are free money, and end up owing £10,000+

And what exactly do you do when you have just bought a house, spent your savings and the oven packs up or the boiler goes.....

.....and you cant tap your parents up for cash!

[Dusty]

.....
You have to use credit cards as a tool, never spend in a month what you can't pay back is my motto.

Mine gets paid off in full every month.

Fine sentiments if you have the income to do so. Not everyone is able to do so.  

But there is the problem, never spend what you cannot afford.

If you can't afford to pay an item off in the month you buy it, then don't buy it! Simple.

Some people seam to think credit cards are free money, and end up owing £10,000+

And what exactly do you do when you have just bought a house, spent your savings and the oven packs up or the boiler goes.....

.....and you cant tap your parents up for cash!

Agreed .Tunnie just has it too easy.For now.

[Big Bri]

A thing with credit cards people pay the minimum payments and most of that is swollwed by the Interest ,Payment Protection Insurance and very little is taken off the balance the Interest rate is criminal .