Barclaycard Letter

[lee_obrien]

I've had a letter through today along with my statement (which includes a £20 late payment charge) from Barclaycard informing me they are reducing their charges for late payment, exceeded credit limit and Direct Debit/Cheque bouncing with effect 1st August 2006. The new charges are all now £12.00. Does this mean that Barclaycard now agree that their charges are too high and are therfore accepting liability for prior charges? Or has this been ordered by the OFT ?

	The Direct Debit Guarantee • The Guarantee is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own Bank or Building Society. • If the amounts to be paid or the payment dates change, we will notify you three working days in advance of your account being debited or as otherwise agreed. • If an error is made by us or by your Bank or Building Society, you are guaranteed a full and immediate refund from your branch of the amount paid. • You can cancel a Direct Debit at any time by writing your Bank or Building Society. Please also send a copy of your letter to us. This is a term of your banking contract and you can sue on it.

[lynzpower]

its not liability, its just them ahereing to the very basic of what the OFT have said is the most that they can charge.

Even if you get charged 12 you can still ask them to prove that this is a piquidated loss, which of course they probably wont be able to do

[Tinkerbelle]

Hope I am not hijacking, but here is the letter in it's entirety
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Changes to your Barclaycard Conditions effective 1st August 2006

Some important changes are being made to your Barclaycard Conditions, these changes are detailed below. As these changes may affect the way your account is managed, please take a few minutes to read about them.

OTHER FINANCIAL INFORMATION

Your cash rate

The monthly interest rate will change on your cash balance to 2.075% (27.9% p.a.). The new rates will affect any existing cash balance and all new transactions showing on your August statement.

Any promotional rates you are currently benefiting from remain unchanged.

Default charges

The default charges will reduce as follows: £12 if you do not make at least the minimum payment by the payment due date; £12 if you exceed your credit limit at any time; £12 if a direct debit, cheque or other item is not paid when first presented.

How can you use the account, card and Barclaycard Cheques?

We will add a new clause at 2.6: As a responsible lender we may suspend your rights to use the card for cash withdrawals or impose cash limits at any time. We will only do this, if based on usage of the card or card account or our assessment of the risk of lending to you, we reasonably consider that you may not be able to meet your repayment obligation to us. We will tell you before we take this action or as soon as possible afterwards.

How can you keep tack of your spending?

Clause 4.1 will be amended to read: We will normally send you, or make available to you electronically, a monthly statement showing your payments and all the amounts we have put on your account since your last statement. You must tell us if your statement includes something you think is wrong.

Please keep this letter safe for future reference.

[Chimera]

Does this mean I will have a battle to get back all monies? will they just refund the differnece... haven't started to tackle barclay card yet

[Ihatebanks]

Got my letter today but no mention of change to interest rate though!!
OH got her letter too, indentical to tinkerbelles

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.