Barclaycard 'irresponsible' for cash offers

[Sweetpea]

Barclaycard was accused of “grossly irresponsible” behaviour yesterday after sending a letter to customers enticing them to take out cash - without mentioning a 27.9 per cent interest rate.

Britain’s biggest credit card company sent the letters to thousands of its customers, reminding them to take out 'instant cash’ from cashpoints but neglecting to mention the interest which accrues from the moment it is withdrawn.
There is also a minimum £2.50 fee for the withdrawals, or 2.5 per cent of the amount taken out. If customers do not pay back the money straight away, the debt will quickly increase.

http://www.telegraph.co.uk/news/uknews/1964474/Barclaycard-%27irresponsible%27-for-cash-offers.html


Barclaycard really are the scummiest bunch.

If you can't pay your debts, you're stigmatised.

If a moneylender screws you - hey you should have known better!

I never confuse moral issues with anything to do with banks and moneylenders. My advice is :- If you can't afford to pay em' back - Fuck em!

[Hekna]

I think one of the bigger problems that got me into a lot of trouble financially when I was a student is that they really do try to skim over the true costs. I was offered one when I got my student account and took it. I had to pay for a field trip (to Morecombe of all places!) and took the cash out on my credit card. BIG mistake! They should only be given to over 21s.

Pure loan shark tactics.