Just block it!!!

Tuesday 23rd September, 2008 - £7,926.83 in debt…

Barclaycard has got to be my least favourite financial corporation now.

I’ve had my card for over five years and, during that time, I’ve exceeded my limit and missed the odd payment. The Barclaycard people know that I’m not great with money, and they’ve had to write me a couple of nasty letters. But, as with any long-term relationship, they’ve learned to love me for my faults.

Over the last four months, I’ve phoned them twice to tell them I’m paying off my debts and to ask for various favours. The first time, I asked for a decrease in my APR and a block on my card. They said they’d do both of these things, but in practice they did neither. The second time I spoke to them, they again said they’d block my card, but then they sent out a shiny new one.

Obviously they weren’t going to be any help in my quest to repay my debts, but I wasn’t expecting an increase to my credit limit. An INCREASE! To £4,000! I hadn’t asked for it - the letter just arrived out of the blue.

Now, I’m not unreasonable. I know that Barclaycard has to make money, and I understand how the system works. I’m not one of those people who’s going to start blaming the banks for my uncontrollable spending urges. However, I’ve been led to believe that the credit card issuers in the UK have some kind of obligation to be responsible lenders.

And increasing the credit limit of a customer they know is a high risk, and who they know is strugglng to repay her debts, just before Christmas…? That doesn’t seem very responsible to me.