Barclaycard, the credit card arm of Barclays Bank in the
Barclaycard have informed the BBC that customers who regularly pay their full month’s balance may have their payment due dates brought forward. One of their customers reported to the BBC that his payment date, which had consistently been the 9th of every month, had suddenly been brought forward this January to the 3rd. Although Barclaycard deny that their aim is to catch people out and collect late payment penalties, that is clearly their objective.
Barclaycard’s Ian Barber told the BBC that Barclaycard are “having to face up to the fact that clearly we are not making as much money out of customers that pay their bill in full as we are out of those that borrow… Once we recognise that someone is regularly paying their bill in full, we will shorten the time that they have got to pay.”
Barclaycard’s late payment fee is £20, which is equivalent to just over $35.
My guess is that if Barclaycard are moving payment dates forward, then other banks are either also doing it or will be doing it very soon. Credit card companies are greedy wankers – look at your statements carefully.