Money Saving Expert Martin Lewis has shared an urgent warning to Barclaycard customers ahead of the chain's decision to change repayment terms next week saying it could see you 'pay double'
Martin Lewis has sounded the alarm for Barclays customers, cautioning: "You'll pay double," as part of a new rollout of minimum repayment terms for its popular credit card. The BBC Sounds podcast host and a familiar face on ITV has alerted his Money Saving Expert newsletter readers through his Twitter account about the change, which is due to come into force next week.
Minimum repayments are already structured to keep you indebted for the longest time possible, as they reduce alongside your decreasing debt and this reduction only exacerbates the issue. Barclaycard should have sent you a written notification about this adjustment earlier in the year the company began emailing customers in April.In an email dispatched to its customers, Barclaycard stated that the alteration "gives you more flexibility with your monthly payment".
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