pmsumner

So... as expected, Barclays want to have me bend me over, and take their shafting from behind :)

I talked to Barclays about methods of getting rid of my overdraught with them. As expected they offered me a loan. This is something that is of very little interest to me, as if I want a loan I can get it from other companies with much more flexible terms (and better interest rates) than Barclays can ever offer.

Out of curiosity I asked them to check what loan they could offer me. They offered me a loan to pay off my o/d (£1,400), paid off over 2 and a half years, at a rate of 18.9%! Nearly nineteen percent interest rate!? Ouch. I think I shall be telling them where to stick their paperwork, and approaching Egg, asking them whether they'll lend me the extra. Even if I do this, I will STILL pay less in interest than I would by paying my overdraught off monthly. Barclays charge approx 15% on auth overdraught, my current loan is at 7.7%....

Yeah, I think I shall do this...

Phil is a happy bunny. Jeez - looks like they think I'm a risky bloke - they wanted everything, including my inside leg measurement!

Anyhow, by the end of next week, bye bye Barclays. It's been a fun 6 years of overdraughts...