Barclays Credit card department,
I was starting my small business in - - about two years ago. I ordered an - computer using the Barclay credit card which offered what I thought was 2 years no interest. It turns out it was - years deferred interest. This was not clear to me at the beginning nor was the amount I would end up be charged in interest if I only paid the minimum payment every month. I was n't made aware of the coming interest charge until a month before the deferred interest kicked in. The interest charge on my - bill was a $1500.00. I have struggled to keep my business afloat in a tough market in - of the most expensive cities in the world. I am a -. My rent and expenses are a burden. Suddenly, I have been hit with a over $1500.00 interest charge. Its a disaster for my business and for me personally. I believe the terms on these cards need to be VERY CLEARLY stated to people interested in using them or out-lawed all together. That -, the most profitably company in the world, does this to small businesses and everyday consumers is a disgrace. I fully expect to pay interest on credit but this is just a dirty trick.
Barclays customer in New York
Jun 10, 2015
* Source: CFPB Complaint Database
Barclays response to complaint:
Closed with explanation
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