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Old Dec 5, 2012, 11:23 AM   #1
ncstatebmw
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Join Date: Dec 2012
Barclays 0% card security

BEWARE: I called to get my account number for my new Barclays account used for purchasing macbook air. I was trying to setup my first payment and had not received my card in the mail. When I called the system told me that my account balance was somewhere around $2200 as opposed to $1900 facinity that it should have been. I inquired and found that a charge of $319 had recently been charged to the card.

Resulting from the call they put an inquiry to remove the charges from my account. That's great, but here is my problem with this.

When I received the new card in the mail, activating the card was as simple as entering the 3 digit code on the back of the card!!!!! What? Are you kidding me? Why is it that activating my other cards is done with a seperate code that is sent in a seperate piece of mail? Barclays is a bunch of idiots. I browsed around the internet and also see that Barclays cards are easy to scan while in your wallet and have exposed its users to fraud on another level.

When I was on the phone with Barclays I inquired how their security could be so lax and of course all I got was a sorry! Nothing pisses me off worse than just ignoring the problem, beside the fact that I was already inconvenienced.

Anyway, I like 0% financing. Here's a suggestion to those doing this. Get your balance paid off early so you don't risk the credit card companys bait and switch tactics. They will often miscredit your accounts or improperly record your payments in order to make you default on your payment so they can make you end up paying all the interest you supposedly saved with 0% financing. Now what I do is calculate the monthly payment that I need to payoff in the terms of the 0% financing. Add $1 and make that payment amount every 2 weeks. You will have the balance paid off in half the time with 0% financing. If a payment is not credited in any one month it doesn't matter if your are ahead of payment. They still count that as a late payment. This method protects you because you are always making two payments in 28 days padded by whatever extra days might be in that month. You are guaranteed to have a least one of those payments hit in every month.

Banks try to screw you, so watch your back.
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