Barclays Bank Loans Review

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2.5 stars
Average rating for this product is: 2.5 out of 5

From 5 ratings and 6 reviews

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racoosho's Review of Barclays Bank Loans

23rd May 2007

Overall Rating

4 stars
  • Value for money
    4 stars
  • Loan Rate
    6.9

Personally I believe that the above comment is incorrect, when a customer comes into Barclays for a loan/credit card, Barclays can only hand out the information that customer is liable to hear, if the customer is not approved for the product, they are told, if the product is on a variable rate, the member of staff cant tell what the interest rate will be in 6 months time due to tax/inflation, bank staff aren't miracle workers, they only are there to help with and sell the product, bank staff do not know future interest rates, they are financial advisers, not politicians, the information is only valid for the time of taking the card, it is upon the customer to decide whether they can afford a product or not. Stop blaming the bank and stop borrowing money that you cant pay back. The same applies of overdrafts, everyone seems to think that they are wrongfully. The reason people are charged is because it shocks the person with the account. The reason you are charged is because you are borrowing money that does not belong to you, if the bank charges (for everyone) was to be abolished, EVERYONE would go overdrawn thinking that it is OK, all banks and building societies will go bust, and you will have no place to go to gain money from interest, no direct debits to set up at companies, no credit cards, as you need a bank account to be approved, and to pay off fees, no loans, mortgages, or any other finance related product, overdrafts stop your bank going bust because customers cant control there money.

PS: a direct debit takes 3-6 DAYS (max) to leave your account, write down your account activity so you don't go overdrawn, and you wont be charged in the 1st place.

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Alliance & LeicesterGood8.00%8.00%£7,500.00£14,950.00No
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