It also provides an additional credit facility of between Pounds 1,000-Pounds 3,000. Interest will be charged at the same rate as Barclaycard - 21.6 per cent APR -and there will be no annual charge.
Undoubtedly, Barclaycard will rely on the contributory negligence of your daughter to pursue her for the debt. This sorry tale obviously is very complicated.
The example of credit cards shows that established issuers like Barclaycard can hold out against new entrants who undercut them.
Last year the department made a profit of Pounds 45.7m. 'The cost of buying funds on the money markets only represents half our costs,' said Christine Tucker, of Barclaycard.