ASking for interest reduction

funkyskunky

Hello All,

It seems i have my self in a bit of a hole and i am trying to get out of it.

I have a few Credit cards with money on, my credit rating is good so i ahve applied to get some interest free ones to help with most of it but i doubt they wil let me interest free all of it.

My Question is,

If i ask MBNA to reduce the interest on my card, will this affect my credit rating? and whats the best way to ask them?


Thanks for your help

CharliesAngel

Hello funkyskunky

The best way is simply to call them and ask why they feel the need (calmly) to charge interest at such a high rate and explain that you've found a better deal or thinking of transferring the balance to a better deal...

They put my interest rate up to 34.9% over the spring, I called them and it's back down to 15.9% - quite high in the scheme of things but not as rediculous as it was.

As far as i know interest rates are set by the company so shouldn't have any effect on your credit rating as long as you keep up payments - please somebody correct me if i'm wrong (nothing's shown on my credit file yet...)

CA x

funkyskunky

HI Can anynone else confirm this ?

Thanks