We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Credit Card Co refuses to review my rate
StuntmanBob
Posts: 273 Forumite
Hi just spoke with my "platinum" card provider who is charging me 24% p.a. and I pointed out that as I can only afford minimum repayments they might like to consider reducing my rate to make it easier for me to reduce the debt in a reasonable timescale.
They said there is "nothing" they can do apart from asking me to fill in forms which show I'm in difficulty then they will review my account and consider stopping the interest charges.
I'm wary because of course as soon as I do that I'll be flagged as a high credit risk and my finances will be in ruins.
Anyone had any luck in making card company see sense?
They said there is "nothing" they can do apart from asking me to fill in forms which show I'm in difficulty then they will review my account and consider stopping the interest charges.
I'm wary because of course as soon as I do that I'll be flagged as a high credit risk and my finances will be in ruins.
Anyone had any luck in making card company see sense?
0
Comments
-
Fraid not. Had same arguement with capital one. I voted with my feet and applied for a 0% bt card with barclaycard and transfered my balance. Funnily enough ewhen i called to close the card the seemed to want to fall overthemselves to offer me a reduced rate to spend again.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
0 -
It's outrageous - I'm rapidly heading for a brick wall here and when I do they won't get a penny back. Although I'll be ruined!0
-
StuntmanBob wrote: »Hi just spoke with my "platinum" card provider who is charging me 24% p.a. and I pointed out that as I can only afford minimum repayments they might like to consider reducing my rate to make it easier for me to reduce the debt in a reasonable timescale.
They said there is "nothing" they can do apart from asking me to fill in forms which show I'm in difficulty then they will review my account and consider stopping the interest charges.
I'm wary because of course as soon as I do that I'll be flagged as a high credit risk and my finances will be in ruins.
Anyone had any luck in making card company see sense?
do the paperwork see if they will freez the credit charges..and dont worry too much about the affect on your credit rateing ... i say that because if your rateing has the one card flagged thats peanuts compared to the banks themselves
most people now have problems and within a few months many more will
in the bigger picture one card flagged is nothing and if you get the charges stopped its worth itIn London, you're never more than 20 feet away from someone telling you you're never more than 20 feet from a rat .0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards