negotiation possibiliites?????

davegib20

Hi,

I know from reading previous threads and the many articles about this topic that negotiating better deals works in many different circumstances.

But does it work with bank accounts?

I have an overdraft which i am paying silly amounts of interest on and have found the A&L current acc offering 0% facility for 12 months. I know this is a comptetitive market also, so can you negotiate better rates using a threat to go to a competitor as a bargaining chip?

Failing this I can always switch to a low rate credit card.

Any help would be greatly appreciated.

Thanks

grumbler

davegib20 wrote:

...I have an overdraft which i am paying silly amounts of interest on and have found the A&L current acc offering 0% facility for 12 months. I know this is a comptetitive market also, so can you negotiate better rates using a threat to go to a competitor as a bargaining chip?...

If you can pay £500 p.m. into your account and are 21+ y.o. upgrade to Premier Direct Current Account with 5.9% interest rate on overdrafts. If they don' allow you to do this I don't think you are in a position to threaten them ...

5.9% interest rate is very low; very few CCs can beat it ...