Halifax Mastercard One Credit Card

y2afuk

Hi, just a quick query regarding my Halifax Mastercard One Credit Card. My interest is Typical 23.5% APR (variable). I was wondering if I can renegotiate my interest rate? I currently have around £500 in debt. My credit limit is just over £8k. I've never missed a monthly payment since I've had the card in years. Just wondering what other people think? Is it worth the hassle of phoning them? or do I have a good enough deal? thanks :cool:

YorkshireBoy

You have a terrible rate!

I assume you have a very good reason for not shifting the debt elsewhere for 0%?

Even if you pay a 3% BT fee you'll be 'in pocket' after month 2.

denise123

my husband had this card, we changed it to a loan in the end, got an end date now, and lower interest rate etc. which suits us better.

we did ask the lady while we were talking about a loan if we would be better changing to a lower rate cc with halifax. At the time, she told us, that as we had one cc with them, they could not change it and transfer the balance to another one. something in their terms and conditions. This was about a year or so ago.

they may have changed this by now, am not sure as we dont use cc's anymore.

they quote on the halifax web site 15.9% apr on average. And I think this applies to all the CC's they do.

If you can do without the card, maybe a loan would be better for you, as it was for us. The APR was a lot lower, and it made one hell of a difference to our finances

you could transfer the balance to a different place totaly, and get a 0% APR for a certain period of time? if that still happens with this credit crunch thing going on.

sometimes staying as you are is the best way forward, just because its easier to deal with!

we wanted to change cards with the halifax to get that 0% apr on balance transfers, which was when she said they cant do that, its only an offer for new customers. sorry its no help to you at all, hope someone comes along soon.

y2afuk

ps: is there a email address I can email to? it'll save the hassle of phoning or sending a letter to them :beer: cheers

YorkshireBoy

Hassle of phoning?

You're better ringing them (find a cheap option from www.saynoto0870.com). Ask to speak with either their 'rates' or 'customer loyalty' departments.

denise123

just had a quick look for you on the halifax site, it says you can email them, but only if you have registared for online banking. sorry!

egghead

i had a letter last week of them saying their lowering my apr from 23.9 to 16.9, dont know why, but i aint complaining

NickX

I think you might get some success in Halifax lowering your APR if you call them and complain that it is significantly higher than the average quoted on the website for new accounts.

Others have had some success in doing this. Good Luck.

Infidel

YorkshireBoy wrote: »

Hassle of phoning?

You're better ringing them (find a cheap option from www.saynoto0870.com). Ask to speak with either their 'rates' or 'customer loyalty' departments.

I always have the 'phoning problem', but not so much the 'hassle of phoning' as the cost of phoning. As i only have a mobile on PAYG..... so it doesn't make good financial sense to call credit card companies etc.

Fifer73

I have a mastercard from halifax, this is a new card that i have as my old halifax visa was out of date.

My credit card rate is 12.9
A while ago they wrote to me saying that they would put the rate up to 16.9, so i got on the phone and politely said i wasnt happy that they were putting up the rate.

the first thing the customer agent tryed was to give me a loan as this would give me a" better rate", i told him i didnt need a loan and this was not why i was phoning, he transfered me to another guy, explained again ( also very politely that i wasnt happy with the rate and there are plenty credit card company;s out there looking for business)
He told me to ignore the letter and my rate would stay at 12.9 %

Phone them, stay chatty and friendly and just ask for reduction, if they do say no, which i dont think they will, then change company

Hope this helps any

456789

Infidel wrote: »

I always have the 'phoning problem', but not so much the 'hassle of phoning' as the cost of phoning. As i only have a mobile on PAYG..... so it doesn't make good financial sense to call credit card companies etc.

get them to call you :P https://www.halifax.co.uk/bankaccounts/callback.asp

it isn't just for bank accounts