Need a new card to replace my super expensive HSBC card

never-in-doubt

97trophy wrote: »

phone hsbc and ask for a apr reduction, it has worked for others.

Yes as HSBC work their APR on your behavioural score.... So if they refuse to lower the APR threaten to leave and mention that you'll also close the bank account and pay the new bank your debit interest on the card!

Otherwise I can only assume your score is less than 50 which would mean the highest tier of APR........ have you exceeded your o/d or missed payments lately....?

never-in-doubt

Ritchie74 wrote: »

I beleive you can demand to keep APR at current level if you agree to close the account (but continue to pay it off). .

Yes you can - this is correct. Whenever a bank increases its APR you have an option to repay the debt at the original rate but the account becomes closed as such.

Toe-Jam

EZTutty wrote: »

My HSBC Credit Card rate has gradually risen from 13.9% to 20.9% over the past 12-18months.

Today i got a note on the bottom of my statement saying that the rate would be increasing to 25.9% :eek: I have just under £5000 on this card at the moment, but am starting to make monthly payments of £400 a month so get it cleared asap. However at 25.9% the interest is still going to be crazy.

So i need to find a lower rate card (0% on Balence transfers would be nice) however when i tried to get a 0% deal for a new card to move this debt to approx 3-4months ago, i struggled to get a new card (i'm guessing due to the current global financial situation) as i never had problems before.

I just wondered if anyone can offer any advise of good cards to go for, that i'm likely to actually get, and with decent rates? (just to note i already have a barclaycard, and have recently closed a tesco card, so there out of the question :rolleyes:)

I'm 22, earn approx 36k a year, and have a clean credit history, i'm also a homeowner (with a mortgage)


Thanks

Paul

I had a student barclaycard since i was 18, never missed a payment never over the limit. A few weeks after they outsourced to india* (i am mearly pointing out this co-incidence) they increased the apr from 19.9% to 37.5% !!

I called to see what was going on and she basically said, we don't make enough money from you so you have to pay more interest. I told her i would cancel , and she said OK. Goodbye.

i sent a fax to the UK complaints department, and someone called me from credit card retentions telling me how wonderful i was kiss kiss kiss, and decreased the rate to 6.9%:beer:

So definitely worth having a rumble with them about it.