Has anyone negotiated an extended 0% period?

egyptiangirl

Mine's coming to an end (M&S) and wondered if they would consider extending it. Has anyone ever managed this?

If not, I will get another card as I only use them to collect rewards and pay balance every month.

Just thought that in these times that might do anything to try and keep some custom although I appreciate I'm not their perfect customer paying off each month

Clariman

Hi egyptiangirl

I wrote an article on this a couple of years ago which gave hints and tips on how to negotiate an extension. The basics all still apply http://www.stoozing.com/a_extend.htm

td_007

Unfortunately these days extensions of deals almost never offered. Two of my cards, one BT and one purchase came to the end of 0% and they were happy to close it without even entering into a conversation about extension

CannyJock

td_007 wrote: »

Unfortunately these days extensions of deals almost never offered. Two of my cards, one BT and one purchase came to the end of 0% and they were happy to close it without even entering into a conversation about extension

Best repeat I got couple of months ago was a 9 months 0% BT with a 0% fee from Natwest - read Clariman's article on how to go about it, especially Rule 1 about not having a balance on the card.

Karl.H_2

I was thinking of giving this ago with my Halifax card. I am not Stoozing but I want to see if it can be done. Now, I have a balance of £200-ish waiting to be paid off and I have managed to change the DD to be paid off in full; I believe this shows I am serious and not desperate. The article listed above is very useful but I have a question: it suggests you should wait until the introductory offer has expire, but I was wondering if it is possible to attempt to increase the introductory offer by spinning some line I have a big purchase coming up and I would rather stick with Halifax and not apply for another card, etc. Plus, the card is useful as it has a greater limit which was just given to me a month ago (rather cheeky considering its near the end of my introductory offer :rolleyes:).


Has anybody managed to negotiate an extension, and how many months can I realisticly ask for? However, I have no credit card debts so I would be trying to increase my 0% on purchases.

tipsychick

Hi Karl.H

Unfortunately Halifax aren't know for being generous with their repeats at all. It's always worth a try but I'd be surprised if they play ball, particularly if you're still technically in an introductory period. If you close the card down, you'll be treated as a new customer after 30 days and can reapply for whatever they're offering then. The good news is that they're almost always offering something!

Just a word of advice re: switching a DD from minimum to full payment, this can be a very hit and miss process, even if you've been advised verbally that it's been done. The only way of knowing for sure is if it's showing as "DD full payment" on a written statement. I'd personally just top up your minimum DD with a one-off manual BACS/Faster payment for the difference and clear the card that way. Control is everything and that way you know it's been done!

Generally when negotiating extensions, it goes up in three month increments, i.e. three, six, nine or even twelve months (those were the days!) I think you'd be doing well to get six months at 0% on spending in the current climate.

The forums on the stoozing website are a good place to head to hear about what deals people have managed to obtain recently.

Karl.H_2

tipsychick wrote: »

Hi Karl.H

Unfortunately Halifax aren't know for being generous with their repeats at all. It's always worth a try but I'd be surprised if they play ball, particularly if you're still technically in an introductory period. If you close the card down, you'll be treated as a new customer after 30 days and can reapply for whatever they're offering then. The good news is that they're almost always offering something!

Thank you for letting me know this. To be honest, I am not needing the extended period, but it's always worth a try. I enjoy trying new things re: money. We'll see what happens. Have you heard of many extensions of 0% Purchases deals?

Just a word of advice re: switching a DD from minimum to full payment, this can be a very hit and miss process, even if you've been advised verbally that it's been done. The only way of knowing for sure is if it's showing as "DD full payment" on a written statement. I'd personally just top up your minimum DD with a one-off manual BACS/Faster payment for the difference and clear the card that way. Control is everything and that way you know it's been done!

I have the same worry too. Just incase they don't take the full amount (I did this online), I have changed it a month early so that if it doesn't go through I can simply pay it off when the next statement arrives; I will, however, double-check the when the payments are due to go out. Ultimately, I can pay it off whenever.

Generally when negotiating extensions, it goes up in three month increments, i.e. three, six, nine or even twelve months (those were the days!) I think you'd be doing well to get six months at 0% on spending in the current climate.

Thanks for this too. I will attempt to get, say, 6 months and work from there. As you mentioned, getting 12 months extra is somewhat unlikely. Initally, my credit card had 9 months so I believe they are even more unlikely to offer another 9 months.

The forums on the stoozing website are a good place to head to hear about what deals people have managed to obtain recently.

I registered on there sometime ago because I was planning to start Stoozing, but then the recession came.

I have to type something here too because this post apparently is too short :T

zzzLazyDaisy

Clariman wrote: »

Hi egyptiangirl

I wrote an article on this a couple of years ago which gave hints and tips on how to negotiate an extension. The basics all still apply http://www.stoozing.com/a_extend.htm

Good article - food for thought, thanks.

I normally pay my CC balance in full each month - but I prefer to use a 0% purchase card and leave my money in the bank earning interest. I hadn't really thought of it as stoozing, but I suppose it is, in a way. My Halifax 0% purchase offer will expire end Sept, so I'm about to start looking for a new one - but having read your article I'm wondering if there is any mileage in trying for an extension - any tips specifically for purchase cards?

Thanks

anewstoozer

I recently called Halifax to close my card account, after the 0% period ended. After asking me why I wanted to close, the offered me a new 0% deal for an extra 6 months.

CannyJock

anewstoozer wrote: »

I recently called Halifax to close my card account, after the 0% period ended. After asking me why I wanted to close, the offered me a new 0% deal for an extra 6 months.

Nice, what sort of fee did they charge for that?

anewstoozer

3%, but I was more than happy to take up their offer as it saved time and effort shopping around for a new card to transfer the £4,500 balance to. I found them quite helpful, yet not forceful like some. Every time I ring Barclaycard they try their best to sell me payment/card protection cover.