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Bargaining with Barclaycard

sweeper12
sweeper12 Posts: 227 Forumite
in Credit cards
Has anybody ever managed to get Barclaycard to lower the existing interest rate payable ? My son has been with them for 5 years and tried to negociate a lower rate with them - he currently pays 29.9% but they turned him down flat. He is a student but does earn an income albeit not a large one so he would like to pay off his balance faster and thought they might consider it.

Has anybody tried this and been successful ?

Thanks

S x

Comments

  • iceage3
    iceage3 Posts: 235 Forumite
    What was is rate when he first started ?

    Was it14.9%

    i would pay it off and go else where unless its got some bonus on it.
  • chattychappy
    chattychappy Posts: 7,302 Forumite
    sweeper12 wrote: »
    he would like to pay off his balance faster and thought they might consider it.

    I think that's the problem - they don't want him to pay it off because they make more profit by protracting the debt and collecting more interest.

    I'm afraid he'll have to move it. Then, of course, they'll probably make an offer to have a debt transferred back!
  • 97trophy
    97trophy Posts: 915 Forumite
    sweeper12 wrote: »
    My son has been with them for 5 years and tried to negociate a lower rate with them

    Sorry but that puts your son in his early twenties! Your son is going to have a lot more problems then his APR.
  • sharpy2010
    sharpy2010 Posts: 2,471 Forumite
    97trophy wrote: »
    Sorry but that puts your son in his early twenties! Your son is going to have a lot more problems then his APR.

    Eh? Like?
  • never-in-doubt
    never-in-doubt Posts: 20,613 Forumite
    sharpy2010 wrote: »
    Eh? Like?

    think about it for a moment, change the context and then sit back and think...... :rotfl:
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • starsky365
    starsky365 Posts: 104 Forumite
    I have a platinum and a cash back (inherited from morgan stanley/goldfish) they gave me 6.9% life of balance when I threatened to balance transfer away.
  • sweeper12
    sweeper12 Posts: 227 Forumite
    Thanks for all of your replies

    I think maybe I'll suggest that he could try for another card and then do what Starsky did, threaten to leave them and see what they do. It's worth a try...........

    S x
  • keithboy40
    keithboy40 Posts: 303 Forumite
    Part of the Furniture Combo Breaker
    starsky365 wrote: »
    I have a platinum and a cash back (inherited from morgan stanley/goldfish) they gave me 6.9% life of balance when I threatened to balance transfer away.

    when were you offered that
  • starsky365
    starsky365 Posts: 104 Forumite
    when were you offered that

    About 4/5 months ago I think
This discussion has been closed.
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