Offered higher interest rate than typical customer

Beverley

I have a 2 credit card debts: £3086 with Capital One (APR 10.2%) and £2114 with Lloyds Platinum (APR 13.2%)

I am slowly reducing them but was pleased to see that Halifax One were offering 0% balance transfers for 12 months so applied for a card.

Today I received a letter saying that my application has been approved and "We are able to offer you a rate of typical 17.9% APR variable". I'm presuming that this applies after the freebie period is over but will check it out before accepting the contract.

However, according to the website, the 'typical rate' is 15.9%, NOT 17.9% - is there any point in me querying this and seeing if they'll reduce it?

I was hoping to transfer the £5200 which I can pay off at a rate of £150 per month so would be looking to transfer again just before the end of the freebie period but am concerned that the credit card companies may not be so generous with 0% transfers so don't want to get landed with higher interest rates in the long run.

Any thoughts?

Beverley

Astaroth

If you dont intend to pay interest after the introductory offer by transfering it away then it doesnt really matter what the interest is does it?

If the 0% intro offers were stopped before you had finished paying the card off then you always have the 10.2% capital one card to move the balance to which would almost certainly be cheaper than leaving it on a card at either 17.9% or the typical 15.9%

jay78

Make sure that you have actually been offered the introductory rate. The typical rate is actually 15.9% Variable. So depending on your credit score you can actually get a higher rate.

M_Thomson

From the Halifax website:

Personal Pricing

As we treat all our customers and their applications on an individual basis, the APR and interest rates we offer is determined by the details customers supply, along with an independent verification of credit and repayment history. For the first 12 months you will get 0% for balance transfers (with a fee of 2%) You will also get 0% for 3 months on purchases. Your personal APR for purchases will be either 15.9% APR (variable), 17.9% APR (variable), or 19.9% APR (variable). Your interest rates for balance transfers will be the same as for purchases. Two thirds of customers are offered our best rate of typical 15.9% APR (variable).