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Has ANYONE got a lender to reduce rates ?
Kev64
Posts: 126 Forumite
in Credit cards
Reading Martin's Credit Card Shuffle guide - http://www.moneysavingexpert.com/cards/cut-credit-card-interest, it says one option is to ring the lender and ask for a rate reduction etc.
I've just got off the phone to Egg, who are charging me 19.9% APR, and I've cleared the balance completely (I'm in credit in fact ! - a mistake on my part !), and was treated with disinterest (npi) by a man who said he couldn't change any interest rates or offer me anything at all. When I asked to be put through to the department that deals with account closures, he told me that he could do this for me. I obviously don't want to close the account, so my bluff was called.
They offered me nothing to keep my business - not a thing... despite having a good credit rating and a limit of £12,000.
Has anyone had any joy doing this ?
I've just got off the phone to Egg, who are charging me 19.9% APR, and I've cleared the balance completely (I'm in credit in fact ! - a mistake on my part !), and was treated with disinterest (npi) by a man who said he couldn't change any interest rates or offer me anything at all. When I asked to be put through to the department that deals with account closures, he told me that he could do this for me. I obviously don't want to close the account, so my bluff was called.
They offered me nothing to keep my business - not a thing... despite having a good credit rating and a limit of £12,000.
Has anyone had any joy doing this ?
0
Comments
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Yes, they have.0
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Which lenders are likely to offer reduced rates? I have a similar position with an extortionate rate that my lender refused to convert to a loan as, apparently, this wouldn't constitute "responsible lending" by them and by paying the minimum amount, which is all I can afford my balance is going nowhere, and sometimes even increases despite me not using the card at all.0
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