will credit card companies stop applying interest if you ask them?

thatdamien

After years of bad debt I have sorted most of the big ones and am left with a Citi card credit card owing just over £900 They have withdrawn the card yet they still charge me 27.9% APR interest. Due to bad credit history I don't think a zero %balance transfer is an option. Am I able to ask Citi card to freeze or reduce the interest charge? I have no intention of using/applying for the card again.

stephane_2

No you can't, but if they are planning to increase the rate in the future then you'll have the opportunity to opt-out, which means you'll pay the debt at your current rate, but the account will be closed

thatdamien

cheers, they wrote to me a few months back informing me of an increase and admittingly I didn't do anything, do you think its worth asking to opt out retrospecively? Thanks again. D

DGJsaver

Err , Stephane , YES he can ask , wether they say yes is another thing , if the account is in default , or the OP has missed payments etc then it can turn out to their advantage anyway , in regards to the interest rate applied and wether the creditor sells to a DCA at some point

stephane_2

You only have 30 days from the moment you receive your interest rate increase notification to opt-out

stephane_2

DGJsaver wrote: »

Err , Stephane , YES he can ask , wether they say yes is another thing , if the account is in default , or the OP has missed payments etc then it can turn out to their advantage anyway , in regards to the interest rate applied and wether the creditor sells to a DCA at some point

He can but he won't get it...simple as that

thatdamien

thanks to both of you, I'll write to them anyway - worth a try! cheers

D

DGJsaver

stephane wrote: »

He can but he won't get it...simple as that

Exactly , he CAN ,as i said and as you dont appear the most helpful on here , would be good to know more of the OP`s situation , to advise him the best course of action

stephane_2

DGJsaver wrote: »

Exactly , he CAN ,as i said and as you dont appear the most helpful on here , would be good to know more of the OP`s situation , to advise him the best course of action

All common sense....

DGJsaver

stephane wrote: »

All common sense....

Not everyone has it.....;)

thatdamien

sorry, am new to this - am I the OP?