We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Getting credit card interest reduction on outstanding balances
Kippers_2
Posts: 1 Newbie
in Credit cards
Rang up HSBC a few weeks back to see if I could reduce the impact of the the exhorbitant interest I was incurring on my card. It felt that whilst I met my minimum payments every month, the compounded interest on the outstanding balance meant that while I took ten steps forward I took nine back.
Their response was that whilst they could not reduce the APR, they were willing to reduce the interest on the outstanding balance, which meant that I effectively reduced the debt by nearly £300, of a £3,000 balance.
Make a call, you have nothing to lose. Then set at getting rid of the balance, don't spend it again, it is NOT your money, but what you pay is.:rotfl:
Their response was that whilst they could not reduce the APR, they were willing to reduce the interest on the outstanding balance, which meant that I effectively reduced the debt by nearly £300, of a £3,000 balance.
Make a call, you have nothing to lose. Then set at getting rid of the balance, don't spend it again, it is NOT your money, but what you pay is.:rotfl:
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards