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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:
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