Did Halifax card sevices lie to me?

mad4credit

I phoned customer loyalty at HBOS card services to enquire if they could offer me a balance transfer deal at 0%. I was offered a 9 month interest free period plus 3% fee. I was happy and will take it up in the next couple of weeks.

I then asked if it would be possible to reduce my overall rate of 21.95% to their representative rate of 17.9%. I was immediately told that the banks were no longer doing this any more. I felt like I was been told a lie. Is this true? I know that Capital One Progress reduce their interest rate by 2% every 6 months.

Further frustration arrived in the post yesterday. I received a letter from card services stating my account had been closed upon my request. I phoned them straightaway in shock and they apologised and said that the letter had been sent out in error. What are they playing at?:mad:

vuvuzela

mad4credit wrote: »

I phoned customer loyalty at HBOS card services to enquire if they could offer me a balance transfer deal at 0%. I was offered a 9 month interest free period plus 3% fee. I was happy and will take it up in the next couple of weeks.

I then asked if it would be possible to reduce my overall rate of 21.95% to their representative rate of 17.9%. I was immediately told that the banks were no longer doing this any more. I felt like I was been told a lie. Is this true? I know that Capital One Progress reduce their interest rate by 2% every 6 months.

Further frustration arrived in the post yesterday. I received a letter from card services stating my account had been closed upon my request. I phoned them straightaway in shock and they apologised and said that the letter had been sent out in error. What are they playing at?:mad:

Comparing it to Capital One Progress isn't really a good comparison as that is designed to start ultra-high for people with poor/low credit history and decrease*if* you conduct your account properly. So they didn't really lie to you, banks can vary their rates as and how they want.

Cap One :

• Shrink your interest rates from 29.9% to 17.9% p.a. variable in 36 months
• Stay within your credit limit, keep up to date with your minimum repayments and you could get a lower rate

(my bold)


However sending the letter out to you is a poor sign of a disorganised customer service person who clicked the wrong button.

mad4credit

Customer loyalty didn't say the Halifax were no longer reducing APR rates, but he stated "the banks are no longer doing this". Can anyone else confirm if indeed the banks are currently not reducing their interest rates to customers who have managed their account well.

Perhaps I should just cancel the card and re-apply in the hope of getting the representative rate.

redpete

mad4credit wrote: »

Perhaps I should just cancel the card and re-apply in the hope of getting the representative rate.

But what happens if they reject your application, or offer you an even higher APR, and you can't get a cheaper card anywhere else?

mad4credit

redpete wrote: »

But what happens if they reject your application, or offer you an even higher APR, and you can't get a cheaper card anywhere else?


I guess that is always possible, but in my case highly unlikely.:D

scott_lithgows

Apply for the Bank of Scotland card if it,s a Halifax one you have just closed or vice versa.

sharpy2010

mad4credit wrote: »

I guess that is always possible, but in my case highly unlikely.:D

Nothing is guaranteed in this day and age of credit applications, so you should not assume anything until you have the card in your hand, or you are subject to being disappointed.

opinions4u

Different banks do different things at different times.

Halifax call centre staff cannot speak for "all the banks" on pricing and retention policies.