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Negotiating a better APR & Credit Limit
Majestic
Posts: 89 Forumite
in Credit cards
Just about to ring Capital One regarding a card that has a limit of £1000 (with an outstanding balance of £7).
I've had the card a few years now.
If possible I want to increase the limit and decrease the ridiculous APR of 35%.
I won't be using the card for anything, just looks good in regards to my total unused credit on my credit report.
That said I am also considering of transferring one of my wife's credit cards over on an interest free balance transfer to save a few pennies.
Question is how do I approach them about getting a better deal?
I've had the card a few years now.
If possible I want to increase the limit and decrease the ridiculous APR of 35%.
I won't be using the card for anything, just looks good in regards to my total unused credit on my credit report.
That said I am also considering of transferring one of my wife's credit cards over on an interest free balance transfer to save a few pennies.
Question is how do I approach them about getting a better deal?
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Comments
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You ask them, but be prepared for them to say no. You might get lucky but the odds are against you.
You might want to say that you re looking to close the account - but be prepared for them to call your bluff.0 -
I would ask about the increase first but I believe I remember other people saying that Capital One don't do increases on demand. In the unlikely event you are successful you will know computer obviously thinks you're good for the money so you could ask the assistant about your rate.Graduated 16 July 2013 with First Class Honours :jHouse Deposit: £6,493.10 - Cashback Total: £447.670
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If you are not going to use the card why you want a better APR? That doesn't show on your credit file.
You can certainly request an increase to your credit limit.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Why would they lower your APR.....no chance0
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Agreed. They will not budge on either.I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂0
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If your credit rating is better now, apply for a better card with better APR than sub prime?0
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