Rate for life?

angelpye

Hi all again

I have been reading the info on the site and its jsut too much for my brain tonight...
what I wanted to know was are the credit card company's still offering a low interest rate for the life of a balance or has this stopped? And if they are does this hit your credit rating?

thank you for any simplistic explanations you are able to give

Tixy

Some do still offer it.

No reason for it to negatively effect your credit file (assuming you make payments on time etc).

Have a look here for some of the best deals around http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards#mbna59 and http://www.moneysavingexpert.com/loans/plastic-loans#rateforlife

angelpye

The type of deal I was thinking of was previously I was late on a couple of payments and they offered to reduce the rate for life but obviously stop any further spending. but I wondered if they did this because I was saying I had trouble paying that it would be seen negatively as some sort of repayment schedule?

Tixy

I don't think its common for a card provider to agree to reduce the APR on an existing card / debt to a really low rate. Although sometimes they will agree to drop the rate a little if specifically asked.

When cards are closed to further spending (e.g. when a person opts out of an interest rate rise) this shouldn't show as any different on a credit file to a live account. So shouldn't negatively impact on your credit file.