Paying off a cc - can you get a deal?

MaxedOutKev

Hi all,

Hopefully not a silly question, but I'm in the position where I can pay off my cc's. Question is, if I offer to pay off the balance in full, could I ask for a reduced total balance due to the length of time I've been with the cc company, and how much interest they've made out of me? If so, any chance of getting one? Maybe if I tell them I'll keep the account open rather than close it.

Has anyone tried this? Maybe a shot in the dark, but wondered if it's worth it.

Cheers,

MaxedOutKev

jonesMUFCforever

If you are not in default - NO.

If you are in the hands of their collection service maybe but your credit score would be shot to bits for the next 6 years.
Will you be needing any cards,loans,overdrafts,mortgage,mobile phone contract,catalogue acounts etc etc in that time? If so I would recommend settling in full.

roswell

You spent it .. why should they give you a dicount for spending there money,

if i asked to borrow £100 off you then offered to pay you back only £20 woudl you like that ?

exel1966

MaxedOutKev wrote: »

Hi all,

Hopefully not a silly question, but I'm in the position where I can pay off my cc's. Question is, if I offer to pay off the balance in full, could I ask for a reduced total balance due to the length of time I've been with the cc company, and how much interest they've made out of me? If so, any chance of getting one? Maybe if I tell them I'll keep the account open rather than close it.

Has anyone tried this? Maybe a shot in the dark, but wondered if it's worth it.

Cheers,

MaxedOutKev

They'd probably laugh if you suggested that you'd keep your account open only if they'd made an offer to you !!

It's your credit history. If you want to destroy it then go ahead and do as you suggested. Otherwise, take a step back and have a rethink. Think long term, not short term.

This question comes up from newbies every week - Take a look at the previous threads and you'll find very similar answers to those above.

MaxedOutKev

Thanks for the taking the time to reply, I didn't think so, but as pointed out I'm a newbie so I'd thought I'd ask.

You make a good point Roswell, but I was just looking at the amount of interest I'ver paid as I've had the card for a number of years. I don't want to screw up my credit rating now as it's taken long enough to get it sorted so I'll pay the balance and be happy with that!

Good website by the way, glad I stumbled across it. Found a few good tips already!

Cheers,

MaxedOutKev