We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

requesting lower interest rate

lostcause82
lostcause82 Posts: 148 Forumite
in Credit cards
I have read online about people ringing their card provider and requesting lower interest rates on cards. My m-in-law is paying a high interest rate 29.95% (thanks to those who worked it out for me).

Has anyone on here done this? Any tips to share?

Thanks

Comments

  • UsetheFORCE
    UsetheFORCE Posts: 688 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Ring up the company, especially if your credit file has improved since you got the card, they maybe able to lower it or offer you a cheaper product.

    29.9 is not as high as the 79.6 on my credit card!!! lol
    I have numerous qualifications in Business and Finance, Accountancy, Health and Safety and am now studying Law.

    Don't rely on anything I write as it may be wrong!!!
  • lostcause82
    lostcause82 Posts: 148 Forumite
    I don't think it will have improved to be honest. It was over the limit but has managed to get it under in the last few months. Still quite a high balance of 8k though so didn't know if she could perhaps appeal to them as a responsible lender?
  • R_P_W
    R_P_W Posts: 1,528 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    lostcause82 wrote: »
    I don't think it will have improved to be honest. It was over the limit but has managed to get it under in the last few months. Still quite a high balance of 8k though so didn't know if she could perhaps appeal to them as a responsible lender?

    The interest rate isn't a surprise though is it?

    Responsible lender? How about being a responsible borrower?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.7K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.8K Work, Benefits & Business
  • 603.3K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture