Anyone asked for % rate to be lowered?

geekonthepc

Ironically I just called Barclaycard and asked them to lower the 29.9% interest rate on my Initial (soon to be Freedom Rewards as I asked them to swap me and they said yes), since I've recently been approved for a 19.9% HSBC card. I've only had the Barclaycard about 8 months (and it was my first credit card), but 5 minutes on the phone and they've shaved 8% off the interest rate effective immediately (down to 21.9%) - score!

I do pay both cards off in full and haven't actually ever paid a penny in interest on either cards as yet, but who knows - always better to have lower rates!

Always pays off to do a bit of chasing from time to time!

leeroy2009

geekonthepc wrote: »

Ironically I just called Barclaycard and asked them to lower the 29.9% on my Initial (soon to be Freedom Rewards as I asked them to swap me and they said yes), since I've recently been approved for a 19.9% HSBC card. I've only had the Barclaycard about 8 months (and it was my first credit card), but 5 minutes on the phone and they've shaved 8% off the interest effective immediately (down to 21.9%) - score!

I do pay both cards off in full and haven't actually ever paid a penny in interest on either cards as yet, but who knows - always better to have lower rates!

Always pays off to do a bit of chasing from time to time!

you should of pushed harder - you might of also found a £50 credit applied to your account lol.

geekonthepc

leeroy2009 wrote: »

you should of pushed harder - you might of also found a £50 credit applied to your account lol.

Yeah I know I'm well aware of the £50 cancellation thread. I didn't want to go too far to be honest - the account is only 8 months old and the last thing I want is them to start thinking I actually did want to cancel as that won't do any good for my credit building mission. Maybe when my credit history is a little more detailed and reputable a few months down the line I'll push again. I'm pretty pleased to have dropped my interest rates from sub-prime to fair within 8 months of credit building from scratch, though!

leeroy2009

make sure you do, it also does not hurt to ask for a £5 credit to "cover the cost of the phone call"

I got the £50 and a 8% apr reduction,(10 year customer) but I was not happy with that, so after todays bartering at midnight tonight my account should change over to a even better deal - a new card is in the post, and my apr has been lowered once again, im waiting for everything to go through before I update my thread, and as above - when the advisor asked if he could do anything more I said yes, apply a £5 credit for the phone call - he was only to happy to do this.

geekonthepc

leeroy2009 wrote: »

make sure you do, it also does not hurt to ask for a £5 credit to "cover the cost of the phone call"

I got the £50 and a 8% apr reduction,(10 year customer) but I was not happy with that, so after todays bartering at midnight tonight my account should change over to a even better deal - a new card is in the post, and my apr has been lowered once again, im waiting for everything to go through before I update my thread, and as above - when the advisor asked if he could do anything more I said yes, apply a £5 credit for the phone call - he was only to happy to do this.

True that - ah well, the call didn't cost me anything so not really out of pocket. Next time I'll push a bit harder!

OriolaW

I was on a Barclaycard Inital @ 29.9% I was told this would decrease to 19.9% if I did a product transfer to a Freedom Rewards card(was already eyeing this up wasn't a hard sell). One I had the card in hand I contacted them again they told me that I couldn't have the 19.9%. Back and forth of 'I was told' and 'but our system cannot put that in place' as well as being put on hold in total about 15 minutes I was down to 9.9% even though it's only for two years it's better than what it was.

I have been a Barclays account holder for 6 years credit account less than a year. It's definitely worth a try

EDIT: This was two days ago and I did have a balance. I'm early twenties if that makes a difference