Barclaycard reduced my rate!!! :-)

fionawats

Hi all

just wanted to let you all know that I called Barclaycard and asked if they would consider reducing my interest rates (27.9% cash and 19.9% purchases)

They agreed to reduce the purchase rate balance to 6.9% for 2 years (thankfully this is the bulk of my debt)

The advisor said its a relatively new thing they are doing so well worth a try if you have a Barclaycard debt which you cannot move to a better deal

Cheers

Puffin74

Have you thought about changing credit cards? As there are loads of 0% interest cards out there??

bargainbetty

Lots of people can't qualify for the 0% cards or won't get sufficient to move all their debt to a better rate - this is a brilliant result for the OP, and certainly something others should try!

w211

Think they will try and give you a deal, if you try to close one or more of their accounts.

I have three Barclaycards, and was looking to get rid two as I'm not using any of them, and I plan just to keep one as a back up, and to keep my credit rating with Barclaycard going, as I've been with them for almost 12 years, also one of the Barclaycards has an AA annual recurring membership fee coming out of, which I want to cancel, but I'd rather cancel the card, than having the hassle of ringing the AA.

All they've done is cancelled one of the cards (the one with the AA membership), and increase the credit limit on my 2nd card to a nice round number.

Then with the 3rd card, they gave me 0% interest fee on purchases for 12 months (which I handily use to spread the cost of my car servicing) :-)

fionawats

I have moved some of my debt to 0% but cant cover all of it this way so this helps to reduce the interest until I get it paid off or can move some more :j

g6jns_2

w211 wrote: »

Think they will try and give you a deal, if you try to close one or more of their accounts.

I have three Barclaycards, and was looking to get rid two as I'm not using any of them, and I plan just to keep one as a back up, and to keep my credit rating with Barclaycard going, as I've been with them for almost 12 years, also one of the Barclaycards has an AA annual recurring membership fee coming out of, which I want to cancel, but I'd rather cancel the card, than having the hassle of ringing the AA.

All they've done is cancelled one of the cards (the one with the AA membership), and increase the credit limit on my 2nd card to a nice round number.

Then with the 3rd card, they gave me 0% interest fee on purchases for 12 months (which I handily use to spread the cost of my car servicing) :-)

Cancelling the card does not automatically cancel the AA membership. It be more of a problem if you don't do so.

w211

g6jns wrote: »

Cancelling the card does not automatically cancel the AA membership. It be more of a problem if you don't do so.

I would assume they would just cancel the membership if they don't/can't receive payment?

PeacefulWaters

w211 wrote: »

I would assume they would just cancel the membership if they don't/can't receive payment?

If it's a continuous payment authority and you haven't cancelled it then there's a reasonable chance that Barclaycard will honour the transaction and reopen your closed account.

Ring the AA to sort it.

leeroy2009

this is why Barclaycard are one of the best cards to have, time and time again they say yes to the customers request or offer other deals, I am yet to find another credit card provider who will actually do what Barclaycard are willing to, they are the only provider in my case that will drop aprs, I have asked nationwide on 3 occasions now and they have refused to lower the apr - despite a 0 balance on this card for months

MABLE

My rate is 15.9% but not interested as I always clear the balance every month. However what does interest me are the promotional rates.

Transformers

MABLE wrote: »

My rate is 15.9% but not interested as I always clear the balance every month. However what does interest me are the promotional rates.

BUT this rate reduction described in the opening post is of interest to the poster who has kindly come on here to share in case it is of use to someone else.