Barclaycard have lowered my APR

KennethHardy

Yes it will definitely affect your cards rating. I know this because I went through the same situation 1 year back.

avfc82

KennethHardy wrote: »

Yes it will definitely affect your cards rating. I know this because I went through the same situation 1 year back.

And has your credit rating improved? Since you have tackled your debt?

MABLE

stator wrote: »

Only making minimum payments doesn't look good on your credit record. Try to pay a little bit more

But it is prudent to pay only the min amount if you are on a promotional rate. Also it shows on your credit report whether your are on a promotional rate or not.

stclair

Deleted_User wrote: »

As long as its not marked an arrangement to pay, you'll be fine.

Barclaycard are giving money away like lollipops at the moment.

I asked Barclaycard today about lowering my interest and they offered me 0% on purchases the next 18 months.

redpete

avfc82 wrote: »

Would this effect my credit rating as well for them to drop it down to 9.9% apr?

If I was offered a saving of around £150 in interest payments per month I wouldn't be worrying about a minor affect on my credit rating.

It could well be a positive change - it will be easier for you to pay more than the minimum monthly payments which will look better to potential lenders.

leeroy2009

another example of why I recommend Barclaycard, im yet to see any other examples of different cc card providers doing this or offering deals.


I can quite understand them giving deals and lowering aprs on a 0 balance to tempt "spending" but to lower a apr on a balance incurring interest is something else, as its loosing Barclaycard money and they would of had every right to say no to a apr reduction on a interest incurring balance.