How can I decrease my APR% with BarclayCard ?

ShhNoTears

This is my first credit card, I had no credit score due to my family moving to Australia from a young age, but I got the initial card for building a credit rating, credit rating has now been built, they keep increasing my credit limit which I don't go anywhere near my limit, so how do I get a lower APR ? it's like 30 odd % at the moment, which I feel is way to High now.

Fruit_and_Nut_Case

ShhNoTears wrote: »

This is my first credit card, I had no credit score due to my family moving to Australia from a young age, but I got the initial card for building a credit rating, credit rating has now been built, they keep increasing my credit limit which I don't go anywhere near my limit, so how do I get a lower APR ? it's like 30 odd % at the moment, which I feel is way to High now.

Welcome to MSE :wave:

You don't say how you're using your card each month. The limit is just that, a limit. It's not a target. If you pay your card off each month, the interest rate is immaterial.

You could call Barclaycard and ask for a reduction or you could ask to open a new card with them. They may say yes, they may say no. You could even apply for a card with a different provider at a better rate.

stclair

Barclaycard reduced my APR on request recently.

You need to call them during normal office hours though as they will transfer you to a specialised department in the UK.

ShhNoTears

Fruit_and_Nut_Case wrote: »

Welcome to MSE :wave:

You don't say how you're using your card each month. The limit is just that, a limit. It's not a target. If you pay your card off each month, the interest rate is immaterial.

You could call Barclaycard and ask for a reduction or you could ask to open a new card with them. They may say yes, they may say no. You could even apply for a card with a different provider at a better rate.

I pay it off monthly, my limit at first was £800 then after like 3 months it went up to £2000 automatically after receiving a letter.

Fruit_and_Nut_Case

ShhNoTears wrote: »

I pay it off monthly, my limit at first was £800 then after like 3 months it went up to £2000 automatically after receiving a letter.

So the APR is immaterial. Although I admit there is a warm, fuzzy feeling when it's low

w211

Ring them up and ask. They should say yes, if you maintained your account properly.

I had three Barclaycards, and wanted to close two of them due to not needing them.

They closed one, and encouraged me to keep the other two open. On the second one they kept open, they lowered the interest rate and gave me 0% interest on purchases for a year.

I will then have a go and trying to close the second one, when the 0% finished and see what happens then.