Reducing Barclaycard APR

[Deleted User]

Evening all!

I had a Barclaycard Initial with an APR of 29.9%. I required a credit card for work expenses and the credit is always paid before the due date.

After possessing this card for about 6 months, I went back to Co-op (who I held my DC with at the time) and they offered me a Co-op platinum card at 9.9% 5/yr (12.5 thereafter).

So, the Barclaycard sat and gathered dust. Not that the rate mattered much anyway.

I called them last week and they offered to shunt the APR down 8%. Apparently this is the max they can offer. They also offered my the Barclaycard cashback card which I jumped on. I like the fact that cash withdrawals are also up to 56 day interest free too.

However, I'd like the best of both cards! The lower APR with the perks (I know, I'm asking a lot!)

On the phone, the man from Barclaycard said they can only lower the APR annually, by a maximum of 8%. How much truth is there in this? Is there any way to barter the APR any lower?

grumbler

Deleted_User wrote: »

...I like the fact that cash withdrawals are also up to 56 day interest free too.

I think you are mistaken.

However, I'd like the best of both cards! The lower APR with the perks (I know, I'm asking a lot!)

On the phone, the man from Barclaycard said they can only lower the APR annually, by a maximum of 8%. How much truth is there in this? Is there any way to barter the APR any lower?

All people who pay the balance in full and don't withdraw cash can't care less about APR. I even don't know it for any of the cards I use.

[Deleted User]

Sorry, neglected to say interest-free non-sterling cash withdrawals.

This is becoming a common trend on these forums. Your own opinion aside, can't people answer the question at hand? Get the chip off your shoulder and either help a young lad out or clear off.

There may be a requirement to add my car insurance renewal to a CC and pay it over the course of a few months.

I shouldn't have to answer to strangers on the internet in order to get a little guidance.

grumbler

If you want something, say clearly what you want.

If you want to borrow cheap, try getting a card with 0% on purchases of BTs instead of getting Co-op card or trying to 'better' your Barclaycard.

If you want to save on currency get a special card like Halifax Clarity, Creation, Aqua Reward (plus cashback) etc.

solentsusie

Deleted_User wrote: »

Sorry, neglected to say interest-free non-sterling cash withdrawals.

This is becoming a common trend on these forums. Your own opinion aside, can't people answer the question at hand? Get the chip off your shoulder and either help a young lad out or clear off.

There may be a requirement to add my car insurance renewal to a CC and pay it over the course of a few months.

I shouldn't have to answer to strangers on the internet in order to get a little guidance.

Hi

Don't take it personally there are quite a few miseries and sarcastic posters on here who don't have a lot of personal etiquette and forget to be nice to Newbies. Don't give up on the forum, there are a lot of people on here who can offer really good advice.

In the meantime remember this, if someone is angry, grumpy rude or terse it says far more about them than it does about you.

Good luck.

chattychappy

Deleted_User wrote: »

On the phone, the man from Barclaycard said they can only lower the APR annually, by a maximum of 8%. How much truth is there in this? Is there any way to barter the APR any lower?

Many years ago, Barclaycard offered me 6.9% APR on a card as a I attempted to close it, saying that that was the best they could do. I closed it anyway (wasn't bothered by the APR anyway). So I can well believe that there is a "lowest APR" that their ops can offer. 8% is pretty low for a standard APR.

Grumbler gives good advice. You may well be getting 56 days interest free on foreign ATM withdrawals (and indeed I use Barclaycard as a backup for this), but the loading is still 3%ish. By using Halifax Clarity and paying a few days later, you can get this down to around 0.1%. Of course if it's company spend it depends whether they will reimburse interest as opposed to a loaded exchange rate.

For purchases over time, there are plenty of 0% purchase deals. If you go for something like Tesco, you can get vouchers too.

[Deleted User]

Yeah, I apologise for the sharty attitude in return. You're right, I'm not being clear.

All I'm really wondering is whether Barclaycard can reduce an APR by more than 8% in any one year? I've never bartered for rates and can't find anything to suggest that this is the case?