Balance Negotiation

Jd2015

Hello

I think the answer will probably be no but I am about to pay off the balance of a credit card with a fairly big balance (£9k) and wondering if anybody has ever been able to negotiate a discount because they are clearing the balance?

Was planning on saying I have a number of cards and only limited pot of money to pay off balances to try and give them incentive to it.

Not a prayer? lol

[Deleted User]

Not unless you've already been missing payments and have trashed your credit file.

You'll need to go through that stage first.

Jd2015

No, my payments all up to date

[Deleted User]

They won't accept a discount in that case.

And to be fair, you probably wouldn't want the consequences for your credit file if they did.

Ben8282

Attempting to obtain a discount is not a good idea. Pay this balance in full. The result of this action will probably be an increase in your overall credit rating and nice 0% offers being made available.

Jd2015

"Attempting to obtain a discount is not a good idea"

You realise that sounds insane right?! lol

No, I think you miss understand me I wanted to see if they would knock something off the total in order for me to clear the entire balance. I do realise it's long shot but thought it was worth asking if anybody had ever managed it.

Tiddlywinks

Why would they reduce your debt? No, really, WHY?

You've borrowed the money - they are still making money by charging interest - you are still making payments so can obviously afford it.

So, why on earth would they offer a 'discount'?

CKhalvashi

Jd2015 wrote: »

"Attempting to obtain a discount is not a good idea"

You realise that sounds insane right?! lol

No, I think you miss understand me I wanted to see if they would knock something off the total in order for me to clear the entire balance. I do realise it's long shot but thought it was worth asking if anybody had ever managed it.

Why do they have the incentive to?

You'll either mess up your credit record for the next 7ish years, or pay the balance in full. Simples.

Jd2015

Tiddlywinks as I've said throughout it's a long shot and I hoped the tone of my first post highlighted i also realised there wasn't much chance of it so not sure the attitude is really necessary.

Why incentive could they have?! Well if they thought I was risky and in danger of not being able to repay the loan in the future.

CKhalvashi i intend to pay off the balance regardless if they offer a discount or not

MABLE

Jd2015 wrote: »

Hello

I think the answer will probably be no but I am about to pay off the balance of a credit card with a fairly big balance (£9k) and wondering if anybody has ever been able to negotiate a discount because they are clearing the balance?

Was planning on saying I have a number of cards and only limited pot of money to pay off balances to try and give them incentive to it.

Not a prayer? lol

A bit cheeky. Why should they accept a lower figure. Pay like the rest of us.

msallen

Lend me £50 will you Jd2015. I promise I'll pay you back all in one go next week if you'll settle for £40.