Balance Negotiation

Stevie_Palimo

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

I believe they would love to entertain the idea of you gaining £9000.00 worth of goods on a credit card then going back and saying please may I pay you £1.00 for all this, Heck why don't we all do this and bankrupt the economy furthermore.

Seriously some people have a nerve that is just beyond the realms of sanity that I actually despair these days and do wonder where they get there moral ethics from. Appalling behaviour and you should be ashamed of yourself.

PeacefulWaters

They significantly reduce future interest charges when you clear your balance.

That's your "reduction".

andyfromotley

Nope, no chance. Thats just not how they work. As said they'll do this for people they think are experiencing genuine problems as evidenced by missed payments, defaults etc. But not for you.
In fact just the oppiste. They dont want you to clear it off, you have had it a 0% for a period and show a propensity to pay the minimum, on time with no fuss. What they really want is for you to keep doing that when the interest rate returns to normal and then they will rake in huge amounts in interest. Obviously thats why they run these 0% deals, they are like very patient fisherman, yes some will get away by paying it of but some after 26 or 36 months or whatever will take the bait and keep making them rich.

I admire your chutzpah but in this case its not going to happen.

Jd2015

Wow! some people on this forum have some serious attitude problems.

I have had this credit card for a number of years and they have made 1000s of pounds profit off me, when I pay back the balance I will have paid back considerably more than I ever got from them. I'm not asking them to make a loss or trying to get something for nothing.

I realised the interest etc I would be charged when I took the card but should I be "ashamed of myself" or am I "bankrupting the economy further" by asking them if they are willing to reduce the profit they have received from me?

If that's true then we need to shut about 99% of this site.

I am very dismayed with some of the posts on here and the negative responses I have received to what was a very innocent query and it has made me question any future involvement in the forum.

Not all responses have been like this I might add and I thank those for their input.

stasieks

Jd2015, just try it. We can all profit from your experiment. No one here tried it, so who knows, maybe there is a chance for some kind of "negotiation".

Stevie_Palimo

Jd2015 wrote: »

Wow! some people on this forum have some serious attitude problems.

I have had this credit card for a number of years and they have made 1000s of pounds profit off me, when I pay back the balance I will have paid back considerably more than I ever got from them. I'm not asking them to make a loss or trying to get something for nothing.

I realised the interest etc I would be charged when I took the card but should I be "ashamed of myself" or am I "bankrupting the economy further" by asking them if they are willing to reduce the profit they have received from me?

If that's true then we need to shut about 99% of this site.

I am very dismayed with some of the posts on here and the negative responses I have received to what was a very innocent query and it has made me question any future involvement in the forum.

Not all responses have been like this I might add and I thank those for their input.

Not an attitude problem but more like people pay there dues whilst others wish to evade them much like yourself. If you cannot afford to pay the cc then you are clearly living well beyond your means end of.

Jd2015

Major attitude problem if you ask me!

Pay their dues?! I have worked continuosly from the age of 12 and not stolen or taken anything from anyone in my life without paying for it.

I was living beyond my means (I have never suggested otherwise) and I intend to pay back everything I owe. People suggested to me that I should take a Debt Management Plan to pay off my debt but out of pride and my own beliefs I did not want to go down that route. I agreed to the terms of the credit cards I intend to pay them all back. If I can get discount off the thousands of pounds the credit card company has already made off me to clear my entire £9k balance in one go is that wrong?

Have you never asked for discount for anything or did you pay the full asking price for that high horse (and everything else) you own?

Stevie_Palimo

Jd2015 wrote: »

Major attitude problem if you ask me!

Pay their dues?! I have worked continuosly from the age of 12 and not stolen or taken anything from anyone in my life without paying for it.

I was living beyond my means (I have never suggested otherwise) and I intend to pay back everything I owe. People suggested to me that I should take a Debt Management Plan to pay off my debt but out of pride and my own beliefs I did not want to go down that route. I agreed to the terms of the credit cards I intend to pay them all back. If I can get discount off the thousands of pounds the credit card company has already made off me to clear my entire £9k balance in one go is that wrong?

Have you never asked for discount for anything or did you pay the full asking price for that high horse (and everything else) you own?

Asking for discounts on things I purchase is different to what I have already spent, If you do not like the answers given to you here then why retaliate further ?

You have spent this money and agreed terms so should by rights pay it back, Once you clear it then stop spending on it to save yourself the trauma of further large bills.

It does not matter what profit they make as you agreed to this rate when you used it so to try and welch on this is just wrong.

Jd2015

If I do not like the answers someone gives me because I feel they are being rude and ignorant I have every right (and will choose) to retaliate.

I am not trying to "welch" on anything I am trying to gain some discount for myself and my family. If Barclaycard do not want to offer any discount that is completely up to them and they will be getting the full payment from myself. I'm trying to negotiate (however futile it might be) with them to save myself money.

I definitely do and will not believe I should feel ashamed about that or that I am "bankrupting the economy further".

Jd2015

Another sarcastic smug post, nice place this. Thanks Adindas

The point being I've had the debt for years and they have already made a fortune on interest and therefore already took their pound of flesh so I wondered if anyone thought they'd be willing to give some sort of small discount to get a balance cleared in full that had been virtually maxed for more than a year.

Your simplied scenario is wrong and in reality looks more like this:

I want to borrow 9k and am willing to be charged 4k interest but at the end of the term if I clear the entire balance can I negotiate a discount of £100 as I've been such a good customer.

They still will made profit of £3900. Apparently this makes me the devil, deserved to spoke down to, accused of ruining the economy and just accept general rudeness.

I realised this was extremally unlikely but wondered (simply wondered for crying out loud) if anyone had ever made such a deal