lower rate on an adverse credit card.

Andybez38

Has anyone managed to negotiate a lower rate on one of the adverse lenders credit cards? Would they be willing to lower it for a balance transfer etc.

[Deleted User]

Highly unlikely. Adverse credit card customers are high risk, hence a high rate.

They may occasionally give a short term, lower rate BT if you're regarded as a safe bet.

Andybez38

Deleted_User wrote: »

Highly unlikely. Adverse credit card customers are high risk, hence a high rate.

They may occasionally give a short term, lower rate BT if you're regarded as a safe bet.

You may well say an adverse customer is a high risk. But with some credit limits running into thousands of pounds on an adverse card, they must trust you somewhat.

[Deleted User]

Rarely from day 1 though. Higher limits go to the lower risk customers.

Dandytf

Andybez38 wrote: »

Has anyone managed to negotiate a lower rate on one of the adverse lenders credit cards? Would they be willing to lower it for a balance transfer etc.

Not negotiated as such.

Though recently accepted Tesco 27.5% apr 0% initial 1st month.

not bad considering i'm in +30 range for my other 'credit builder cards'

phild145

Aquacard has a card where the interest rate reduces by 5 percent per year over 4 years providing the account is run without problems. Mine is due to decrease to 24.9 percent in october and another year to go so will be 19.9 in the end

A4445

Barclaycard initial will. I had an email saying as long as the account is managed well they would reduce the rate within 12m.

I've managed to get them to transfer the initial card to freedom rewards. I can collect some points now. It's not the best scheme but better than nothing. :T

Barclaycard are always offering 6.9% on balance transfers for life of balance. I haven't got any balances tho! Haha learnt my lesson there! Never again!

Dandytf

A4445 wrote: »

Barclaycard initial will. I had an email saying as long as the account is managed well they would reduce the rate within 12m.

I've managed to get them to transfer the initial card to freedom rewards. I can collect some points now. It's not the best scheme but better than nothing. :T

Barclaycard are always offering 6.9% on balance transfers for life of balance. I haven't got any balances tho! Haha learnt my lesson there! Never again!

I agree I tried to cancel BC initial a few yrs ago, was offered a 18mth 0% deal as a retention product, unfortunately unemployed a few yrs later. :eek:

A4445

I'm not sure how much they will reduce the rate, will have to wait and see I guess. I'm not much bothered tho, I don't carry a balance. It would be nice to have a better rate for emergencies.

Can't wait to get rid of Capital One and Vanquis I can't imagine them reducing their rates, I'm just using them to build up a good payment history. They won't get a penny of interest out of me!

earlywormgetsthebird

I just want to backup what A4445 correctly said: if you have a good record of paying off your bills in full each month, they should be open to negotiation on the offered rate. But you will need to speak to someone beyond first level support. Ask them what's the best rate they can offer given your history with them and GL!

HTH