Would Barclaycard let me pay off part of my account?

BristolMan

Hi everyone,

I owe about 3K on my credit card. I have the means to either pay this off, or to pay off my overdraft. My overdraft is at a much higher rate.

Hypothetically, would Barclaycard 'settle' for a 2.5k payment? Or are they likely to request every last penny?

Any ideas?

Arleen

Why would they require full payment on the card in the first place? Did they close the account for some reason? Otherwise you can make the partial payment and then pay it off next month, just keep in mind that you will have to pay interest on the outstanding balance.

PeacefulWaters

Unless you want an impaired credit file don't even think about negotiating!

[Deleted User]

I think the OP means they're after a discount.

The answer is yes, as long as you have missed enough payments, trashed your credit file and had the debt passed to a DCA.

Otherwise it's no.

BristolMan

Nah - my credit file is flawless. I don't want to jeopardise it! I just wondered if they'd offer me anything better if I said "I can pay it now"...

If it would negatively affect my score / rating, then I'd not chance it.

[Deleted User]

BristolMan wrote: »

I just wondered if they'd offer me anything better if I said "I can pay it now"...

Unfortunately not. They originally tried lending money in return for accepting 80% of it back as payment, but it didn't work out so well.

They subsequently switched to a 'give us all the money back you borrowed' model, which gave better results.

mwarby

Deleted_User wrote: »

They subsequently switched to a 'give us all the money back you borrowed' model, which gave better results.

You forgot the interest

[Deleted User]

I rarely show any interest.

PeacefulWaters

mwarby wrote: »

You forgot the interest

So do you.

They can carry on charging it if they reject your offer.

bris

But the last think they want is for you to pay it off in the first place let alone give you a discount. With a flawless history they want you maxed out for years.

agrinnall

Presumably you have received goods and/or services worth £3K, and you weren't coerced into purchasing any of those, so why do you think you should repay anything other then the full amount? If you didn't want to pay why did you buy?