Getting a new deal on existing card

Coveredinbees!!!!

I have a Lloyds credit card which I have just cleared as the 0% was coming to the end. What are the chances of being offered a 0% purchase deal on this card if I ring them to cancel or don't Lloyd tend to do that? I have never got an offer when cancelling a card in the past but this one has a 'healthy' credit limit I would like to exploit.

john1002

All you can do is ask, but expect a fee.

John

Candyapple

Was the card originally a 0% purchases card?

I've got a Lloyds BT card and every 2-3 months they send BT and MT offers through the post (usually like 18 months with 1.5% fee). Have you received similar, but for purchases (assuming your card was originally a purchases one)?

Or you could call them and ask if they transfer limits between cards. That way you could apply for a fresh 0% purchases card with Lloyds and if you get given a low limit, can move over the limit from your old one and then close that card down. Several card companies allow this so it's worth asking.

MABLE

Coveredinbees!!!! wrote: »

I have a Lloyds credit card which I have just cleared as the 0% was coming to the end. What are the chances of being offered a 0% purchase deal on this card if I ring them to cancel or don't Lloyd tend to do that? I have never got an offer when cancelling a card in the past but this one has a 'healthy' credit limit I would like to exploit.

If you are registered for internet banking with Lloyds then you can see whether their is an offer open to you. There is a balance transfer tab. I have just checked and for me its 0% 3% fee for 16 months but some has been longer in the past with one just finished for me was 1.5% fee and 0% for 18 months. However no purchases as yet!

Coveredinbees!!!!

Yes I have an offer on my card for 30months 0% on balance transfer but I don't need that, plus it's 3% fee. I'll give them a ring, if it's a no I'll just cancel and free up some available credit on my credit file.

farmerboy

Just had the same with Lloyds and I got nothing on my original card, the options were:
1. Change it to one of the Rewards cards with a annual fee
2. Apply for a 2nd card with 24 month 0% on purchases and transfers (transfers from non Lloyds cards)
3. Cancel my current card but their rules state not reapplications for 6 months!!!!

I went for option 2 as my current card is cleared off, was approved for £5k on new card and able to transfer some of the limit off the old one onto it as soon as I get the new one, then just don't use the old one for a few months and cancel it after that.

All good for me as I'm only after the 0% on purchases as want it for extra spending and pay off when work bonuses are paid so works for me

Ben8282

Coveredinbees!!!! wrote: »

Yes I have an offer on my card for 30months 0% on balance transfer but I don't need that, plus it's 3% fee. I'll give them a ring, if it's a no I'll just cancel and free up some available credit on my credit file.

That really is a very good existing customer offer.
I appear to have a permanent 0% BT offer of some sort, usually 21 or 23 months with 3% fee.
Have never had a purchases offer of any sort.