Lowered my Barclaycard interest

danielc9 · 30 January 2017 at 11:23AM

Hi all.

Just want to say after following tips and reading old threads, I took the plunge and called BarclayCard to see if I can lower my APR.
Now for a living I work with complaints mostly seeing people ask for lower packages etc but thought well. I'll just try it and I'll get yes or no.

I passed DPA said looking to lower limit.
Currently got 0% APR on Balance transfer until March 18
But 29.6%APR on spending.

Said was looking to move the £810.23 currently left on the spending part to a 20%APR card while leave the 2k interest free balance transfer.
Give me two seconds, was then transferred to the "APR" team spoke to a lovely lady who lowered it to.... 6.9% APR yes 6.9%APR on a 2 yr offer. I was expected 9.9-18% as I've seen some threads on here.

Now I'm not using the card anymore it's been cut up and I won't order a new one as been getting out the cards as need a new car next year as lease is up and want to HP next car. And me and my partner just moved in together 6 months ago so gone from living at home and paying 200-400 a month at the time if I got a decent bonus to just 100 and glad after getting all our furniture etc now and getting rid of some pointless DD's I had on the account I've been able to make some payment changes and no longer spending extra on the card.
I'm really happy with this as I was paying 26£ a month just on interest and was only make 100£ payment so needed to get it sorted. However can now make higher payments of £250 a month after rejigging finances and get a better salary

so the card balance will be paid of a lot sooner now and the lower interest 100% helps.

So anyone looking to reduce their APR on a Barclaycard currently it may be best to call. I was classed as a Loyal customer and only been with them since May 2016 so not even a year! I did fluctuate a lot spending a lot of money on the card and did 2 balance transfers and then pay a high chunk off before moving out of home into my own place then payments got smaller but yes.

Sorry for ranting on haha. But it's really worth calling even the lady said "If you don't ask you don't get.".

AlexPF · 30 January 2017 at 4:20PM

Mmm seems like it has quite random criteria.
Been with them since 2013, I'm on a 18.9% APR and I put a couple of grand per month on the card.
Perfect credit rating and blablabla..

Guess it does not help that I tend to pay in full every month and I'm getting cashback.

dresdendave · 30 January 2017 at 5:53PM

AlexPF wrote: »

Mmm seems like it has quite random criteria.
Been with them since 2013, I'm on a 18.9% APR and I put a couple of grand per month on the card.
Perfect credit rating and blablabla..

Guess it does not help that I tend to pay in full every month and I'm getting cashback.

If you pay in full every month the APR is irrelevant.

danielc9 · 30 January 2017 at 7:42PM

I really didn't think they would offer me anything.
However I've never paid the balance in full to be honest.
In saying that my partner then called and couldn't get his lowered and he's been within them since 2013 himself.
I guess it just depends on how persist you are. He very rarely uses his and it always is a small amount. He gets really good bonus so if he does spend he tends to pay it off in one.

If I could pay it off every month I wouldn't use it. He has the freedom rewards one which is the only reason he's kept it as the points accumulate and we get the vouchers which in turn help out around xmas time.

No_6 · 30 January 2017 at 10:26PM

They will still stuff you if you don't pay at the end of WHATEVER agreement you have

dresdendave · 1 February 2017 at 6:28PM

danielc9 wrote: »

I really didn't think they would offer me anything.
However I've never paid the balance in full to be honest.
In saying that my partner then called and couldn't get his lowered and he's been within them since 2013 himself.
I guess it just depends on how persist you are. He very rarely uses his and it always is a small amount. He gets really good bonus so if he does spend he tends to pay it off in one.

If I could pay it off every month I wouldn't use it. He has the freedom rewards one which is the only reason he's kept it as the points accumulate and we get the vouchers which in turn help out around xmas time.

A better approach is to only use it when you can pay it off in full every month, not the other way round.

danielc9 · 2 February 2017 at 1:11PM

If that was something that was possible I wouldn't have a credit card at all.

Loyalty programmes etc aren't worth it anymore.

However I've learn't the hard way, so it's a life lesson.

No_6 · 2 February 2017 at 10:03PM

CC's are great to use if you have the money to pay whatever]you
use, when the balance is due,
If you don't have the money work out what it will cost.

danielc9 · 3 February 2017 at 1:04PM

They're good to use for collecting points etc, it's amazing how it all starts.
I got my first card paid it off in full, then the company I worked for went through bankruptcy so started getting so little hours, during this time I then had to move parents were in the forces, then wasn't entitled to benefits for the first 10 weeks as "I chose to moved" even though I appealed it on the bases I didn't have much of a choice. I had an interview a week after moving but couldn't start the Job for two months as that was the start date, tried and tried, all jobs took a while to start (airport jobs as live next door to one. )So I used my CC's silly me to carry on living and pay my bills to not get in debt. Money became tight paid the minimum off, got use to using them and tried to carry on living a life I couldn't afford at the tight. I've learn't the hard way and now I'm in my own place and we want to buy I need to get them paid off to save for a mortgage. Never missed a payment, even when all the rubbish was going on as borrowed money from family to pay the CC bill each month as it was a lower amount than the bills. So really just wanted to share my news with others looking to lower their APR

Chrysalis · 3 February 2017 at 7:35PM

Using and paying off in full does still help, as essentially you deferring spending actual money by a month, and it does good for your credit rating, not to mention other perks that a card provider may give.

Ben8282 · 3 February 2017 at 11:20PM

It really is a shame that you have cut the card up. The obvious solution to your problem with such a small balance of £810 would have been to pay it in full to stop interest then use it for your regular spending and pay off in full every month.