Credit Card Quotas?

skaff

I'm about to do a bit of haggling with my CC companies. I have some money available to pay them off following a property sale but want to see if the threat of closing the account down might instigate a bit of 0% interest or similar.

Does anyone know if there is a better chance of a favourable response depending on the time of the month? (oo er that sounds wrong!!) Do CC comapnies have quotas like some service providers?

Thanks in advance

Marco

terrytibbs_2

skaff wrote: »

I'm about to do a bit of haggling with my CC companies. I have some money available to pay them off following a property sale but want to see if the threat of closing the account down might instigate a bit of 0% interest or similar.

Does anyone know if there is a better chance of a favourable response depending on the time of the month? (oo er that sounds wrong!!) Do CC comapnies have quotas like some service providers?

Thanks in advance

Marco

It will probably depend on how profitable and risky you are to keep as a customer. If you are someone who is low risk but whom they never make a penny from (or at least very little in interest) then there is no value in offering a further 0% rate.

YorkshireBoy

terrytibbs wrote: »

If you are someone who is low risk but whom they never make a penny from (or at least very little in interest) then there is no value in offering a further 0% rate.

Hasn't stopped MBNA and LTSB giving me a total of 6 (six) 0% repeats and a 0.9% repeat. Including the initial introductory periods, that's 9 separate offers.

Aside from a couple of capped BT fee's, and a teeny bit of interest on the 0.9% deal, they haven't made a penny out of me in two-and-a-half years.

Now I, on the other hand, have made a small fortune out of them!

Moggles_2

Originally Posted by skaff
I'm about to do a bit of haggling with my CC companies. I have some money available to pay them off following a property sale but want to see if the threat of closing the account down might instigate a bit of 0% interest or similar.

There's no question, you're in a better position to negotiate once your balance is zero, but lenders differ in their response to haggling. Much depends on the particular card companies involved.

Does anyone know if there is a better chance of a favourable response depending on the time of the month? Do CC companies have quotas like some service providers?

It's been suggested that credit card applications are more likely to succeed at the end/beginning of the calendar month. I've no idea whether this is so or whether it extends to existing customer offers. Perhaps someone in the know will come along and tell us.

Moggles_2

Originally Posted by terrytibbs
It will probably depend on how profitable and risky you are to keep as a customer. If you are someone who is low risk but whom they never make a penny from (or at least very little in interest) then there is no value in offering a further 0% rate.

You would think so, wouldn't you? However, IME, the fact that you've made money from them, rather than the other way round, seems to have no influence whatever on the repeat offers you can expect