Negotiating better APR

Alex9384

Are you aware that you can actually have 2 credit cards with Halifax? You can open the second one without credit check. It's possible that the new card will have a lower APR. I had 2 Halifax cards with different APR on each, though the difference was small. Even as they were changing the APR in line with the Base rate, the APR was still different on both cards.
You can also transfer a portion of your credit limit between these two cards. Either you transfer some limit from your old card to the new one, or the other way around. Credit limit on either card can be reduced down to £500, no less than that. So if your existing limit is £1500 and you open a second Halifax card with a new limit for example £2000, you can then transfer £1000 from the old card to the new one and have a new limit of £3000 while the old card will be reduced to £500. Or conversely, if the new card is £2000, you can transfer £1500 to the old card and make the old limit £3000. You can request this after the second card has been opened for at least 7 days. You need to call them to do that.

I had two Halifax CCs, one with £7,000 limit and the other with £11,000. Recently I've shifted £4,000 from the 7k card to the 11k card, which is now £15,000. The 7k card was reduced to 3k limit, but as soon as the limit transfer completed, I closed the old CC, so it doesn't show the limit reduction on my credit files. It's been recorded still as 7k limit and then closed/settled.

You can then do the same thing with Lloyds credit cards, if you have two.