Pulse / Amazon Classic card repayments

marmitejim

Hi, I had an Amazon Classic card which, when New Day and Amazon split became a Pulse account. I didn't have any choice about that and I wasn't given the option to have a Pulse Credit card either. I was told I just had to pay it off. Which I am doing.

My question is this; seeing as how my Pulse account is no longer a credit card service then is there an argument for requesting they reduce the interest rate on it? It is essentially a loan now.

Any advice would be much appreciated.

Thanks

Jim

cymruchris

https://forums.moneysavingexpert.com/discussion/6443887/pulse-amazon-classic-card-repayments

There's no argument to to get the rate reduced as such no. It's not a loan, it's still a credit card, and still has the same terms and conditions you signed up to, albeit that you can no longer put new spend on the card. You can ask for an interest rate reduction, but unless you have some specific circumstance that warrants it, they'll likely say no. If you're genuinely struggling to pay the debt, there are options, but they'll hurt your credit history and potentially future credit applications. Are you asking for a reduction as you 'feel' it's the right thing to do? Or are you asking as things are getting genuinely desperate and you need support?

marmitejim

Hi. Thanks for your response.

It was just on matter of principle really as credit card fees tend to be quite high but for that you get the use of a credit card. I've had that facility rescinded so it seemed unfair.

Presumably in the small print of my original contract I agreed to the possibility of this eventuality.

Thanks for your help!

cymruchris

https://forums.moneysavingexpert.com/discussion/comment/80027805#Comment_80027805

If the card was still accepting new spend though, you'd still be paying the same interest on the capital borrowed. There shouldn't be any fees (I'm guessing you might mean 'interest') as long as you're paying on time. If anything, without the use of this card, you might be able to get the balance down quicker as you're not adding new spend - by having a good look at your income and outgoings to see if you can chop anything out temporarily until its cleared. The quicker you pay it down, the less interest you'll pay. Do you have any monthly subscriptions you can cull for a few months? Are you on the cheapest package for all your deals? Have you got stuff in the cupboard you don't use that you could ebay? (Better to clear the debt than have unused stuff in the cupboards). Every £ you throw at this card - the quicker it'll be gone.

marmitejim

Good advice!

Thanks!