We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

What's the best way to renegotiate the interest rate on your credit card?

PamelaQ1888 · 2023-06-27 16:02:25

I've been with Capital One for 3 or 4 years now. I started off with a credit limit of £200 and a high interest rate as my credit rating was poor, I think it might have been billed as a credit building card, or similar. Over those 3 or 4 years I used the card regularly paying off the balance on time each month. I also…

Options

Comments

enthusiasticsaver Posts: 16,062 Ambassador

27 June 2023 at 8:40PM

You would need to open a new card but I suggest you build up some emergency savings rather than relying on credit. Always cheaper to borrow your own money.

I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

The 365 Day 1p Challenge 2025 #1 £667.95/£301.35
Save £12k in 2025 #1 £12000/£8000
1