No. of Recommendations: 1
Question: How do I deal with Barclays on this issue? I have 3 cards; two of them opened in 2011 and one in 1994. I went thru a significant life transition four years ago and leaned heavily on credit. (Personal life and work are stable again.) Interests rates are 23%, 20%, and 17% respectively. Let’s just say balances are roughly $25K in total. I’m now on the “debt treadmill” with these cards. I can pay minimums (plus some) but still no significant dent in principal balances. I have a stellar payment history and my credit score is very good (720+). I called Barclays today armed with this information and a good attitude. I politely asked if I could speak with someone that could authorize a reduction in the APR’s on the three credit cards. I was told, rather flatly, that Barclays Cards has put a hold on negotiating any reductions at all to current APRs. I politely asked for a supervisor. The supervisor told me the same thing. I find this appalling but it is what it is. What should I do with Barclays? And, should I consider a personal debt consolidation loan and where does one go to apply? I’m motivated to get this debt paid within 12-18 months but want to clear my debt from Barclays immediately if possible. Thanks for comments and recommendations.
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