This week I finally cut my last ties with Bank of Ireland and closed my VISA account after clearing the balance totally. I had a number of reasons for doing so, but main one was the almost usurious 18.9% interest rate they were charging me. I've also got an NIB VISA with a 14.9% rate with the same credit limit (which I feel is far more than I need) so don't need 2 cards and 2 40 euro stamp duty charges.
I was very surprised when I called to close the account at the hard sell I got to try to get me to switch to a Gold card at 13.9% (still a pretty poor rate I think). I reminded the guy on the phone that BOI closed my current account as it ran up well over my agreed overdraft and the last motorloan I had with them was 3 months in arrears for basically the last year of the loan - yet the guy then told me he felt I was a "good customer" and was willing to offer me the gold card.
Now aside from the fact that the rate is crap, I would be cynical about them issuing me another credit giving my history with the bank. Yet I'm curious as to whether this experience is just "talk" or do the bank actually deliver. As it so happens I'm also closing all my AIB bank accounts at the moment and am curious to know do they start trying to sell you all kinds of stuff once you show the signs of fleeing?
Anybody else had this experience? What did they offer? Did anybody accept? How are banks responding to increased competition resulting in account switchovers and closures?
I was very surprised when I called to close the account at the hard sell I got to try to get me to switch to a Gold card at 13.9% (still a pretty poor rate I think). I reminded the guy on the phone that BOI closed my current account as it ran up well over my agreed overdraft and the last motorloan I had with them was 3 months in arrears for basically the last year of the loan - yet the guy then told me he felt I was a "good customer" and was willing to offer me the gold card.
Now aside from the fact that the rate is crap, I would be cynical about them issuing me another credit giving my history with the bank. Yet I'm curious as to whether this experience is just "talk" or do the bank actually deliver. As it so happens I'm also closing all my AIB bank accounts at the moment and am curious to know do they start trying to sell you all kinds of stuff once you show the signs of fleeing?
Anybody else had this experience? What did they offer? Did anybody accept? How are banks responding to increased competition resulting in account switchovers and closures?