Asking CC Companies to stop interest?

loobie

I always pay at least the minimum payment, and sometimes a bit more on top, but I was wondering:

a) is it possible to ask CC companies to stop or put a hold on the interest?

b) would it affect my credit rating if I did it?

I could really do with getting rid of some cards now, but it seems the harder I try, the less gets paid off. MBNA are devils for this. I paid £32 last month, and they only paid £5 off the balance , even though the interest was only £16! Where did the other £11 go?

The other cards seem to be coming down, albeit too slowly for my liking, hence the question.

Thanks in advance x

Any

loobie wrote: »

I always pay at least the minimum payment, and sometimes a bit more on top, but I was wondering:

a) is it possible to ask CC companies to stop or put a hold on the interest?

b) would it affect my credit rating if I did it?

I could really do with getting rid of some cards now, but it seems the harder I try, the less gets paid off. MBNA are devils for this. I paid £32 last month, and they only paid £5 off the balance , even though the interest was only £16! Where did the other £11 go?

The other cards seem to be coming down, albeit too slowly for my liking, hence the question.

Thanks in advance x

That should be obvious on the statement?